Controls & Fraud
To be successful, a Purchasing Card program must have effective controls to prevent and detect card fraud. The challenge is striking the right balance; you do not want to over- or under-control a program. Too many controls are costly, impacting the process savings inherent to P-Cards, while a lack of effective controls puts your organization at risk.
- Risk assessments
- 5 fraud tips every business leader should act on (a resource from the ACFE)
- Key controls: Program roles and responsibilities
- Internal agreement for cardholders and managers
- Danger signs of card misuse/abuse
- A biometrics solution for Commercial Cards
- Rebuilding a controls norm (“free-range” card programs)
- Risk psychology helps explain some organizations’ aversion to Commercial Cards
- Three characteristics that weaken the control environment
- Compliance issues and metrics to monitor
- Develop strong program management to combat fraud
- Rationale for collecting personal information on cardholders
- Attack fraud through training
- Who pays for payments fraud?
- Replacement cards for compromised accounts, and action items to fight external card fraud
- Auditing a Purchasing Card program
- Defend against holiday temptations (and internal fraud)
- EMV/card security
Blog Posts on Fraud Incidents
Includes tips you can use
- Executive card fraud beyond belief
- Card misuse at high level uncovered by unlikely source
- Check fraud by an AP supervisor
- Are managers at fault? How to help them be successful.
- A case of internal card fraud and tips for prevention/detection
- News stories on procurement fraud and card misuse
- Inappropriate card use in public school districts
Recommended ACFE Resource
Available for Purchase
P-Card Risk Assessment Template
The template includes nine worksheets, covering nine broad topics, for a program manager to complete. In all, there are more than 100 questions, providing a robust evaluation of P-Card controls. Learn more...