The importance of the four-eye principle for transactions
Every day fraudsters find new ways to target you. By now they realise that emails with broken English are not going to fool you, so they are upping their game. One of the goals of fraudsters is to transfer money to their own accounts. They try to do this with many small payments or one single large one, by for example sending a user a fraudulent request or they phish their credentials.
To reduce the risk you can set up the four-eye principle for your payments. This can be done in multiple ways, like implementing dual signing for all your users. Or you can have user groups that can only initiate a payment and another group that signs them. It ensures that every payment is validated by a second or third person. This way you know payments are not altered and any mistake can be corrected before execution. That is why it is so important that the second person actually checks the details before approving. So start now and set up the four-eye principle in InsideBusiness.
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