LSEG Risk Intelligence Launches Global Account Verification to Help Finance Functions Tackle Supplier Fraud in APAC and EMEA

Published: March 04, 2025

LSEG Risk Intelligence has announced the launch of Global Account Verification (GAV) in APAC and EMEA. GAV is an innovative solution which checks that payee and account details match before transfers are confirmed helping corporate treasury and finance functions protect their businesses from fraudulent transactions. The expansion of GAV globally follows the initial launch for US customers in October 2024.

GAV helps organisations protect their customers by enabling real-time verification of bank accounts and ownership across 21 countries1. It verifies whether payments will reach the correct recipients by querying account information and categorises them with a “match”, a “close match” and a “no match”.

The solution is designed to combat Authorised Push Payment (APP) fraud which is when companies are tricked into willingly making large bank transfers to fraudsters posing as a supplier or vendor. It can also help to mitigate CEO impersonation fraud – a growing threat given the advancement of deepfakes.

LSEG plans to add to the number of available countries in 2025.

Dal Sahota, Head of Trusted Payments at LSEG Risk Intelligence said “As digital payments grow at a pace, so does the threat of fraud and unfortunately, corporate treasuries are in the firing line – placing extra demand upon already stretched functions.

“Fraudsters are constantly innovating and operating with greater sophistication and scale than ever before. As bad actors target vulnerabilities across multiple points of the client and vendor workflows, we will continue to invest in robust, data-driven solutions to help our customers strike back and identity risk with greater assurance.”

According to data from Trustpair, 96% of U.S. companies were targeted by at least one payment fraud attempt between September 2023 and September 2024, a 71% increase from the prior year. Also in the UK, nearly a third of UK businesses fell victim to invoice fraud between June 2023 and June 2024 according to Ivalua, a company specialising in spend management.

GAV is also available via API, meaning that organisations can seamlessly integrate account data into their systems driving efficiencies.