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EFSI, a leading alternative investment industry fund administrator, and Conduit Security, an innovative technology company created to address the financial fraud that occurs through social engineering and business email compromise, are delighted to announce a partnership which will further safeguard EFSI’s hedge fund, private credit, private equity, real estate, and venture capital fund clients against wire fraud risk.
Wire fraud risk is one of the most significant risks facing alternative investment fund managers today. Criminals are becoming ever more sophisticated and are deliberately targeting investment firms with greater frequency. This partnership between EFSI and Conduit Security means that EFSI clients will now enjoy an additional level of protection powered by state-of-the-art technology and processes.
“Alternative asset managers, and the fund administrators that support them, are all too aware of the financial and reputational risks associated with wire fraud. EFSI has a strong commitment to protecting their clients from wire fraud risk and the team at Conduit Security is delighted to provide EFSI’s clients with the guardrails to ensure that wire transfer process best practice is followed strictly so that potential risks can be identified before funds are sent,” says Ryan Castle, CEO of Conduit Security.
“Security, particularly around wire transactions, is of the utmost importance to us at EFSI. Conduit’s solution gives me and my team peace of mind when releasing wires without slowing down our operations. We can’t imagine sending electronic payments any other way,” added Anthony Mascia, Managing Partner of EFSI.
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