Business Payment Controls
Controls that stop invoice and payment fraud.
Require dual approval for bank detail changes
One person should never change payment details alone.
Call to verify any change
Use a number already on file, not one from the email.
Train finance staff
Urgency and secrecy are warning signs.
Use multi-factor authentication on email
Email is often the entry point for payment fraud.
Reconcile payments regularly
Catch anomalies quickly.
Have a clear reporting route
Staff should know exactly who to tell.
Run a payment fraud drill
Practise the call-back process before you need it.