Maker-Checker System

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What is Maker-Checker?

The Maker-Checker (Four-Eyes Principle) is a critical security control mechanism designed to enhance financial transaction safety and prevent unauthorized or fraudulent transactions. It introduces a two-step verification process for sensitive financial operations.

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Core Concept

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Basic Workflow

1. Maker: Creates the initial transaction
2. Checker: Reviews and approves/declines the transaction

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Scope of Application

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Applicable Transactions

• Payout transactions
• Bulk payout transactions

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Activation

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How to Enable

1. Navigate to Settings > Security
2. Toggle the Maker-Checker option

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Roles and Permissions

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Permission Matrix

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Transaction Lifecycle

1. Initiation (Maker)

   • Create transaction
   • Submit for approval
   • Transaction status: Pending

2. Review (Checker)

   • Examine transaction details
   • Options:
     • Approve transaction
     • Decline transaction

3. Outcome

   • Approved: Transaction processed
   • Declined: Transaction rejected
   • Pending: Awaiting review

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Best Practices

1. Segregation of Duties

   • Makers cannot approve their own transactions
   • Checkers must be different from makers

2. Security Measures

   • Implement multi-factor authentication
   • Maintain comprehensive audit logs
   • Regularly review role assignments

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Troubleshooting

• Transaction Stuck: Contact system administrator
• Permission Issues: Review role configuration
• Approval Delays: Check checker availability