Bank transfer fraud: Crédit Agricole CIB joins forces with Trustpair

CACIB, Crédit Agricole's investment bank, has decided to offer its customers a new service to combat transfer fraud. To this end, it has partnered with fintech Trustpair, which specializes in fraudulent RIBs and secure payments.

Bank transfer fraud, a major challenge for large companies

Crédit Agricole's investment bank, CACIB, recently announced a partnership with fintech Trustpair, which specializes in combating money transfer fraud.

According to the annual Fraud and Cybercrime barometer carried out by the Association nationale des Directeurs Financiers et de Contrôle de Gestion (DFCG) and Euler Hermes, a subsidiary of the Allianz Group, 2 out of 3 companies will have suffered at least one fraud attempt in 2021.


Among fraud victims, 33% suffered losses of over €10,000, while 14% suffered losses of over €100,000.

Cybercrime and money transfer fraud are " real challenges for the finance departments of major corporations ", according to a joint press release from Trustpair and Crédit Agricole CIB. Their increase in recent years has been boosted by the health crisis, which has led to massive use of teleworking and accelerated the digitization of corporate activities.

CACIB prepares further partnerships to enrich its services

Against this backdrop, the partnership between CACIB and Trustpair aims to enable companies to combat fraudulent RIBs via a new risk management solution.

Trustpair already possesses this expertise, offering financial departments of mid-sized companies several services to prevent identity theft.

Customers of its platform benefit from " continuous monitoring of the existing supplier and customer base ", and are notified in real time when a new risk arises.

" All manual processes for controlling supplier and customer data" are digitized for greater security, and these various solutions are integrated " into their tools and processes, thanks to connectors and application programming interfaces (API s)".

Under this partnership, customers of Crédit Agricole's investment bank are put in touch with Trustpair to take advantage of the services offered, and benefit from preferential conditions. This new offer does not generate direct revenue for CACIB, which is currently working on other partnerships to diversify and enrich its services.