Tipalti takes great care in handling the safety and security of your funds and payees. In addition to our efforts, we advise you to follow some simple best practices to prevent fraud. These tips are essential to remember and use daily to safeguard you and your payees from fraud or loss.
While these best practices can minimize fraud, nothing can truly prevent it. If you feel something is amiss, put yourself in the shoes of the payee and ask, does this situation make sense? Use the following best practices to help prevent and identify potentially fraudulent situations.
Fraud Prevention Best Practices
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Create a strong password.
- Try not to choose a password that can be easily guessed, such as your birthdate, dog's name, common words in the dictionaryetc.
- Longer passwords are harder to crack. Experts suggest using a minimum of 12-16 characters or more and passphrases with a mix of letters, numbers, and symbols.
- Don't repeat passwords across multiple accounts.
- Try not to choose a password that can be easily guessed, such as your birthdate, dog's name, common words in the dictionaryetc.
- Ensure extended 2FA is turned on for all payees.
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Question unusual or unexpected requests.
- If a payee requests to change payment details, check if the email address is on file and if there have been any recent changes to their contact information.
- Review payees for frequent banking details/payment method changes.
- Ask yourself if this request makes sense.
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Trust your instincts.
- If something feels off, do not proceed until you've done your research and due diligence.
Additional Resources
- Fraud Library of Information
- Automation & Financial Controls
- Payee Dashboard Article
- Payee User Guide
- Detect User Guide
- Documents User Guide