As payment fraud rises, 86% of large companies with revenue over $1 billion have been impacted by payment fraud; and banks are under pressure to protect their corporate clients.
Despite heavy investment in fraud mitigation, financial institutions find their corporate clients remain vulnerable due to inadequate defenses.
Traditional bank letters, easily forged in the age of Deepfake AI, are no longer sufficient for verifying approved beneficiaries. Modern, technology-based anti-fraud solutions are essential for banks and credit unions to fortify their defenses.
In this video, you’ll gain insights on:
- The weakest links in existing payment protocols
- The inadequacies of AML and KYC regulations against global crime rings
- Risks to banks from corporate clients’ weak anti-fraud protections
- Enhancing security beyond signatory rights
- Technology-based solutions that also offer new revenue opportunities
Watch this interview with Nithai Barzam of nsKnox and American Banker to learn how banks can better protect their corporate clients from payment fraud and enhance their security measures.
