Which method is suggested to prevent electronic payment fraud?

Daily reconciliation of accounts is a crucial method for preventing electronic payment fraud. This process allows businesses to regularly verify that the amounts recorded in their accounts match the transactions that have taken place, helping to identify any discrepancies or unauthorized transactions in a timely manner.

By conducting these reconciliations daily, organizations can catch errors or potential fraud almost immediately, reducing the risk of larger financial losses over time. This proactive approach enhances oversight and allows for a quicker response to any suspected fraudulent activities.

Maintaining accurate records and reconciling them frequently contributes to the overall integrity and security of the financial processes within a company, thereby building a strong defense against various fraud schemes prevalent in electronic payments.