Trust, But Verify: The Vital Role of Auditing in Automated Parking  

Thursday, September 25, 9:30 AM, Room: Mt. Pisgah

Who knew ~ Internal and External Audits were simply not enough?  Just because operators utilize PARCS equipment, or employ some form of automation, or offer contactless platforms, does not mean auditing is unnecessary. With these systems in place, there is a tendency to believe all is well, as theoretically nobody can steal from you anymore. Do not be fooled – you must audit these modern marvels too! While automation can greatly reduce the risk of fraud, no system is 100% foolproof.  Every system has vulnerabilities that can be exploited.  Never forget that humans can be quite ingenious, and there are multiple hours in a day to apply their ingenuity for good or bad purposes.  It is simply not possible to account for all types of this “ingenious” fraud via automated systems, unfortunately, as evidenced disproportionately in our industry.   The significance of understanding the operational process in combating fraud is paramount. Historically, many work streams were manual and decentralized, which limited the ability of fraudsters to scale up fraudulent activity. However, as many business processes have become centralized, with more and more powerful technology, the ability to scale up fraudulent activity has become a more compelling prize. A fact that has become all too evident by the various scandals making front page news.   What you should take away from this discussion goes well beyond internal and external audits. It is what can be done to mitigate your exposure to fraud, and when (how to expose fraud as soon as possible).  It is important to remember that while automation provides many advantages to a given operation, that automation should not be working autonomously.  And, as fraud techniques evolve and escalate, we still need real-life experts.  We need a trained human-eye, and sometimes multiple pairs of eyes, seeing and analyzing the same data, to assist in the perpetual fight against fraud.

This session offers 1 certification point for the PTMP Application and Recertification.

Learning Objectives

• Learn how fraud is detected, who is reporting it, and how much it could be costing your organization.

• Find out what kind of situations put your organization at risk of fraud and what to look for.

• Identify strategies to mitigate exposure to fraud, the opportunities that come with automation, and why human oversight is still so important.
  

Katherine Beaty (TEZ Technology)

EVP of Customer Experience at Tez Technology, Katherine Beaty brings over 20 years of expertise in the parking industry. She is responsible for managing a team that ensures operational excellence and fraud prevention strategies for clients. Katherine holds an MBA from Regis University and is a Certified Fraud Examiner. She has published articles in leading industry publications and, along with her husband, runs a raptor rescue center in Tennessee.