Duplicate payments can occur in a number of ways, some accidental and others intentional. The more rigorously companies manage accounts payable, the smaller the likelihood these transactions will effect the bottom line.
According to The Associated Press, two former employees of Cox Communications in Georgia have been accused of using duplicate payments to embezzle more than $940,000 from the business. handling money," said United States Attorney Sally Quillian Yates, as quoted in a statement from the FBI. "The charges against these defendants reflect that they violated the law as well as their employer's confidence."
The FBI noted that Flucker and Allen face several counts of wire fraud, each of which could lead to them spending up to 20 years in prison. The accused women have also been charged with one count of conspiracy, which could add as much as five years to their sentences.
With the help of audit solutions, companies can greatly reduce the potential for duplicate payments, as these tools act as a way to both verify the accuracy of accounts and deter abuse.