To curb attempted fraud, banks should:

Last Updated on January 29, 2022 by Admin 3

To curb attempted fraud, banks should:

  • Require greater vigilance by the management and staff.
  • Take particular care when the beneficiary is a third party to the deal.
  • Ensure that details of all telephone deals which do not include pre-agreed standard settlement instructions are confirmed by telex or similar means without delay.
  • All of the above.
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