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NC Pro internal audit warns recipients about rising vendor‑payment fraud and deep‑fake scams
Summary
Barbara Baldwin, internal audit director in the Office of Budget and Management, warned meeting attendees about a rise in vendor‑payment fraud—including vendor email compromise and AI deep‑fake schemes—and advised verification steps and immediate reporting to financial institutions and federal authorities.
Barbara Baldwin, internal audit director at the Office of State Budget and Management, warned participants that vendor‑payment fraud and sophisticated scams have increased and urged recipients and grant managers to adopt verification policies and training.
Why it matters: vendor‑payment fraud can cause large financial losses to state agencies, grantees and vendors. Baldwin described recent examples, explained common tactics, and gave step‑by‑step guidance attendees can use to reduce risk.
Examples Baldwin described
- Vendor email compromise and social engineering: attackers penetrate vendor email accounts (often via phishing), monitor correspondence and then send convincing change‑of‑payment requests that appear to come from the vendor. Baldwin gave a documented example in which…
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