Prevent Fraud

Better protect your organization against fraud and cybercrime.

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Extend the effectiveness of standard payment controls to stop suspicious payments in their tracks.


With fraudsters continuing to evolve their hacking methods, it is critical for treasury to design policies and procedures that offer better protection from fraud risks.

That’s why Kyriba places a focus on helping companies achieve fraud prevention with effective financial controls.


82% of organisations report that they have been the target of attempted or actual fraud.

Source: Association of Financial Professionals

Prevent and Detect Fraud

Reliance on spreadsheets introduces an increased risk of financial fraud, not just to treasury but to the entire organization.

Kyriba helps companies prevent and detect the risk of fraud and cybercrime by:

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    Centralising visibility into banking activities and signatories

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    Supporting daily and intra-day reconciliations of cash activity and payment acknowledgments

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    Standardising payment approval processes

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    Enforcing internal treasury policies and best practices

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    Aligning treasury controls with information security policies

Financial controls are incredibly important in locking down the treasury function against fraudulent activity. Kyriba makes us much more secure and efficient, so we can meet our obligations and help drive global growth.
Large Private University Assistant Treasurer Read the success story

Mitigating Payments Fraud

Fraud continues to be a threat to corporate revenues and investor confidence, and it seems that the risk of fraud continues to grow. However, implementing a best-practice approach to mitigate the risk of payments fraud can help alleviate these concerns.

According to The Hackett Group, the best approaches to minimize the risk of fraud include:

  • Comprehensive and enforceable payment policies and rules
  • Embedded fraud protection and detection procedures
  • Automated and digitized payment processes
How CFOs Can Mitigate the Risk of Payments Fraud
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Enabling Better Decisions

Reliance on spreadsheets, along with the use of bank portals for treasury management, no longer provides protection against sophisticated social engineering scams that target treasury.

As such, treasury not only needs better protection for payment workflows and treasury processes but also the assurance that the correct controls are in place and that they have proper documentation to assess the effectiveness of those controls.

To improve controls and combat fraud and cybercrime, it is necessary that, at a minimum, treasury has:

  • Standardized workflows
  • Multi-factor authentication
  • Eliminated email and manual steps for workflow approval
  • Full separation of duties to reduce the propensity for internal fraud
  • Central control centers for real-time monitoring
  • Encryption of data in transit and at rest
  • Treasury-wide audit trails

Kyriba delivers these features and more so that your organization’s treasury processes align with information security policies, ensuring maximum protection against mistakes and fraud attempts. Anything less is subjecting your organization to unnecessary risk.

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