Hidden Risks in Payments: What businesses may miss

When most people think about payments processing, they think about speed, convenience, and getting money from point A to point B. But what many businesses don’t realize is that every payment carries a certain level of risk, and that much of that risk is determined by the systems, controls, and processes a business uses, even long before a payment is created.

Today’s fraud landscape looks very different than it did even a few years ago. Fraud is no longer just suspicious emails filled with spelling mistakes or obvious scams. It has become smarter, more targeted, and in many cases, extremely convincing.

In this podcast episode, we discuss the rise of payment fraud through email compromise and other social engineering tactics, and share some tactics to recognize it and reduce your vulnerabilities. We’ll also discuss:

• how payments fraud is evolving;

• why businesses are increasingly vulnerable;

• the role technology now plays both in mitigating and perpetuating fraud;

• and most importantly, what employees can do to help protect their organizations from bad actors.

We’ll unpack the risks businesses don’t see, and address why fraud prevention is no longer just a Compliance responsibility. It’s a Product challenge. It’s an Operations challenge. And ultimately, it has to be a business-wide priority.

Cross-Border

Risk management