--- title: Bill Pay - How Family Offices Can Protect Against Internal Fraud description: Risclarity's Rick Higgins, CEO, explains why separation of duties and enforced workflows are keys to avoiding embezzlement and fraud within wealth firms. image: https://insights.risclarity.com/hubfs/Common-Bill-Payment-Mistakes-subtitled.png --- [![Risclarity logo](https://insights.risclarity.com/hubfs/risclarity-logo-v2.svg)](https://risclarity.com) - [Solutions](https://risclarity.com/solutions) - [Clients](https://risclarity.com/clients) - [Services](https://risclarity.com/back-office) - [Partners](https://risclarity.com/partners) - [Company](https://risclarity.com/company) - [About Us](https://risclarity.com/about) - [Our Team](https://risclarity.com/about#our-team) - [News](https://risclarity.com/news) - [Careers](https://risclarity.com/careers) - [Awards](https://risclarity.com/awards) - [Insights](https://insights.risclarity.com) [Contact](https://risclarity.com/contact)  Video # Bill Pay - How Family Offices Can Protect Against Internal Fraud [Risclarity](https://insights.risclarity.com/author/risclarity)| Aug 8, 2024| Duration: 3:19 [Best Practices](https://insights.risclarity.com/tag/best-practices) [Operations](https://insights.risclarity.com/tag/operations) [Videos](https://insights.risclarity.com/tag/videos) ![](https://insights.risclarity.com/hubfs/Common-Bill-Payment-Mistakes-subtitled.png) *"We've seen some catastrophic things in the industry. Embezzlement and fraud and other things that have taken place because there wasn't a strong separation of duties and there wasn't an enforced workflow"* notes Rick Higgins, Founder & CEO of Risclarity. Listen to [Rick Higgins](https://www.risclarity.com/bios/rick-higgins) and [Carl Knecht](https://www.risclarity.com/bios/carl-knecht), CTO & President of Risclarity discusses with [Mark Wickersham](https://www.linkedin.com/in/markwickersham/) the common bill payment mistakes and how family offices can better protect against internal fraud when offering this valued service. Resources [Risky Business - Risk in the Family Office - Blog](https://insights.risclarity.com/risky-business) [Back Office Challenges - Podcast](https://insights.risclarity.com/the-back-office-challenges-family-wealth-firms-face) Disclaimer Information provided is for educational purposes only. Opinions expressed and estimates or projections given are as of the date of the presentation and Risclarity has no obligation to update or provide notice of inaccuracy or change. [Best Practices](https://insights.risclarity.com/tag/best-practices) [Operations](https://insights.risclarity.com/tag/operations) [Videos](https://insights.risclarity.com/tag/videos) ## Similar posts Best Practices ### [Back Office Challenges Family Wealth Firms Face (and what they can do about it)](https://insights.risclarity.com/the-back-office-challenges-family-wealth-firms-face) The Back Office Challenges Family Wealth Firms Face: Insights from FinTech Industry Leader Risclarity The WealthTech Podcast Aug 8, 2024 Blog Posts ### [Our Top Five Tech & Operations Blogs for Family Offices in 2024](https://insights.risclarity.com/risclaritys-most-popular-blogs-for-2024) Explore Risclarity's top blog posts of 2024, featuring insights on risk management, technology adoption, client reporting, privacy, and operations... Risclarity Jan 3, 2025 Best Practices ### [Navigating Family Office Tech: Innovation & Change](https://insights.risclarity.com/navigating-family-office-tech-innovation-change-best-practices) Explore evolving tech in family offices with insights on adoption, integration, and AI trends in this episode of the Risclarity WealthTech Podcast. The WealthTech Podcast Feb 18, 2025 ### Get notified of Risclarity Insights Be the first to learn about integration platform innovations and best practices that can improve operations and outcomes for your family office.  [![risclarity-logo-white-vector](https://insights.risclarity.com/hubfs/risclarity-logo-white-vector.svg)](https://risclarity.com) Simplifying Complexity: Integration and client reporting solutions for family wealth management. ### EXPLORE - [Solutions](https://www.risclarity.com/solutions) - [Clients](https://www.risclarity.com/clients) - [Services](https://www.risclarity.com/back-office) - [Partners](https://www.risclarity.com/partners) ### COMPANY - [About Us](https://www.risclarity.com/about) - [Awards](https://www.risclarity.com/awards) - [News](https://www.risclarity.com/news) - [Insights](https://insights.risclarity.com) - [Careers](https://www.risclarity.com/careers) - [Contact](https://www.risclarity.com/contact) ### FOLLOW [![LinkedIn Icon](https://insights.risclarity.com/hubfs/site-images/linkedin-icon-white.svg)](https://www.linkedin.com/company/risclarity) [![YouTube Icon](https://insights.risclarity.com/hubfs/youtube-icon-white.svg)](https://www.youtube.com/@risclarity) © Risclarity, LLC All rights reserved [Privacy Policy](https://www.risclarity.com/privacy-policy)  |  [Cookie Policy](https://www.risclarity.com/cookie-policy) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Risclarity", "url" : "https://insights.risclarity.com/author/risclarity" }, "dateModified" : "2024-10-15T21:42:44.335Z", "datePublished" : "2024-08-08T19:00:00.000Z", "headline" : "Bill Pay - How Family Offices Can Protect Against Internal Fraud", "image" : [ "https://insights.risclarity.com/hubfs/Common-Bill-Payment-Mistakes-subtitled.png" ], "mainEntityOfPage" : { "@id" : "https://insights.risclarity.com/bill-pay-how-family-offices-can-protect-against-internal-fraud", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://insights.risclarity.com/hubfs/risclarity-logo-v2.svg" }, "name" : "Risclarity" } } ```