How to ensure your company is protected against payments fraud
by Jack Large
Here are the nine actions nskox - the Cooperative Cyber Security technology company - recommend to stop corporate payment fraud:
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Real-time controls should be established for detecting threats and preventing attacks before they harm the organization and its customers.
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Centralized and external controls for all payment-related processes should be established.
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A comprehensive list of payment corporate policies should be defined
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Maximum payment thresholds for vendors should be defined
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Requests for payments from executives must automatically be routed for verification by the executive as well as to another person in the organization
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Requests for changes to vendor master file data must be automatically routed for verification in real time to an authorized vendor representative
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Email servers should be secured, where security monitoring tools and programs should be configured to aid in the detection of suspicious activity
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Account verification should be executed in systems/databases outside of the organisaitons nework...
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Execute an independent KYC process during supplier onboarding.
For more see, here.
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