TOPIC: ACH

Twitter virtual currency hack- keyword search

Employee at a bank ($402MUSA)
Does anyone have a list of keywords they would be willing to share in order to search for this attack? Thank you


7/16/2020 "FinCEN Alerts Financial Institutions to Convertible Virtual Currency Scam Involving Twitter
The Financial Crimes Enforcement Network (FinCEN) is emphasizing a high-profile scam exploiting Twitter accounts to solicit fraudulent payments denominated in convertible virtual currency (CVC). Cyber threat actors compromised the accounts of public figures, organizations, and financial institutions to solicit payments to CVC accounts, claiming that any CVC sent to a wallet address would be doubled and returned to the sender. It is critical that CVC exchanges and other financial institutions identify and report suspicious transactions associated with this type of activity as quickly as possible.  Read the alert here."

    Demo Video | Unusual Access – ACH Agent – Online Account Takeover Detection

    Demo Video
    Unusual Access – ACH Agent
    Online Account Takeover Detection


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    Online customer accounts are a serious target for sophisticated cybercriminals looking to commit unauthorized transfers. Once an online account has been breached, money can be moved very quickly. This short video highlights Verafin’s targeted agent for Unusual Access – ACH which alerts investigators when an ACH transfer is attempted from an online session which is uncharacteristic for the customer. 

    Verafin’s Unusual Access – ACH agent detects when a new payee has been added during an unusual online session. This agent also features easy-to-read risk map smart evidence – visual representation of the customer’s digital fingerprint that illustrates up to six months of information and provides daily mapping of online banking access, highlighting access that is out-of-pattern.

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      Setting up an ACH in Fiserv Premier to post to a G/L Account

      Manager at a bank ($227MUSA)


      Our institution uses Fiserv Premier as its Core Processor.  When using Qwickrate to take in deposits, we do not use BPM to load the account, but rather just load the certificate of deposit through Navigator.  We set the monthly interest payments to be paid via ACH.  Some of the Qwickrate customers want the ACH to come in to a General Ledger account, rather than a deposit account.  When we are loading the certificate of deposit on Navigator, however, we do not have a general ledger option (we have checking, savings and check).  Does anyone on the Fiserv Premier Core know of any trick or of any way to accomplish this?  Thank you for any help that you can be provided.

        ARC, TEl & WEB ACH Origination

        VP at a bank ($394MUSA)
        I am looking for a bank that is currently allowing origination of ARC, TEL & WEB Entries.  I would like to discuss Policies, Procedures, Originator Audits and anything else you may have in place to mitigate risk associated with these SEC Codes.  If anyone is willing to have a conference call to discuss please message me directly.  I appreciate your time and any insight you could provide in regards to this matter.

          ACH & Wires Anomaly Detection - Verafin vs Guardian Analytics

          Manager at a bank ($3.7BUSA)
          Interested if anyone has run an actual comparison of these two. 

          Best I can tell these are 2 of the market leaders but a fundamental difference in approach is Verafin's use of their global client info to learn and track new anomalies (& fraud trends), vs Guardian Analytics taking a more localized approach only using your client base to learn and improve over time via behavioral AI. (Guardian claims by using a network, a positive at another bank vetted and confirmed false (pos) days or a week later, is too late if it skews your results.)

          I see value in both but as smaller bank, can't help but believe tapping into a global network is a big advantage. 

            Demonstration | Consolidating Fraud Prevention and Management to Reduce Losses & Improve Visibility - Join us June 16

            June 16 at 12:30 PM - 01:30 PM EST
            Consolidating Fraud Prevention and Management to Reduce Losses & Improve Visibility
            Cross-Channel Analytics, Big Data, and Machine Learning to Fight Fraud

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            Financial institutions are facing common challenges in combating fraud. Adding layers of protection to detect and prevent fraudulent activity, managing your alert volume, and reporting losses can become increasingly difficult if there are multiple detection systems across different fraud and operational teams, and ultimately leads to a lack of visibility into your true fraud problem.

            Join us to learn more about the benefits of consolidating your fraud prevention and management functions with Verafin’s Enterprise Fraud Management platform. Learn how to reduce losses, strengthen prevention efforts across all channels and departments, and enable a full picture of fraud at your institution to drive strategic decision-making.

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