When A Supplier Becomes a Hidden Cost Centre

What if your most trusted supplier became your biggest financial liability without you even knowing?

Olivier Cornet explores one of the most underestimated threats in corporate finance: supplier fraud through fraudulent IBAN changes.

Through a concrete case study, Olivier explains how a seemingly routine process, updating vendor banking details during an ERP migration, can be exploited by fraudsters working with internal accomplices. The result: payments diverted to the wrong accounts, month after month, with losses potentially reaching 3% of annual turnover.

The article breaks down the mechanics of this fraud, the warning signs organisations too often miss, and the two critical levers that can prevent it: automated controls over vendor master data and real-time monitoring of payment anomalies.
Because detecting fraud after the fact is never enough : the goal is to deter it before it happens.

Read the full article on The Fintech Times