Early Warning Services Brian Dearle âWells Fargo Bank

More documents

Recommendations

Info

Today’s Challenges Credit Account Payments Online and Telephone <strong>Bank</strong>ing DDA Funding Online and Telephone <strong>Bank</strong>ing ACH payments in this environment are great tools but carry a risk 2
ACH “Unauthorized”Returns The Hard Part Returns for “unauthorized”often take far longer than returns for NSF. Normal holds & floats don’t cover most R10 returns. NACHA rules: up to 60 days from DDA statement date State UCC: can be up to 7 years Many/most R10s are not malicious, just innocent errors R07 and R10 Fraudsters have identified this as a big, easy opportunity. Many FIs do not have reporting to track their losses, nor manage the risk. 3
Page 1: Preventing Fraud with Identity to A
Page 5 and 6: Magnitude of the Problem Subset -On
Page 7 and 8: Opportunity Outweighs Problem Onlin
Page 9 and 10: 1. Voided Original Check •OldFa
Page 11 and 12: 3. Restrict the Transaction •Rest
Page 13 and 14: 5. Trial Deposit •Trial Deposit
Page 15: 15 Discussion

Early Warning Services Brian Dearle âWells Fargo Bank

Create successful ePaper yourself

Delete template?

Save as template?

Early Warning Services Brian Dearle âWells Fargo Bank