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Dear Community,

I hope this message finds you healthy and safe during this challenging and unprecedented time.

While we are mindful that there is an overwhelming amount of advice, information and opportunism appearing in your inbox, in the interests of protecting the Australian business community, we have – after seeing a massive upswing in attempted frauds over the past two weeks  – decided to issue this alert.

Because while most businesses face COVID-19 with caution, and in some cases angst, fraudsters and cyber-criminals see it as an opportunity. 

Historically, fraud increases during times of crises and it is no surprise that there is an explosion of COVID-19 related malware and phishing scams

However, the scams leveraging COVID-19 as subject matter are far less concerning than your organisations’ increased vulnerability to all forms of cyber-crime. 

The impact of the coronavirus outbreak and specifically mass remote work will directly impact financial control environments and payment controls: 

1. A remote workforce and finance team makes dual-authorisation, compliance checking and call-back controls more difficult to maintain.

2. Mass remote work strains IT infrastructure and support capability while geography weakens IT security environments.

3. A demand for cash leads to a rapidly higher volume of legitimate invoicing and payment requests, making it easier for fraudsters to ‘slip-in’ illegitimate ones.

4. A distracted, anxious workforce makes checking and control protocols more susceptible to error.

5. Productivity challenges lead to shortcuts and frustration, inevitably impacting payment controls. 

While eftsure always enhances procure-to-pay controls by verifying your payees before you pay, during these times, we can certainly strengthen your organisation’s immunity and prevent one pandemic becoming another.

To find out more, consider downloading our one-page checklist on payment control best practice here.

Alternatively reply to this email and our team will get in touch with you. 

In health and safety,


Mike Kontorovich
CEO eftsure

Talk to us 1300 985 976
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