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Yes, the problem is people on the paying side not realizing that payment change requests are fraudulent. So a better process removes people on the paying side r
by scott_s 8y ago
Yes, the problem is people on the paying side not realizing that payment change requests are fraudulent. So a better process removes people on the paying side routinely changing payment information. Require that payees sign into a separate service and they change the payment information themselves.
- na85 8y agoAgain I think that just slapping a new service in there doesn't address the fundamental problem which is that the university did not conduct sufficient verification of payment details before sending out 12 million dollars. All it would have taken is a phone call to the company's accounting department confirming the change. "Verification of changes to banking details as a service" is not the answer. It's a Band-Aid solution.
- scott_s 8y agoAnd my perspective is that as long as you have a process where administrative staff are making the changes, they will cut corners. For them, these transfers are routine. They do dozens every month. You need a process which removes them from the loop.