How can we minimise the risks on bank payments?

Set a limit (or threshold) on the amount of a purchase, above which it must have an approval before expenditure is incurred.  For electronic transactions, get a dual electronic signatory (Unity Bank do these).  Have debit cards only on an account which holds a specified maximum amount and make these debit cards so they can only spend up to the balance held on that account

Posted in: Procedures & Controls

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