This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
04/04/2018
The ACH Problem: How its Biggest Upside is Being Exploitedeme
Digital Transactions
Accounts receivable professionals say that they expect nearly half of all payments will be made by way of ACH by 20201. But while financial institutions, payment providers, businesses and consumers continue to adopt and benefit from faster payments, significant new challenges and risks are emerging in tandem.
Fraud is ever-adapting and faster payments is no exception. The same benefits that Same Day ACH provides can also be its biggest weakness. The shortened settlement window, for example, can easily be taken advantage of by fraudsters who are able to bypass existing fraud prevention tools.
In the midst of all of the excitement and rush to adopt a Same Day ACH model, now is the time to take a step proactive steps and carefully consider the following:
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information