We have blogged about this before, but some things are worth repeating, especially if it’s done so with a video that makes it particularly easy to hear and share the message.
After quickly summarizing the ACH payments landscape and the new Same Day ACH rule, our webinar explores how fraudsters could take advantage of the disruption that Same Day ACH will create. We have repeatedly seen criminals’ creativity and innovation in how to take advantage of any disruption or change.
It also reviews the options that FIs are considering for how to adapt their operations. These possible strategies are derived from conversations we’ve had with FIs plus our own experience with how fraudulent payments can still slip through undetected, or how FIs can stop them.
You can watch our webinar here.
The bottom line is that September 2016 will be here before we know it, and fraudsters will immediately start looking for ways to benefit from the tighter processing window. FIs need to be exploring now how they will handle the higher volumes and how to successfully and efficiently prevent fraudulent payments.
Our ACH solutions for ODFIs and RDFIs automate reviews, calculate risk scores for payments based on prior originator and recipient behavior, automatically release low risk payments, and provide historical context to speed fraud analysts’ reviews of high risk payments that warrant a closer look.