Finance-lane controls against funds-transfer fraud.
Why it matters
Wire and vendor-bank-change fraud are high-frequency, high-dollar losses a call-back can stop.
What strong practice looks like
Out-of-band verification and dual approval for funds transfers.
What this area covers
Also covered in this area
- Is out-of-band verification required before funds transfers above a set threshold?
- Is out-of-band verification required before changing vendor or payroll bank details?
- Is dual approval required to initiate a wire?
- Do finance staff receive anti-fraud / social-engineering training?
This library is general education, not advice about your specific organization. It describes what each control is and what strong practice looks like; whether and how any of it applies to you is your decision, in consultation with your carrier, broker, or counsel.