Fraud Protection

Fraud is a criminal act to deceive you and take your cash – it's a transaction that you didn't know about or authorise. For example, fraudsters may use your details to open accounts under your name or your business.

A scam is where you’re tricked into making or authorising a payment to a criminal’s account. Scammers impersonate banks and official organisations using emails, phone calls and texts that look and sound genuine.

Two heads are better than one - the benefits of Dual Authorisation

Dual Authorisation can add an extra layer of security to help protect your business from key fraud threats including internal fraud, bank impersonation, and authorised push payment (APP) scams like invoice and CEO fraud.

Fraudsters are always adapting their tactics. Even the most fraud savvy of us can be caught off guard under the right circumstances. In many cases of fraud reported to the bank, a scam has been stopped in its tracks where clients have opted for dual authorisation after the authoriser questioned the payment, and made further enquiries.

Barclays recommends that clients set up dual authorisation on payments to add an extra layer of security.

Choosing the 'Authorisation Required'/ 'Dual Authorisation' option significantly reduces the risk of fraud, as it makes it more difficult for a rogue administrator, user or third party who has gained access to accounts to make fraudulent changes or payments.

In addition to choosing Dual Authorisation, ensure that:

• Two separate devices are used to upload and approve the payment instruction
• Those responsible for authorising payments check what they are being asked to authorise before proceeding with the request
• Controls must be segregated so that no single person is responsible for every stage in a process.

Please visit our Internal Controls page for more information.