Case Study: a large logistics firm strengthens payment security and prevents fraud with Eftsure

Logistics firm discovers 12-year internal fraud

A large logistics firm discovered a devastating 12-year internal fraud scheme perpetrated by a long-trusted employee. This individual had exploited a weakness in the banking system, which does not verify account names, to create fake invoices and divert hundreds of thousands of dollars. The firm needed a robust solution to restore confidence and prevent a future incident, leading them to the vendor Eftsure.

Eftsure provided real-time vendor verification, offering the firm unprecedented visibility into vendor details and bank account changes. The solution restored confidence and delivered measurable results, including enhanced security to stop fraudulent transactions and a streamlined process that saved their Accounts Payable Officer at least 30 minutes per payment run.