Fraud related to false bank slips is a big problem for companies. In these cases, as the barcode is changed, the payment goes to the fraudsters. This scam was more common with printed documents, but it already occurs on cell phones and computers.
In this scenario, financial reconciliation can be very useful for companies to be able to identify errors, inconsistencies and fraud. This process follows the origin of a payment until the amount reaches the merchant’s account.
In this article, you will understand how financial conciliation can be the solution for those who suffer or do not want to risk having problems generated by false bills in their company.
Continue reading and find out more!
The problem of fake bank slips and the damage they can cause
Sending fake bank slips is a scam that can bring several losses to companies, in different situations. As an example, imagine that the company purchased raw materials online.
After confirming the purchase, she received the ticket directly in the email. The financial team, then, does not check the origin and settle the amount. A few days later, he realizes that the purchase was canceled because the supplier did not identify the payment.
Normally, it is only at that moment that the company discovers that the payment slip was false. As a consumer, the main loss that the company will have is the time that will be spent to get the reimbursement of the value with the supplier and the responsible bank.
In addition, you may have difficulties for new raw material for the same price. On the other hand, if your customers are receiving fake bills, the problem could be more serious.
This is because the legislation defines that the supplier and the bank are responsible for repairing the financial damage caused to the consumer. So, even if they are not at fault for the fraud, these service providers assume the security risks regarding the issuance and payment of bank slips.
Therefore, they can be held responsible in case of tampering. In that case, the damage can be high, but not just for the reimbursement of money. When becoming a victim of a scam in which your company was indirectly involved, the customer may stop buying from your brand.
Furthermore, it is likely that he will not refer your company to friends and family. Another problem that can occur is having to deal with disputed purchases , in addition to being subject to receiving compensation claims from victims.
Ways to identify fake tickets
It is not possible to pay the document. In this way, the consumer can see if the document is fraudulent or not. Therefore, it is essential to check all the financial data presented at the time of payment.
Among them are the amount, the name of the beneficiary and if there is interest and fines. One of the factors that reveal that the bank slip is fraudulent is the name of the beneficiary being different from the one that appears on the document.
It is worth mentioning that this information must be checked at the time of payment, when the system that read the code presents the data, not just on the bank slip. Another indication is the barcode, which follows a logical sequence to avoid scams and fraud.
The first three digits, for example, indicate the payment bank registration code. It is essential to be suspicious whenever there are discrepancies between the respective bank and the initials of the barcode.
In case of doubt, it is important not to make the payment and contact the bank or the company issuing the bill. In the case of companies, there are also tools that help identify problems with documents.
About financial reconciliation
After understanding the problems caused by fake bank slips and the damage they can cause, it is necessary to know how the company can take precautions. For this, the concept of financial reconciliation needs to be clear.
This is one of the most important processes in the financial management of the business. It aims to compare internal and external data, verifying if they have the same values. This helps companies to have more reliable results.
With this verification, companies can identify inconsistencies, errors and even fraud. Therefore, practice is essential to achieve success in financial operations. On the other hand, if done manually, it will involve many challenges — which can make it less effective.
Workflows with decentralized information, ineffective planning, disintegrated processes, among other issues, affect analytics. It is even common for companies to adapt to these factors, instead of trying to eliminate them.
In this sense, financial reconciliation also involves eliminating bottlenecks that hinder the identification of fraud and having the right tools. Consequently, flows become clearer and processes can be better analyzed.
Relationship between financial reconciliation and fake bank slips
Now that you know more about financial reconciliation, you need to understand how it can help solve the problems caused by fake bank slips. In practice, one of the processes that are part of this service is the reconciliation of payments.
It allows you to have an overview and strategic view of the commitments that the company has. The process involves relations with suppliers, customers, employees and others, allowing to identify whether the obligations with them were, in fact, consummated.
That is, the reconciliation of payments identifies the amounts paid and whether they were extracted from current accounts. If the tool used in this process is automated, there are many benefits, in addition to productivity gains and greater adequacy of the procedure.
In this case, there are gains also in the identification of false slips. With a good financial reconciliation tool, it is possible to identify and track each sale, confirming the capture and associating it with internal data that can help identify changes.
With this, the company has control over all events related to its sales. Therefore, it is also possible to be more agile to identify suspicious movements and take appropriate measures in order to avoid further damage.
Thus, the reconciliation of payments becomes transparent, as the system calculates the amounts effectively credited to the bank account with greater precision.
Understanding how the scam of fake bills works and how it can be avoided is essential to avoid financial losses in companies. With the help of constant technological advancement, scammers have innovated in the ways of applying it. So, relying on financial reconciliation can be an important way to prevent fraud.