Published on Friday, December 07, 2012
One of the most common schemes involves intercepting cheques and altering them to pay into a criminal account set up purely for the purpose. All of this risk can be avoided using automated, electronic payments to cut out the dangers of criminal manipulation.
Among the recommendations made by the C&CCC to help prevent fraud, which include drawing lines through blank spaces and writing names in full, is the advice to use Bacs or Faster Payments - especially for high-value transactions.
Electronic payments solutions allow you to track the progress of your transaction and validate all bank account details at point-of-entry. This means you know the status of the payment at each stage of its journey, as well as having additional security methods to prevent malicious use.