Comprehensive and Detailed In-Depth Explanation:Updating wire transfer processes to include verification steps (such as requiring dual approval or verifying account changes via a secondary communication method) canprevent fraudulent transactions. Attackers often use business email compromise (BEC) or pretexting to trick employees into transferring funds to fraudulent accounts.
* Standardizing security incident reportingis useful for tracking security events but does not prevent fraud in real time.
* Executing regular phishing campaignsimproves awareness but does not enforce a verification process for financial transactions.
* Implementing insider threat detectionfocuses on internal risks but does not specifically prevent external fraud.
Amore secure wire transfer processwith additional verification steps is the most effective measure against fraudulent transactions.