Cash Transfer Controls - Getting Below the Surface

Effective account opening and cash transfer procedures are the most important and simplest safeguard to prevent the misappropriation of a fund’s assets. In almost every operational risk review, a fund manager will be asked “What controls exist over cash transfers?” In most instances, the manager will reply: “All transfers require multiple staff to prepare, review and approve transactions prior to cash movement.”  Getting below the surface and investigating in detail the manager’s assertion that a ‘four eyes’ approach is required to approve all transfers can, however, yield a very different result.

Please click here to download our white paper entitled "Cash Transfer Controls - getting below the surface".

November 2012

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