Faurecia video interview
Third-party risks: The cyber dimension
If you got an email from your CEO asking you to pay funds into an account, what would you do? Do you feel comfortable enough to knock on the door and check it’s for real? Boudouin Courau, Vice President Financing and Treasury does and in this video interview says that CEO accessibility is vital for tackling fraud
Founded in 1997, French automotive parts producer Faurecia is now the eighth largest international automotive parts manufacturer in the world equipping one in four automobiles.
The French corporate designs and manufactures seats, exhaust systems, interior systems and decorative aspects of a vehicle. So it is no surprise that this corporate’s supply chains are complex and extend all over the world, which in turn puts pressure on its corporate treasury.
In this video developed by the Economist Intelligence Unit on behalf of Deutsche Bank, Baudouin Courau, VP Financing and Treasury at Faurecia shares his views on the cyber risks posed by third parties. “The main entry points and the main risks are all linked to the information we exchange with suppliers, customers banks and other third parties…there is a permanent flow of information between ourselves, suppliers and customers.” He adds, “One of the entry points that creates a risk of penetration are all the electronic data interchanges (EDI) with suppliers and customers.”
Courau confirms that Faurecia is doing a lot of awareness campaigns about payment fraud and that his top management is very accessible.