In today’s fast-paced payment environment, verifying payees is essential to combat rising corporate fraud such as Business Email Compromise (BEC), vendor impersonation, and payment redirection. These threats are growing in both frequency and complexity, making accurate payee validation a critical safeguard. Mistakes in identifying beneficiaries can result in financial loss, regulatory violations, and reputational harm. Organizations, especially those with decentralized and global operations, must prioritize robust verification processes to ensure secure financial transactions and mitigate fraud risks effectively.

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