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...

WEB debit entries continue to increase in popularity and have historically been susceptible to fraud. To combat the rising criminal activity, the rule requires businesses to validate a consumer's bank account information when initiating an ACH debit transaction.
Any organization that offers consumers the ability to pay their bills with their bank account via the web or mobile device must add an additional layer of security before March 19, 2021.

ACH fraud losses soared by 63% in 2021, and the danger persists today, with 30% of organizations facing fraud activity1. Explore how to leverage predictive analytics to stop fraudsters in their tracks with our comprehensive guide where you will learn...

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...

The real-time revolution is here. The government is encouraging the industry to quickly enable faster payments.
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.

Payment fraud is nothing new, but the sheer volume and escalation of losses for financial institutions (FIs) year over year is.

Faster payments options like same-day ACH are quick and convenient for consumers, but criminals are taking full advantage...

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...

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...

Enhance your company’s consumer experience while decreasing potential misdirected payments, and confidently validate account ownership and status in real-time. In this customer use case, SafeHome has two ways to fulfill its customer’s claim.

 

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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...