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PDF · 2 pages
Preventing Vendor-Impersonation Fraud
The controls that stop email fraud
An email announces a change to a supplier’s bank account. The transfer goes out, the money vanishes. These simple controls stop the vast majority of these frauds.
What you’ll learn
- How vendor-impersonation (BEC) fraud works
- The two-step payment verification rule
- What to do if a transfer has already gone out
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