A new legal precedent has been set after a company paid a $190k false invoice and was ordered by the court to pay the original invoice as well
Banks are facing complex issues with mule accounts being used to channel fraudulent funds through legitimate accounts.
VigilantPay recently hosted a series of roundtables for C-Suite, CFO's and directors to discuss the prickly problem of fraud.
Vigilant Pay was chosen by ANZ Institution Australia to explore cross-border payment safety.
ANZ to collaborate with VigilantPay on cross border payment security.
Company warns of the convincing nature of video deep fakes.
Rising numbers of automatic push payment scams and real-time payment fraud is set to cost Australians over $1.5 billion annually by 2027.
Currently, there are no guaranteed protections for customers who have suffered from fraud to have their money reimbursed.
Sending and receiving banks are now required to have higher levels of compliance and accountability.
This in another great example that highlights the importance of good processes and having segregation of duties in place
