Dave Meynell Reacts to June 2024 DCW Articles

In his article, “Banks Authenticating Beneficiaries’ Drawings: Advantageous or Unnecessary?”, Glenn Ransier makes a number of excellent points, querying whether hybrid solutions have actually resolved any potential fraud situations. Personally, I am not convinced that such hybrid approaches would definitively avoid potential legal intervention.

Accordingly, in view of the cost, resource, and time effort involved in such a process, Glenn is absolutely right to question the practicality. Market feedback will be very interesting on this specific issue.

I’m always pleased to see observations with regard to a Technical Advisory Briefing (TAB), as it promotes broader awareness of these helpful guidance topics.