Manipulated or incorrect master data can quickly lead to incorrect payments and significant financial losses. To help companies secure their processes, the Fraud & Cybercrime Working Group of the Association of German Treasurers e.V. has drawn up a new best practice document on the creation of business partner master data.

The document provides practical guidance on which controls are advisable when creating and amending sensitive master data. Key areas of focus include the dual-control principle, the verification of changes via independent communication channels, a clear separation of duties, and comprehensive documentation and traceability.

The publication thus offers treasury and finance managers concrete guidance on designing an effective yet practical control process.

The publication was produced by a team of authors from the Cash & Liquidity department.

Die deutsche Fassung finden Sie unter diesem Link.

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Please note that this is therefore a machine translation, which may deviate from customary professional or linguistic standards, particularly with regard to technical terminology, industry-specific expressions, or linguistic nuances.

The Verband Deutscher Treasurer e.V. assumes no responsibility for the accuracy or precision of the translation and cannot be held liable for any misunderstandings or errors arising from the use of this English version.