ACH Payments Fraud is on the Rise: How to Use Big Data Analytics to Prevent Costly Attacks

Seventy-one percent of financial professionals reported that their organizations were impacted by payments fraud in 20211.

 

The good news? That’s the lowest level reported since 2014. After reaching a record high in 2018 and 2019 (with 80 percent of...

Untangling Nacha's rules and regulations: Understanding the new changes in 2024
Learn more about Nacha’s updated rules and regulations going into effect starting in 2024.
Nacha’s New Operating Rules Changes: A Practical Guide for Financial Institutions
How to Prevent ACH Fraud: Four Best Practices for Financial Institutions

This blog has been updated. Originally published February 6, 2024.

Helping Corporate Customers Mitigate Fraud: How Financial Institutions Are Planning for the Rise in Real-Time Payments and Disbursements

by Eric Foust

 

The COVID-19 pandemic spurred large corporations and small businesses alike to double-down on their plans for adopting real-time payments. It also created a prime opportunity for financial criminals. Indeed, faster payments mean...

Part 4: Levvel Shares Top Architecture Considerations for Zelle®
Once the receiving financial institution (FI) has validated an incoming Zelle® payment against all applicable velocity, fraud, and account disposition checks, funds will be transferred to the recipient’s banking account.
Modernize Your Payments Fraud Mitigation Strategy

New and emerging banking technologies like same-day ACH offer speed and convenience for consumers. They also open the door to new fraud risks. Seeing a lucrative opportunity for theft, criminals are devising new tools for attacking modern payments...

Deposit Risk Assessment in the Era of Multi-Channel Banking  

Faster banking means faster fraud. 

Modern deposit channels—from mobile to remote-deposit capture to same-day ACH—make banking faster and more convenient for customers.  

They also make deposit risk assessment more complicated for FIs.  

Bad actors are...

3 Key Ingredients for Your Payment Fraud Detection Strategy

Payment fraud detection is difficult to perfect. It’s a slippery form of fraud that shifts its shape as new technologies emerge. Indeed, criminals are relentless in their pursuit to steal funds via unauthorized payments—continuously innovating new...

Top U.S. Bank Prevents $29M+ in Losses Using Verify Deposit

This case study has been updated - originally published July 13, 2023

Faster deposit channels like remote deposit capture and same-day ACH make banking more convenient for consumers. But as transactions speed up, deposit loss prevention solutions must...