The Trust Protocol

It’s time for some real-talk about fraud. Fraud is an uncomfortable topic in private markets. No CFO wants to admit falling victim to a spoofed call, phishing email, or misdirected wire — and oftentimes they won’t, publicly. Even close calls rarely make it into board conversations.

Banks are built to hold money, not move it. This leaves high-value transactors like PE firms and their fund administrators scrambling with callbacks and workarounds that don’t work.

Hey private equity, your multi-million dollar wires are sitting ducks. OpenAI's Sam Altman just dropped a truth bomb at the Federal Reserve conference — one that should terrify every Fund Administrator and PE firm still doing voice callbacks for identity verification.