Case Study: a leading real estate developer prevents an $8M CEO fraud attempt with Kyriba

Leading Real Estate Developer prevents $8M CEO fraud with Kyriba

The customer, a leading real estate developer, faced the challenge of preventing fraudulent payments, specifically a sophisticated CEO fraud attempt. To mitigate this risk, they partnered with Kyriba to implement its treasury management platform, which enforced strong internal controls and payment processes.

Kyriba's solution enforced segregation of duties and payment authorization limits within its platform. This prevented an $8 million fraudulent wire from being processed, as no single employee had the authority to complete the transaction. The measurable impact was that Kyriba's controls directly saved the company from an $8 million loss.