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Venue

Fontainebleau Miami Beach
4441 Collins Avenue
Miami Beach, FL 33140

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Monday, March 14, 2011

4:45 PM -
Track: Credit Risk View Track

CASE STUDY: HOW PAYCHEX DECREASED FRAUD LOSSES IN TURBULENT TIMES

Jody Allison, Risk Management Collections Manager, PAYCHEX, INC.

In an era of increased fraud, Paychex has kept their losses stable through creative measures.  A critical opportunity to identify fraud situations surrounds the period where clients are on-boarded to Paychex services.  Paychex worked with State and Federal Law Enforcement and other payroll providers to establish a Fraud Consortium, allowing potential fraudsters to be identified proactively.  Fraud losses decreased by 33% within the first few months, helping Paychex to “hit the number" in turbulent times.

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