AI-Powered Fraud Detection Is Here. Here's How to Use It. Finance & AP

A company was charged for an unauthorized $30,000 squirrel hunting trip. You read that right – squirrel hunting. A logistics company unknowingly paid a supplier that didn't exist to maintain infrastructure that didn't exist. The AP team at a technology company received an invoice for goods never purchased. An executive bought IT equipment with company funds and sold the hardware privately for personal gain.