This paper investigates the operational risks associated with the processing of payments. It also clarifies why traditional controls are no longer adequate to handle faster, and in some cases, real-time processing cycles, and recommends a new series of controls as the solution to these problems.

This identifies the characteristics of High Value (or Large Value) payments. It also demonstrates that traditional controls are “too little, too late” to manage the real-time processing of such transactions, and recommends a set of new controls to address the shortcomings.