Assessing the Threat of Payment Fraud: A Discussion with the Experts

Fraud and Financial Crime

EmilyRodenhuis HeadshotwFilter

Emily Rodenhuis

Apr 8, 2019

There’s no question that payment fraud is still a major factor in 2019. In fact, 56% of corporates experienced cyber fraud or data theft in the past 12 months. But according to Strategic Treasurer’s fourth annual “Treasury Fraud and Controls Survey Report,” Treasurers are feeling more secure and able to defend their organizations.

Payment experts warn, however, that while this news is encouraging, organizations shouldn’t let it lull them into a false sense of security. Now is not the time for companies to rest on their laurels they caution, a point that was stressed in the “Treasury Update Podcast,” episode #33.

In this installment, Craig Jeffrey of Strategic Treasurer talked with Chris Gerda, Risk and Fraud Prevention Officer, and James Richardson, Head of Market Development, both from Bottomline Technologies.

The conversation largely centered around insights provided in the survey as well as the general issue of fraud in payments. Questions discussed included:

  • What’s happening with corporate defenses and how is the industry better prepared now?
  • Where have defenses improved the most and what holes still need to be filed?
  • What’s happening with attacks and losses and what still needs to be done?

Both Gerda and Richardson bring a valuable perspective to the conversation, Gerda for his work as a SAR investigator and extensive experience with AML and Richardson for his 15+ years of work with payment-specific fraud, helping corporations to secure critical payments and reduce fraud risk (he has also written and spoken extensively on topics such as SWIFT’s Customer Security Programme, the Bangladeshi Bank Fraud, and staying compliant with changing regulations). To learn more about how making and receiving secure payments should (and should not) look, along with advice for organizations on how they can step up to take action and prevent fraudulent behavior occurring, listen in to their discussion

Related topics

EmilyRodenhuis HeadshotwFilter

Posted by

Emily Rodenhuis

Emily Rodenhuis is a creative marketing writer specializing in content creation. Her work has been featured by BankNews, InfoSecurity, AFP magazine and more.
Browse all posts
footer curve