Blacklisting parties can be essential when dealing with entities involved in fraud. A growing reason to apply this measure is the emergence of organizations that invoice so-called ‘no-show’ fees for events or meetings—often without participants having explicitly agreed to attend.
With SafeSpend’s BlackList feature, you can proactively block such parties from receiving payments, preventing unnecessary costs and reinforcing the integrity of your financial process.
A party included on the blacklist will receive an elevated risk score as soon as a payment to them appears in a payment batch. In the example below, the ‘score adjustment’ column shows a risk score of 10. These flagged parties can also be shared—anonymously—with other SafeSpend users. In this way, we help protect each other from unnecessary damage and costs.
The first success with this new SafeSpend functionality has already been achieved, with ‘no-show’ payments successfully prevented.