Identify errors, fraud and scam attempts before releasing funds

Review any payment or ABA file prior to banking. Our powerful thumb alerts will confirm you’re paying the right account name and number (green thumb) or in the case of red thumb, signal there is a mismatch between the bank account name, BSB Account number and ABN.

  • ABA files or single eft payment control monitoring.
  • Automate payment info verification for large sets of data.
  • Detect fraudulent invoices early when preparing eft payments.

Supplier onboarding that is both fast and secure

Use eftsure’s web portal to build custom forms and invite suppliers. eftsure will then independently verify all required suppliers details making currently manual processes more efficient and secure.

  • Import existing suppliers to verify ABN, company name, bank account number and BSB against our network of verified suppliers.
  • Automatic third-party supplier information verification during onboarding ensure secure payments.

Avoid paying fraudulent invoices
Whether internal or external. Many scams start with a fake invoice. eftsure matches the invoice information with Australia’s largest database of verified bank and business details.
Secure Progress Payments
Progress payments are particularly vulnerable to cybercriminals. They happen often, are usually large amounts and are under time pressure. eftsure will never be compliance about any payments.
Secure vendor onboarding and management
Use eftsure’s web portal to build custom onboarding forms and invite suppliers. eftsure will then independently verify all required suppliers details making compliance and Account Payable processes more efficient and secure.
Check Tax statuses
Is the vendors ABN and GST registration status valid and current, has it been cancelled, does it match to their trading name(s)? We check when the vendor is onboarded and every time a payment is made.
“We are receiving increasingly sophisticated attempts at electronic fraud. eftsure provides state of the art protection against those frauds. Its simple to use … I won’t authorise it unless I know its been checked by eftsure.”
Michael Gowing
Group Financial Controller, Toga Group

Related links for construction industry

The state of payment fraud in the construction industry
Why Australia’s construction industry is the perfect environment for financial frauds to happen – And how to prevent falling victim.
Saving a NSW engineering firm over $1m dollar
How a large construction and engineering firm used eftsure’s Know Your Payee™ solution to prevent payment of over $1m to a fraudster as the consequences of a supplier’s business email having been compromised by a scammer.
Processing Invoices for services rendered
In this blog we will examine how your Accounts Payable team should handle the payment of invoices for services rendered so you can ensure the right amount is paid to the right service provider at the right time.

The new security standard for business payments

Eftsure provides continuous control monitoring to protect your eft payments. Our multi-factor verification approach protects your organisation from financial loss due to cybercrime, fraud and error.