Which payment controls stop invoice fraud and fake CEO requests?
Process controls in finance, because this fraud happens in e-mail and on the phone, not on the network. The controls that work best cost nothing: confirm every change of a supplier's bank details by calling a number you already have on file, never one taken from the e-mail; require two people to approve payments above a set amount and any first payment to a new account; and let staff refuse an urgent request from a manager, without consequences, until it is verified. Add technical measures for e-mail: multi-factor authentication on mailboxes, and DMARC, a standard that stops others from sending mail in your domain's name. NetSenX does not filter e-mail and cannot see a fraudulent request; it helps only if the fraud starts with malware that then calls out over the network.
General information, not legal advice. National laws can add to the EU texts quoted here, for example deadlines, forms or reporting channels: check your own country's rules.
This answer also appears, with more context, here: For the board and finance