How do large firms prevent a CFO from stealing money? Maker Checker, Four Eyes, Six Eyes. https://qr.ae/pv2L9u

How do large firms prevent a CFO from stealing money? One way I’ve heard involves using dual signature bank accounts. However, I only see banks offering dual signature checks. Are there banks that offer dual signature on ACH transfers as well?*

Companies generally implement a Maker-Checker process to ensure that a payment is seen by at least 2 people, hence Four Eyes process. Some companies even follow a Six Eyes process.

The process is implemented in one of the following systems:

1. Checks with dual signatories, as you have mentioned. (I have not seen triple signatories on a check yet)
2. Print letter used by company to submit payment data to Bank.
3. Email used by company to submit payment file to Bank.
4. Bank Website on which company uploads payment file.
5. Bank Website on which company initiates payment manually.
6. AP or ERP system from which the company initiates payment.
7. The intermediate “Corporate to Bank” or C2B system that connects a company’s AP / ERP system to Bank’s System.

*: This is the original question I answered. I’m repeating it to help me make sense of my answer in case it’s moved to / merged with some other question that I didn’t answer.