Accounts Payable Fraud Schemes are a form of financial fraud that involves the intentional misuse of company funds. The most common type of scheme involves an individual or group of individuals creating fictitious invoices or otherwise manipulating existing ones in order to obtain payment for goods or services they never received. These schemes can be very lucrative, costing businesses billions of dollars each year. The best way to guard against this type of fraud is to maintain strong internal controls and oversight around accounts payable departments and processes. Implementing effective systems for monitoring, review, and validation can help detect any potential fraudulent activity and prevent further loss.