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The "faster payments" system – transferring money instantly – opened up a gold mine for fraudsters.
It might sound strange for a computer security expert to bemoan faster payments.
Much of the immediate problem, she said, could be fixed by working on things like getting faster payments on its sales.
It's good to see plans to bring cheques into the modern age with digital imaging and faster payments, alongside continued use the more traditional paper cheques.
Lax security checks in the past, plus the introduction of faster payments, have enabled fraudsters to move stolen money within seconds of receiving it.
He said the new policy of fewer deductions should streamline the accounting process and result in faster payments of royalties to artists.
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Repayment day resulted in my "faster" payment being returned.
But faster payment should allow tables to be cleared sooner, so more people can be served.
Typically, as a company's working capital declines, its suppliers become nervous and begin to demand faster payment for goods.
But innovations like "just in time" supply chains and faster payment systems have reduced the role of inventories and accounts receivable and, conversely, raised the role of cash on corporate balance sheets, Professor Dittmar said.
The supervisors, 10 of them current employees and one recently retired, approved invoices for work that was unnecessary or was never performed, or guaranteed faster payment for work that was performed, in exchange for the kickbacks, federal prosecutors said.
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