Using factoring companies is common practice today, and factoring offers many advantages. Even larger organizations have begun to use the various services offered by factoring companies, and the future looks bright for the factoring industry. However, there is a risk of an unpleasant surprise. Sharing a bank account number with several other organizations can have negative consequences that few people are aware of...
Manual steps in the payment process always pose a risk Any activity that requires manual work to complete a task poses a security risk. A common example of a security breach is when a supplier payment is initiated. First, standardized payment files are created in the business system. The payment files are exported to a directory on the server or network and then often...
An administrator at Lund Municipality mixed up bank account numbers with postal account numbers on three occasions when making payments, and the money ended up incorrectly with a company in Stockholm. Millions went astray – Lund will not get its money back Read the full article from SVT News here: https://www.svt.se/nyheter/lokalt/skane/miljoner-gick-fel-lund-far-inte-pengar-ater With Betalkontroll™, incorrect payments such as these can be detected and stopped before it is too late...
Fraud has increased dramatically in recent years, and all signs indicate that this trend will continue. We have listed the most common types of fraud. External fraud Fraud has increased dramatically in recent years, and all signs indicate that this trend will continue. Today, limited liability companies are a natural part of criminals' arsenal. It is estimated that at least five...
Read our guidelines for secure payments. Learn about our recommended measures for increasing internal control throughout the entire process, from purchasing to payment. We also describe risks and common deviations that result in incorrect payments. Enjoy reading! Fill in the form and we will send you a copy free of charge.
Many thanks to Nordea and to everyone who attended Nordea CM Academy yesterday! It was great to be there and share our experiences of internal control in the purchasing-to-payment process. We talked about risks and how to manage them in order to avoid incorrect payments. Read more about Nordea CM Academy
Betalkontroll™ has been invited to speak at Nordea CM Academy. We will hold the first session of the day (approx. 45 min) starting at 10:00 a.m., where we will discuss how internal and external fraud is carried out and where in the process internal controls can be increased to avoid various types of risks and incorrect payments (everything from fraud to manual errors). With...
Companies are always subject to fraud and other financial crimes. The methods are numerous and the frauds are sophisticated. Security gaps in existing business processes are exploited, with the payment process being one of them. A very important one at that. It is reasonable to believe that the majority of errors and attempted fraud are detected in time thanks to experienced and competent...
