Case Study: a leading engineering firm prevents $1M in fraud losses with Eftsure

How a large engineering firm halts a $1 million fraudulent transaction using Eftsure

A leading engineering firm faced significant fraud risks due to the high volume of invoices it processed monthly. Despite having sound controls, the company was vulnerable to email compromise scams targeting its own staff or its suppliers. To add a technical layer of security, the organization implemented Eftsure's Know Your Payee solution for real-time alerts and verification of payment details.

Using its verified supplier database and monitoring algorithms, Eftsure detected a fraudulent attempt to change a supplier's bank details, preventing a potential loss. The solution's alerts allowed the firm to stop the payment and warn the supplier's other customers. Eftsure's intervention directly saved the engineering firm over $1 million, demonstrating a substantial return on investment and enhancing its overall payment security.