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Today, and with significant acceleration, the environment for businesses and individuals is changing and becoming increasingly demanding in terms of information technology. These changes and this transformation need to be mastered from the outset to guarantee continuous and secure progress.
When it comes to cyber security, cyber-attacks are a growing challenge for businesses and individuals alike, with the risk of fraud increasing rapidly and becoming ever more sophisticated with:
- Malware attacks
- Social engineering attacks
- Password attacks
- ...
In this article, our IT consulting experts give you some advice on how to deal with these increasingly frequent phenomena, and in particular on attempts to defraud third parties of payment processing.
Tips to prevent an attempt of fraud:
When handling requests for payment or amending the bank details of third-party payments it is important to consider the following good practices:
- Ensure that you closely scrutinise all requests for payment.
- When receiving a request for payment or a change to bank details, contact the third party to independently validate these requests. You should do this by using contact details that are known or that have been obtained independently from the request you are seeking to validate e.g. Directory Enquiries or existing records within your business.
- Do not amend any payment details until you are entirely satisfied with the authenticity of the request.
- Ensure all invoices received are expected and approved via company processes before making payment.
- When you’ve made a payment, consider sending confirmation letters to the third party or creditor to ensure that payment has been received by them.
- Alert those staff with access to financial systems to the above threat and ensure processes are in place to prevent any financial loss.
If you are interested or would like to find out more about #Fraudattempt, #Cybersecurity or any other #Risk related topic that your business could incur, our risk management experts are here to help you assess your process and support your efforts!
