For new and updated suppliers, we need to do a few extra checks before Telleroo can send larger payments.
You'll see an automatic 'Verify supplier' alert, allowing you to confirm supplier information before a payment is sent.
These alerts will appear when your pay run is at Awaiting Approval. They can also appear at Awaiting Review if you are an accountant or bookkeeper with this stage turned on.
Why are these checks important?
Why are these checks important?
Fraudsters are getting clever. Emails can look like they're from your supplier or team, complete with signatures and branding. So when you're asked to make an urgent payment to a supplier you know, it's easy to fall for a scam.
As these scams become harder to spot, there's an increasing need for strong safeguards to keep your money and accounts safe.
Telleroo already highlights new or updated supplier bank details. We also check if the payee name matches the name on the recipient bank account. Learn more.
Telleroo now monitors these changes to spot potentially fraudulent payments for you to review. Use these supplier alerts to check if payments are legitimate before they get sent.
What happens to this payment?
When you see the 'Verify supplier' notification on a payment, this means we will have to collect a few details from you before the payment can be processed. Once verification is successful, the payment is sent right away or on your scheduled date.
What happens to the rest of my pay run?
Please note, all other payments within a pay run are unaffected by this verification and will be sent as normal.
What does the verification process look like?
Supplier details are submitted: When you click 'Verify supplier', a pop-up form will ask for supplier details and information about how the payment was requested. Any Creator, Reviewer or Approver on your account can complete this form.
Supplier details are approved: If you are not an Approver, an Approver on your account will need to check and confirm the supplier details provided. Approvers can also update any details in the form when this step is applicable.
Supplier details are checked: Telleroo will run automatic checks using the details provided, showing results almost instantly. Whilst these checks are being done, you will see 'Verification in progress' underneath the payment.
Verification results are shown: Below the payment, you will see 'Details submitted' in green if all fraud prevention checks have been successful. If your payment does not pass our fraud prevention checks, Telleroo's recommendation at this point is to cancel the payment.
You cannot create and approve pay runs at the same time. This is a new update, acting as an extra fraud prevention measure.
If you approve a pay run before verifying the supplier and checking the bank account, you might end up paying someone without knowing who they are, which could lead to a fraudulent payment. This update ensures you complete all necessary checks before making a payment and helps prevent your pay runs from being flagged by our compliance team later in the process.
If there are any issues during this process, our team will be in touch. You can also chat with us at https://www.telleroo.com to discuss any concerns or questions you have about the payment.
How to submit details for supplier checks
Start by clicking the 'Verify supplier' alert underneath the payment.
Click the 'Start Verification' button.
You'll then be guided through a few questions and requested pieces of information about the payment and the supplier. Once complete, click 'Submit'.
You should now see a success message, detailing that supplier details have been submitted. 🎉 If you are an Approver, verification checks will now automatically begin.
If not, your success message will show that an Approver on your account needs to confirm these details before verification checks can start.
How to approve details for supplier checks ('Review supplier' alert)
This alert will only appear if the pay run Creator is not an Approver.
Start by clicking the 'Review supplier' alert underneath the payment.
Click the 'Start Verification' button.
Check the information already provided. If anything needs changing, you can edit the details provided.
Once you're happy with all the details, click 'Submit'.
You should now see a success message, detailing that supplier details have been submitted. 🎉 Verification checks will automatically begin once the pay run has been approved.
How supplier details are checked
Telleroo will run automatic checks using the details provided, showing results almost instantly. Whilst these checks are being done, you will see 'Verification in progress' underneath the payment.
What happens after verification?
Underneath the payment, you will see 'Verified details' in green if all fraud prevention checks have been successful. This means your payment will be sent right away or on your scheduled date.
If your payment does not pass our fraud prevention checks, Telleroo's recommendation at this point is to cancel the payment.
Under new regulations, you can get reimbursed if a fraudster has tricked you into sending them money. If you ignore intervention from your payment service provider, like the warning from Telleroo above, you might not be eligible for reimbursement. Full details can be found here.