A company stores vendor banking data on its ERP system for the purpose of making...

Vendor: AFP
Product: CTP
Update on: Oct 21, 2025
Questions: 1076

AFP CTP Question Answer

A company stores vendor banking data on its ERP system for the purpose of making ACH payments. A vendor emails a notice of account closure and provides updated banking information, which an employee updates and a payment is made. A few weeks later, the vendor calls asking for payment, and when told which bank account the money was sent to, informs the employee that is not their account. Which of the following controls could have prevented this fraud from occurring?

Require a second employee to review the data that has been changed.

Reconcile the ACH transactions daily so that the fraud could have been detected earlier.

Establish a new vendor profile when any changes are requested.

Call the vendor at a known phone number to verify the requested changes.