TOPIC: ACH

Demonstration | Real-time Detection for Payments Fraud - Join us April 8

April 08 at 12:30 PM - 01:30 PM EST
Real-time Detection for Payments Fraud
Cross-Channel Analysis to Prevent Fraudulent Wire & ACH Transfers

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Fraudsters will use every available channel to target your institution, including exploiting the speed and convenience of ACH, wire transfers, and new payment channels for their fraudulent schemes.

Join us for a discussion on the trends and challenges facing financial institutions in combating fraudulent transfers. We will demonstrate how Verafin’s Financial Crime Management platform leverages big data intelligence for real-time detection of wires and ACH to protect your institution and customers from loss.

Highlights will include:
  • Trends in payments fraud such as business email compromise, third-party scams, and first-party fraud through A2A/P2P systems, including Zelle transfers.
  • Big data intelligence for false positive reduction and payee confidence that improve alert quality by looking across the Verafin cloud for known payments into new and altered accounts.
  • Cross-channel fraud analysis with integrated Account Takeover analytics with Wire, ACH, and P2P Fraud analysis — including real-time integrations to detect unusual payments and transfers.
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    TELECHECK/TRS RECOVERY SERVICES

    AVP at a bank ($405MUSA)
    For the second time, I have a customer (separate customers) that have disputed ACH transactions as unauthorized and telecheck has turned them over for collection with TRS Recovery Services.  The 1st customer had forgeries and all paperwork was completed.  The 2nd customer had unauthorized web payments.  All of these items were returned with the appropriate unauthorized tran codes.  Have any of you had this happen?  And did you find a way to help your customer?

      IAT's

      AVP at a credit_union ($175MUSA)
      Our FI reviews all IAT's for OFAC and has for a while.  Lately we are seeing larger IAT's.  Do others have a certain dollar amount that they review in more depth?  what all else do you review?  The account history?  Anyone have a good process they can send?

        Tax Refund Deposit through Tax Products SBTPG LLC

        VP at a credit_union ($162MUSA)
        We have a customer that prepares taxes.  She just received a very large ACH deposit from Tax Products SBTPG LLC.  It appears this is a third party used with Turbo Tax and other companies to get tax refunds quicker. They take a fee out of the deposit, then the funds are supposed to be deposited to the customer's account.  My concern is if since she is preparing taxes for clients and then having the funds deposited to her account then she gives to them.  I know that there are rules with ACH payments from the IRS Tax Refunds but I didn't know if the same would apply for a third party processing company?  Is anyone familiar with this company and businesses doing this? Or can anyone give any guidance on if this should be prohibited since it is tax funds? 

          FCM Report Extract

          Manager at a bank ($200MUSA)
          Hi, we are new to FIS. Does anyone know why some of data are missing when extracting FCM report? For example, I tried to extract AH0314P1 (ACH Originating File Report) daily report by using "Effective Date between 1/2/2020 and 1/30/20" on "Record to Extract" field. But somehow it came out it is not a complete data. Does anyone have experience on this?

            Demonstration | Online Account Takeover: Detecting Fraud in a Digital Age - Join us Feb 5

            February 5 at 12:30 PM - 01:30 PM EST
            Online Account Takeover: Detecting Fraud in a Digital Age
            Preventing Losses with Big Data Intelligence, Machine Learning and Cross-Channel Analysis

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            Online customer accounts are a serious target for sophisticated cybercriminals looking to commit unauthorized transfers and harvest data to perform numerous types of fraud.

            Join us for a demonstration of Verafin's Fraud Detection and Management solution that leverages big data intelligence and Machine Learning in cross-channel fraud analytics to detect online account takeover and related fraudulent activities. Learn how Verafin’s advanced analysis of multiple data sources, such as online banking systems, deposit and withdrawal channels, and consortium data in the Cloud, can identify a wide range of abnormal activities, identifying potential account takeovers and alerting you in time to prevent loss.

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              ACH Origination file delivery back up method- Fiserv service bureau bank using Apiture online banking

              Manager at a bank ($205MUSA)
              We are a Fiserv premier core outsourced bank and use Apiture online banking. We are looking for a back up method for ACH origination files when the direct connect between Apiture and Fiserv fails. Or, as happened today, an originator needed a file pushed after cut off. Apiture was able to deliver the file to us, but we had trouble getting to to Fiserv. Any recommendations for a secondary method to submit files? 

                Demonstration | Real-time Detection for Payments Fraud - Join us Jan 22

                January 22 at 12:30 PM - 01:30 PM EST
                Real-time Detection for Payments Fraud
                Cross-Channel Analysis to Prevent Fraudulent Wire & ACH Transfers

                Register Now


                Fraudsters will use every available channel to target your institution, including exploiting the speed and convenience of ACH, wire transfers, and new payment channels for their fraudulent schemes.

                Join us for a discussion on the trends and challenges facing financial institutions in combating fraudulent transfers. We will demonstrate how Verafin’s Financial Crime Management platform leverages big data intelligence for real-time detection of wires and ACH to protect your institution and customers from loss.

                Highlights will include:
                • Trends in payments fraud such as Business Email Compromise, third-party scams, and first-party fraud through A2A/P2P systems, including Zelle transfers.
                • Big data intelligence for false positive reduction and payee confidence that improve alert quality by looking across the Verafin cloud for known payments into new and altered accounts.
                • Cross-channel fraud analysis with integrated Account Takeover analytics with Wire, ACH, and P2P Fraud analysis — including real-time integrations to detect unusual payments and transfers.
                Register Now

                  Demonstration | Real-time Detection for Payments Fraud - Join us Jan 22

                  January 22 at 12:30 PM - 01:30 PM EST
                  Real-time Detection for Payments Fraud
                  Cross-Channel Analysis to Prevent Fraudulent Wire & ACH Transfers

                  Register Now


                  Today’s criminals are scamming your customers to transfer funds and compromising email or online accounts to send fraudulent wires or ACH transfers. Whether it’s a single large-value wire that’s gone in seconds, or many smaller ACH transfers that are just under your reporting threshold — the potential for loss is very real.

                  Join us for a discussion on the trends and challenges facing financial institutions in combating fraudulent transfers. We will demonstrate how Verafin’s Financial Crime Management platform leverages big data intelligence for real-time detection of wires and ACH to protect your institution and customers from loss.

                  Register Now