How money leaves Halstead & Kerr: a payment docket for forty-eight thousand pounds carrying six rubber stamps — approved, second signature, within limit, details updated, in the Friday run, paid — every one correctly applied, yet the money went to an account changed three weeks earlier by an ordinary-looking email instead of the supplier's real account; the first two hours, when most of it can still be recovered; and four dull habits — ring a number you already had, keep the request and the payment in different hands, read the statement, and know who to ring in the first hour.

CY-BEGINNER-045Beginner · Financial Services Security

Authorised, And Wrong — How Money Leaves An Organisation

Every route money can go out by, why a change of bank details is the highest-consequence task in the building, why the second signature takes four seconds, and the uncomfortable fact that almost every misdirected payment was correctly authorised.

11 hours8 chapters32 lessons225 activities8 labs

What you'll learn

Count every route money leaves by, and state who can authorise what, since when, and who deputises.
Treat a change of bank details as the highest-consequence task, and verify it against a number you already held.
Explain why every control can pass and the money still go to the wrong place — and where the effort actually belongs.
Use the first two hours after a loss, and run the fifteen-minute weekly check that is the only backward-looking control there is.

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