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Fraud is occurring in corporate and banking environments of varying sizes and having a significant impact both financially and on business reputations.

The subsequent response from the business community has been varied but now the net is closing in. Organisations, institutions and regulators are galvanising the industry to face up to the very real fraud threat that exists today with technology providers leading the way with investment in security and detection solutions to build the financial fortress.

Amongst the high profile incidents, experienced hackers targeted SWIFT customers to create fraudulent transactions prior to submission into the SWIFT network. The SWIFT interface used by financial institutions was compromised and attackers exploited vulnerabilities in banks’ funds transfer initiation environments prior to messages being sent over the SWIFT network.

In response SWIFT has issued a set of security standards that will facilitate a more secure financial ecosystem. Known as the SWIFT Customer Security Programme, or CSP, SWIFT has established a set of mandatory and advisory controls which will act as a security foundation for the entire SWIFT community. 

Download your copy and discover how Bottomline’s Secure Payments for SWIFT solution can protect your business.

Secure Payments for SWIFT CFRM MS DS UK091720 page image

Critical Capabilities for a Protective Fraud Protection Strategy

Identifies Threats in Real-Time

Uses Intelligent Machine Learning, Rules Based Detection, and Behavior Profiling

Reduces Investigation Time

Creates Operating Efficiency 

Assists in the Compliance with the SWIFT Customer Security 

BT documentation & messaging 58

Fraud; Is Ignorance Really Bliss

Just stopping payment fraud attempts won't cut it in today's digital payments landscape. Organisations need to be aware of any attempt and be able to track the process it would take.

Podcast
BT documentation & messaging 48

2020 Business Payments Barometer

The 2020 Business Payments Barometer arrives at an unusual time, amidst COVID-19. It provides a snapshot of how companies are managing their payments pre-pandemic. The report analyses where companies are set to make investments over the next year, where they won’t, and how a ‘new normal’ might influence these findings as we emerge from the pandemic.

Research report

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