Posted in Risk Suppliers

An Open, Dirty And Badly Kept Secret: ‘Use The IBM Code’

Last week, a federal court sentenced a Baltimore-area former owner of a travel booking company to a year and a day in prison for operationalizing…

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Posted in Distribution Productivity Suppliers

Ticket Asset Management Represents Billions In Risk And Value

The pandemic forced BCD Travel to manage nearly half a billion dollars worth of unused, nonrefundable tickets during the year ending last month. During the…

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Posted in Payment Risk

Agro Exec In Washington State Accused Of Stealing Half A Million By Using Non-Preferred Travel Management Company

[UPDATE, July 8, 2021: Claypool on Wednesday was sentenced to three years in federal prison. He agreed to forfeit $7.8 million in “criminally derived proceeds”…

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Posted in Reporting Risk

How To Break The Bond Between Corporate Travel Management And International Criminal Activity

It was a record year for U.S. federal prosecution of corruption and fraud. The Justice Department Criminal Division in 2019 charged more individuals, and secured…

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Posted in Payment Reporting Risk

St. Louis Sales Exec Indicted For Fake Expense Claims

Authorities on Friday arrested a senior sales director for St. Louis-based cheese wholesaler Swiss American Inc. on three counts of wire fraud related to use…

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Posted in Policy Reporting Risk

Why Use AI For Audits? ‘The Mind Gets Trained To Have A Positive Bias’

The number of fraud examiners using artificial intelligence and machine learning to detect and deter fraud is expected to triple in the next two years….

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Posted in Payment Risk

Upcoming Visa Rules Have TMCs Scrambling On How To Make Online Airline Buys

[UPDATE, June 14, 2019: Starting June 17, users of Southwest Airlines’ Swabiz corporate booking portal must insert their credit card’s three- or four-digit security code….

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