How should you compare payment arrangements and fraud controls?

A “stakeholder,” “client account” or “escrow” label should prompt questions rather than end them:

• Who legally holds the funds at each stage?
• When may funds be released, and to whom?
• What segregation, reconciliation or other protections apply?
• What happens if an intermediary or owner becomes insolvent?
• Who is responsible for returning funds, in which currency?

For transfer security, the FBI recommends independently looking up a company’s telephone number and verifying suspicious payment requests rather than using contact details supplied in the suspect message. Build that independent verification into the family office’s process for material transfers and banking changes. (fbi.gov)

For US-water proposals, also require itinerary-specific operating confirmation. The US Coast Guard has terminated illegal charter voyages and advises paying passengers to examine operator credentials and relevant inspection documentation. The precise requirements must be established for the proposed vessel and service; an attractive foreign-flag listing is not enough. (news.uscg.mil)