What is wire transfer fraud?
1 out of 4 companies were victims of a fraud in 2020, with an average loss of €100K in fraud and $21 billion worldwide. Fraud does not only happen to others. And they are becoming more and more technological. Some individuals (and today criminal organizations) are able to exploit the flaws of your company.
In the face of this, the manual controls in place are no longer sufficient to protect companies from fraud. Human processes are not secured enough and must be digitised to counter these threats.
How does Trustpair protect your business from fraud?
Trustpair’s business solution digitizes the process of checking third-party bank details throughout the Procure-to-Pay processes: from the entry in the third-party database to the generation of your payment campaigns.
The technology detects errors and anomalies in the third-party database: non-correspondence between a company and its bank account, amount anomalies, format errors, duplicate invoices, closed companies, etc.
- Trustpair is committed to providing you with a binary assessment of the risk related to your third parties and thus protect your company from fraud.
Strengthen your control processes to protect your company from wire transfer fraud.
Trustpair clients speak out
Trustpair is a useful tool to reduce the risk of fraud, and reassures those who engage their responsibility, as well as the Finance Department and Company Managers.