Quittance Blog
The Quittance blog
Notes on accounts payable, invoice review, and the work of closing the books.
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Welcome to the Quittance blog
A short note on what we will write about here - accounts payable, invoice review, and the work of closing the books.
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A Singapore Firm Recovered $12.8M From a Bank-Change Scam. What Worked
A Singapore petrochemical firm recovered the full $12.8M lost to a bank-change scam. Here is what made this case rare, and the one check that stops it.
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An Iowa City Nearly Lost $655,000 Because the Amount Matched
A fraudulent invoice matched an Iowa city's expected contract amount almost exactly. Here's why that match isn't proof, and what actually verifies an invoice.
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A $1.9M Jail Vendor Scam Ran for Months Before Anyone Caught It
Pulaski County paid $1.9M to a fraudster after one bank-change email went unverified. The fix: a revalidation cadence for every vendor change.
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After a $14.7M City Scam, Alabama Businesses Are Being Hit the Same Way
Mobile, Alabama lost $14.7M to a vendor email scam. Private businesses are now facing the same scheme - here's what a payment verification process must catch.
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What the FBI's 2025 BEC Numbers Mean for How You Verify a Vendor Payment
The FBI's 2025 report shows BEC losses hit $3.05 billion. Here is the vendor bank-detail checklist AP teams need before updating payment records.
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What the Barbara Corcoran Invoice Scam Teaches AP Teams About Verification
A spoofed email cost Barbara Corcoran's bookkeeper $388,700. Here is the one verification step that would have stopped it, and how AP teams can build it in.
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Invoice Fraud vs. Payment Fraud: Why a Matched Invoice Gets Paid Wrong
Invoice fraud fakes the bill. Payment fraud redirects the money. A matched invoice can still clear both checks and pay the wrong account.
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New 2026 AP Survey: 77% of Teams Still Hand-Key Invoices
A new 2026 survey finds 77% of AP teams still hand-key invoices. Here is what counts as real automation, and what the stats leave out.
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Why Only 18% of Firms Continuously Revalidate Vendor Bank Details
New 2026 fraud data shows only 18% of firms continuously revalidate vendor bank details, leaving AP teams exposed to bank-change scams.