Each year, electronic payment fraud costs American businesses billions of dollars in losses.
And this type of fraud only continues to grow. Under NACHA rules, your organization has only 24 hours to return certain fraudulent ACH transactions. Additionally, the non-financial impacts of fraud are potentially just as damaging as the pure monetary loss. Make sure your accounts are protected, today. We’re dedicated to working with our clients to put the necessary protective measures in place to protect them from ACH fraud and the associated financial loss.
Choose which debits get posted and which don’t.
ACH Filters put you in control, enabling you to monitor activity on your accounts and automatically stop ACH transactions that aren’t pre-authorized. Filters can include company ID, amount, and Standard Entry Class codes (SEC)—with designated staff having the ability to review unauthorized transactions. Receive notifications via automated email alerts and easily view reports online.
Shield yourself from fraudulent debits.
An ACH Block is another way to protect your account. It allows you to stop all ACH unauthorized debits, credits, or both from posting to your account and automatically flag these transactions as exemptions for further review.*
*Availability of this features is dependent upon your account type
Steps to Protect Yourself From ACH Fraud
Put an ACH Block on every account that you do not want ACH activity to be initiated from.
Put ACH Filters on those accounts where you allow ACH debit activity.
Online Banking Computer
Set up a separate computer to use for online banking transactions only and reconcile your bank account daily.
Understand Fraud Trends
Educate yourself and your staff on the risks and keep yourself informed about emerging fraud trends.
Keep up to date on the products offered by banks to protect your accounts.
Contact Your Banker
Call your banker or a Treasury Management professional to discuss your options.