People who work in large corporate settings where things like this are a risk, do you have any existing rules or standardized best practices for how to minimize the risk?

People who work in large corporate settings where things like this are a risk, do you have any existing rules or standardized best practices for how to minimize the risk?

https://twitter.com/RichardHanania/status/1754257428198416393

yes, it’s called approval levels.

e.g. you need your manager, whom has a $500,000 approval limit, to approve anything. 

any more than that you need their manager to approve until you get to the board

👨‍💻 /uno and /outside, @unofficial

Is this a company policy, or is it enforced in code? (whether through multisigs for cryptocurrency, or instructions given ahead of time to the bank for fiat)

Within corporates they generally have a treasury dept responsible for all cash management, but it ends up being on the shoulders of 2 or 3 key individuals who hold all the power to send money. It is absolutely possible for one or two of them to get a fake demand from CFO or Treasurer to send money and they execute it.