Category: Risk & Fraud
Everything you need to know about the Updated SWIFT Customer Security Controls Framework
It’s been nearly 2 years since the launch of the original Customer Security Programme (CSP) and yet everything we thought we knew about it has changed, including the name, which is now the SWIFT Customer...
Three Ways Banks Can Reduce Payment Fraud
According to the Association of Financial Professionals, 78% of organizations experienced attempted or actual payments fraud in 2017. These breaches put banks at increased risk as fraudulent transactions are processed through their payment systems. It’s...
Forensic Files: Strategies to Defend Against Payment Diversion Fraud
Payment diversion fraud might hide behind aliases such as mandate fraud, invoice fraud or business email compromise, but regardless of what you call it, it’s a big threat to business. According to Andy Fyfe, detective...
KYC Best Practices: 3 Tips for Improving Digital Identity Verification Practices
For banks to grow in today’s technology age it’s critical that they be able to attract new customers through digital channels. But digital identity verification presents a real challenge and KYC best practices aren’t always...
The Importance of Bank Account Validation as a Payment Protection Measure
As we discussed in my last post, the importance of bank account validation cannot be understated when it comes to streamlining payment processes and eliminating failed direct debit transactions. As was recently noted in the...
2018 Payment Fraud Trends: Where Does Your Organization Fit In?
Review the 2018 Treasury Fraud & Controls report for in depth analysis from Strategic Treasurer on the payment fraud trends that are impacting the industry.
Understanding the State of Treasury Fraud & Controls
Once upon a time, stealing money from a bank or business meant that criminals had to put on a mask and commit a robbery. Coming into the second half of 2018 however, that thought seems...
Trends in B2B Payments and Working Capital Management
The payments landscape is changing faster than ever before. To say that the challenges faced by corporates and banks are heavily complex would be a significant understatement. For an organization to be successful, understanding the...
Meeting the Requirements of the SWIFT Customer Security Programme
With the January deadline for self-attestation to the SWIFT Customer Security Programme (CSP) in the rear view mirror, members of the Swift community find themselves at various levels of compliance. On the whole, many organisations...
Securing the payment processing lifecycle
In this recurring SmartPayments feature we sit down with professionals from the corporate and banking space to talk with them about the issues they face on a daily basis. In this installment we interviewed Camille...