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Business Email Scams Spin Even Wider Webs

PYMNTS

“We discovered counterfeit checks and ACH debit fraud on an account that did not have Positive Payee feature or ACH debit block because of the urgency to open account,” one survey respondent recalled. “Organizations are also installing new internal controls to protect against BEC scams.

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Payment Automation: The Future of Business Transactions

Nanonets

The payment process using ACH transfers involves the payee creating a payment order which is received by the originator bank. AP Automation solutions establish automated payment controls, including Segregation of Duties, Dual-Factor Authentication, and Positive Pay Files, which prevent internal fraud and protect against account takeovers.