Asia’s growth prospects still positive, says ADB – Industry roundup: 29 April
by Graham Buck
First US bank failure of 2024; Today is National Supply Chain Day; Visa and Tink bring open banking to US; Digital euro "will arrive before 2030"
Minimizing Payment Fraud
Background
One of the biggest sources of fraud in most organisations is payment fraud. Typically the biggest sources of payment fraud are from: cheques particularly in accounts payable and disbursement accounts.…
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Cheques (checks) and ACH Debits remain most susceptible to payments fraud
by Pushpendra Mehta , Executive Writer, CTMfile
The vulnerability of cheques to payments fraud underscores the need for treasurers to implement adequate controls to safeguard against fraud risks.
Hong Kong crackdown conflicts with financial hub goal – Industry roundup: 21 March
by Graham Buck
Reddit valued at US$6.4bn ahead of IPO; Malaysia expects 4-5% growth in 2024; Fed reassures on rate cuts; UK retailers get embedded finance lift
India’s economic boom echoes 2003-07, says Morgan Stanley – Industry roundup: 14 March
by Graham Buck
Japan's unions win major pay hikes; Swift to assist Bangladesh central bank; Israel plans for shekel CBDC; €240m funding for sustainability in Africa
Nigeria hikes rates to support currency – Industry roundup: 29 February
by Graham Buck
US economy ends 2023 on a high; Deutsche updates sustainable investment guide; Verizon completes sixth green bond; Action plan on plastic pollution
Deepfake may be the biggest payment security threat for CFOs and treasurers in 2024
by Pushpendra Mehta , Executive Writer, CTMfile
A $25 million scam, one of the largest corporate frauds using deepfake technology, poses a growing danger and serious threat for CFOs and treasurers.
US recession no longer in prospect, says Deutsche Bank – Industry roundup: 8 February
by Graham Buck
China reports deflation last month; India keeps rates on hold; Revived fortunes for two Italian banks; ADB trade aid for Cambodia
US companies ready to sever ties with organizations hit by payment fraud
by Pushpendra Mehta , Executive Writer, CTMfile
The possible domino effect of fraud: senior finance and treasury leaders in the US willing to cut ties with entities that experience payment fraud.
US gives the green light for 11 bitcoin ETFs – Industry roundup: 11 January
by Graham Buck
WEF's main worry is misinformation; UAE bucks slump in fintech funding; SAP pays US$222m to settle bribery charges; Revolut platform ready to roll
China bank-backed dollar bond sales tumble – Industry roundup: 28 November
by Graham Buck
Japan's inflation edges higher; Metro Bank rescue approved; Invest America initiative gains traction; CBA draws Australia's young tycoons
Argentina’s economic outlook still murky – Industry roundup: 24 October
by Graham Buck
US 10-year Treasury yield at 16-year high; Priorities for G7 Osaka summit; Nigeria sees liquidity crunch relief; Security new 'S' of ESG
China’s Belt and Road initiative marks first 10 years – Industry roundup: 17 October
by Graham Buck
Israel's banks offer financial relief; RBA sees tokenised asset savings; South Korea fines for naked shorting; Industrial park promotes digital yuan
Central banks decide after Fed holds US rates – Industry roundup: 21 September
by Graham Buck
Deutsche Bank CEO warning for Germany; Goldman raises US$15bn for PE deals; Stan Chartered sustainable loans; Temenos Payments Hub on IBM Cloud
More UK companies failing to address cybersecurity, new report reveals
by Pushpendra Mehta , Executive Writer, CTMfile
Businesses with cyber-engaged boards and executive teams have increased revenue growth, improved data insights and higher investor confidence.
Quantum digital payments move closer – Industry roundup: 6 July
by Graham Buck
BRICS members diverge on expansion; UK proposes voluntary ESG code; Eurozone business activity shrinks; China lenders cut dollar deposit rate
BRICS flexes muscles as it challenges US dollar – Industry roundup: 25 April
by Graham Buck
China, Singapore unite on sustainable finance; Chile to nationalise lithium reserves; Meloni upbeat on MPS sale; Zimbabwe's digital currency plans
Treasury leads in discovering payments fraud
by Pushpendra Mehta , Executive Writer, CTMfile
Training employees in payment security helps detect payment fraud quickly and maintain treasury’s leadership in this area.
AI set to transform supply chain management – Industry roundup: 13 April
by Graham Buck
Canada keeps rates on hold; Renminbi share of trade finance grows; Mastercard adds Cross-Border Services Express; Tranglo expands into Europe
Ransomware attacks decrease, but companies falling prey to complacency
by Pushpendra Mehta , Executive Writer, CTMfile
Organizations must remain vigilant as ransomware payments rise despite fewer ransomware attacks.
The failure of US banks could lead to rise in cyberattacks
by Pushpendra Mehta , Executive Writer, CTMfile
Fear and a sense of urgency that drove recent bank runs can fuel the next big opportunity for bad actors and result in targeted cybercrimes.
Mastercard partners with Network International to launch AI fraud-prevention solution – Industry roundup: 17 February
by Monica Zangerle , Writer, CTMfile
The US SEC charges crypto TerraUSD and its founder Do Kwon with fraud.
Surge in swatting threats against corporate executives and board members
by Pushpendra Mehta , Executive Writer, CTMfile
Corporate leaders must take proactive steps to lower swatting risks so that swatters cannot get to the bigger prize – corporate assets.
China to expand digital yuan testing – Industry roundup: 2 February
by Graham Buck
UK issues plans to regulate crypto; Gmail creator sees ChatGPT ousting Google; Eurozone and UK hike interest rates; Raiffeisen earns more from Russia
Incoming payments fraud – losses are mounting
by Pushpendra Mehta , Executive Writer, CTMfile
Combat the growing menace of incoming payments fraud by adopting digital solutions, identity verification, speed and authentication.