Best Practices in Mitigating Fraud in Transaction Banking

As transaction banking becomes faster, more digital, and increasingly interconnected, fraud is evolving in both complexity and scale. This white paper provides practical, industry-driven guidance to help financial institutions strengthen their defenses across payments, trade finance, and client onboarding.

From instant payments and AI-enabled social engineering to trade document fraud and mule networks, the paper explores key emerging risks and outlines actionable strategies across prevention, real-time detection, and response. It also highlights the growing convergence of fraud with AML and sanctions risks, and the critical role of cross-border collaboration and data sharing.

Key highlights include:

    • Overview of evolving fraud typologies impacting transaction banking

    • Practical control frameworks for prevention, detection, and response

    • Insights on fraud, AML, and sanctions convergence

    • Best practices for collaboration and information sharing

    • Real-world case studies and key fraud indicators

 A must-read for financial institutions navigating fraud risk in today’s rapidly changing transaction banking landscape.

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Note: This white paper is free for BAFT members. Non-members can it download it for USD$100.