As Q2 begins, finance teams face a critical opportunity to reinforce internal controls and stay ahead of rising fraud threats. The Federal Bureau of Investigation (FBI) estimates that over $50 billion has been lost to business email compromise (BEC) scams across the US and internationally. These targeted attacks are becoming more frequent and sophisticated, often exploiting gaps in financial processes and vendor management.
Now is the time to reassess financial controls, close any gaps, and prepare for a more secure second half of the year.
The beginning of Q2 is an ideal checkpoint. It allows finance leaders to evaluate whether current processes are effective, identify any weak spots, and address them before they turn into major problems.
This isn’t only about compliance. A mid-year reset helps build operational resilience and reinforces a culture of ongoing improvement. Financial controls work best when they’re responsive and regularly reviewed, not static.
Call back controls continue to be one of the most effective ways to prevent payment fraud. Yet many teams still treat them as optional or time-consuming.
Whenever a new supplier is onboarded or banking details are updated, finance teams should independently confirm those details using a trusted contact method. Relying on information in emails is risky because it can be easily manipulated. This simple, often manual control can stop fraud before it happens.
Manual tasks like invoice verification and approval workflows are necessary, but not always sufficient. They can slow teams down and introduce inconsistencies. Worse, they leave room for human error and fraud.
Automated internal controls solve many of these problems. They create consistency, reduce friction, and give finance teams back valuable time to focus on strategy rather than routine checks.
Automation doesn’t just make processes faster. It also makes them more secure. A solution like Eftsure helps ensure finance teams apply controls consistently across the board.
By verifying supplier data automatically, flagging anomalies in real time, and creating a clear audit trail, technology removes the guesswork. This adds another layer of protection while supporting operational efficiency.
One-off reviews are better than nothing. But financial controls work best when they evolve with the business. Continuous monitoring helps your team keep pace with change.
Eftsure supports this with a constantly updated database of verified supplier details. Rather than relying on periodic manual reviews, your controls become a live part of your operational ecosystem.
This approach makes it easier to identify risks early, adapt to new threats, and keep controls tight all year round.
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