Organizations are under siege by bad actors across the globe who are determined to rip them off. But new software that verifies the ownership of a bank account can help businesses mitigate their risk. Threats to information security top the list of operations risk, a new survey by Risk.com finds. Cyber risk – in one … How to Mitigate Cyber Risk with Bank Account Validation
The Challenge of Verifying Supplier Information Managing supplier information has never been easy. Small slipups in collecting, verifying and storing supplier information increase errors, non-compliance and fraud vulnerability. The prolonged shift to remote work has made verifying supplier information harder and riskier. Bad actors are using the disruption caused by remote working to perpetrate payment … How to Reduce the Risk of Payment Fraud through the Automatic Verification of Bank Account Ownership
With the pandemic-driven shift to remote work, many organizations moved more check payments to electronic formats, primarily ACH. That has necessitated vendors providing organizations with bank account information. Criminals, of course, go where the money is. And in the hasty shift to more electronic payments and, therefore, more vendors sharing bank account information, many organizations … Two Controls to Protect Vendor Bank Account Information
