Treasury Security: A Complete Checklist for Fighting Digital Fraud

Creating a Digital Framework for Preventing & Detecting Fraud

Within the past year alone, thousands of finance and treasury practitioners across the world have learned through bitter experience that digital payments fraud is rarely orchestrated by your average, everyday criminal.

The vast majority of today’s technology-oriented attacks, particularly those that target large enterprises, are led by sophisticated, well-funded, and innovative fraudsters. In many cases, these software-savvy perpetrators are working on behalf of state-sponsored actors or underground “black-hat” organizations. And because these groups are well-organized and well-funded, they can provide members with the latest technology and training.

Ultimately, this has led to rapid digital innovation within the criminal underworld, and subsequently to a growing frequency of highly orchestrated payments fraud attacks against the corporate environment. Consisting primarily of software hacks or malware attacks, many of the most prevalent forms of fraud in existence today involve numerous layers of subterfuge and deception, which is necessary for bypassing the various security controls that organizations have in place. Common examples include the use of cleverly disguised Business Email Compromise (BEC) schemes, “Man-in-the-Middle” tactics, invoicing fraud, and the use of ransomware or other forms of “system takeover” fraud.

But of course, enterprises are not entirely helpless in defending themselves. In this factsheet, we present four building blocks that TIS has designed for its cloud-based platform to support payment security. Several correlated security layers, such as regular employee training, are highlighted as well. Our hope is that practitioners can incorporate these techniques into their own security strategies and become more protected against modern-day criminals and fraud attacks. And by incorporating each of the various security layers highlighted in this guide, you can effectively prevent the vast majority of attacks from ever impacting your company.

Download the full factsheet below to learn more!

More interesting topics

A Closer Look at Fraud Prevention and Fraud Detection

For fraud detection to be effective, your company needs a strong payments security strategy Download this whitepaper to...

Payments Fraud Prevention: The Biggest Fraud Threats

Payments fraud prevention needs to start within the company. - The biggest payments fraud threat may not be...

Payee Community Screening (PCS): Intelligent Fraud Prevention

TIS' Payee Community Screening (PCS) tool pulls data from a global library of verified transactions to confirm the...

Access your copy

Enter your information to read the content

Download Treasury Security Checklist

  • Hidden
  • Hidden
  • Hidden
  • This field is for validation purposes and should be left unchanged.