How AI Fuels Global Fraud in Vendor Payments & Why 96% of Companies Are Vulnerable – Baptiste Collot

In this episode of @CorporateTreasury101, we dive into the rapidly evolving world of corporate fraud and explore how businesses can protect themselves against increasingly sophisticated cyber threats. Our guest, Baptiste Collot, Co-Founder and CEO of Trustpair, shares actionable insights on how treasury and finance teams can move beyond traditional manual controls and adopt modern solutions to safeguard corporate payments. We explore the explosion of sophisticated fraud schemes, the dangers of deepfakes, and why companies must rethink their fraud prevention strategies to protect enterprise value. From understanding the new cyber era of fraud to implementing real-time vendor validation and efficient risk management practices, this episode is packed with critical advice for any treasury professional looking to stay ahead of modern fraud trends.

Baptiste Collot draws from extensive experience leading one of the world’s top fraud prevention SaaS platforms to explain how companies can rebuild trust in their payment processes. He breaks down the key risks facing treasury today, how cybercrime has gone global, and why thorough information verification at every step of the procure-to-pay process is crucial. We also discuss real-world fraud examples, the rise of highly convincing phishing attacks, how to build a strong business case for fraud prevention tools, and why integrating these solutions into ERP and treasury systems is essential for future-proofing your organization.

What You’ll Learn in This Episode
1. How AI and streamlined processes have supercharged fraud attacks in 2024
2, Why fraudsters target vendors and exploit email chains, and how to stop them
3. What deepfake fraud looks like in the corporate world
4. How to create a multi-layered fraud prevention framework
5. Real-world cases of fraud detection using Trustpair’s technology
6. Why internal training alone isn’t enough to fight cyber-enabled fraud
7. How to make a strong business case for fraud prevention to your CFO and board

Episode Breakdown & Timestamps
[00:00] Introduction and partnership with AFP for Treasury Certifications
[01:18] Explosion of fraud in recent years: Rise of AI and cyber tactics
[03:21] Why defenses haven’t caught up yet: Corporates lagging behind fraudsters
[05:24] Can authorities and police prevent fraud? The limitations of external help
[08:25] Differences in fraud trends across regions and industries
[10:18] Key fraud concepts: Vendor impersonation, internal fraud, and deepfakes
[14:58] What is a deepfake and why it so dangerous for businesses
[19:50] How companies can effectively fight fraud: Human + tech approach
[30:04] ChatGPT and AI-assisted fraud: How cybercriminals are optimizing attacks
[34:13] The Domino Effect: Beyond financial loss—impact on morale, reputation, and operations
[43:09] The role of governments and international regulations in fraud prevention
[46:21] Building the business case for fraud prevention investments
[49:45] Real-world examples: How Trustpair prevents fraud in organizations
[55:12] Where to learn more about Trustpair and final thoughts

Follow our guest Baptiste Collot:
LinkedIn: https://www.linkedin.com/in/bcollot/
Website: https://www.linkedin.com/company/trustpair/

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Hussam on LinkedIn: https://www.linkedin.com/in/hussam-ali-6bb69186/
Guillaume on LinkedIn: https://www.linkedin.com/in/guillaume-jouvencel/
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#FraudPrevention #CorporateTreasury #CyberSecurity #VendorRisk #DeepfakeFraud #TreasuryPodcast #StrategicTreasury #CTPDiscount
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