Customer fraud protection products for banks and credit unions

The Rise of Spam Calls

Posted by Deborah Peace on Oct 24, 2018 1:17:00 PM


According to First Orion’s 2018 Scam Call Trends and Projections Report, there was a dramatic increase in cell phone scam calls over the past year, rising from a mere 3.7 to 29.2 percent. The report goes on to suggest that scam calls will reach 44.6 percent of all U.S. mobile traffic by early 2019.

Financial institutions still relying on outdated, manual methods of communicating suspicious activity to the consumer – like phone calls and recorded messages – will be at a disadvantage if spam calls continue to increase. With an uptick in spam calls, banks and credit unions should be going the extra mile to deliver a positive customer and member experience. Here are some thoughts to consider regarding how the phone scammers may impact your financial institution:

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Topics: Biometric Authentication

How One Credit Union Preps for Growth in Commercial Space & Equips Business Members in the Fight Against Fraud

Posted by Deborah Peace on Oct 17, 2018 9:30:00 AM


According to the 2018 AFP Payments Fraud Survey, instances of fraud reached an all-time high last year – 78 percent of organizations were victims of fraudulent activity. The study also revealed that checks were the most common source of fraud, as 74 percent of survey respondents experienced check fraud. As these numbers grow, many financial institutions, like West Jordan, Utah-based Mountain America Credit Union, have recognized the need for more effective security measures to protect their members from fraud.

Overcoming an Industry-Wide Challenge:

When an unauthorized transaction occurs, businesses are required by regulation to report fraudulent activity within two days compared to the 60-day timeframe allotted to consumers. Such a limited timeframe to report and dispute fraud oftentimes makes it harder for businesses to recover stolen funds. In an effort to attract more business and commercial members, Mountain America Credit Union needed a way to help these members quickly detect and respond to suspicious transactions, specifically checks and ACH debits, and protect their hard-earned funds from fraudsters.

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Topics: Fraud Prevention

Using Intelligent Automation in the Fight Against Fraud

Posted by Deborah Peace on Oct 10, 2018 9:30:00 AM

Download ACH Alert’s whitepaper, “Transform Treasury Management with Actionable Fraud Prevention Solutions.”

PwC reports that over the past year, instances of fraud within the financial sector have increased by 130 percent. As fraudsters continue to evolve and seek new ways to steal financial information and funds, account holders want more than a basic banking platform that grants visibility over transactions – they need a detection and prevention tool that enlists their participation in combatting fraud. Banks and credit unions should consider implementing a modern, actionable online banking system that empowers account holders to take action in fighting unauthorized activity.

By directly involving account holders in the fight against unauthorized activity, financial institutions can transform their treasury management systems into a driving force for success. Here are some things to consider when your financial institution is selecting a fraud prevention solution:

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Topics: Treasury Management

Improving the Customer Experience with Self-Service Fraud Prevention

Posted by Deborah Peace on Oct 3, 2018 9:30:00 AM

Check out ACH Alert’s latest whitepaper, “Transform Treasury Management with Actionable Fraud Prevention Solutions.”

Javelin’s 2018 Identity Fraud Study revealed that a record number of U.S. consumers fell victim to fraud last year - 16.7 million to be exact – with the amount stolen totaling $16.8 billion. After a fraud attempt, account holders may question their financial institution’s ability to keep their funds safe, so banks and credit unions, especially those seeking rapid growth, must take action to combat fraud swiftly and effectively or risk losing account holders to competitors.

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Topics: Treasury Management

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