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ACH Fraud

Welcome to the News View for "ACH Fraud".

Here, on these archive pages, you'll find all of the articles on Payments News for ACH Fraud listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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August 28, 2014

Headline News from PaymentsNews.com - August 28, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 09, 2014

Headline News from PaymentsNews.com - April 9, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 24, 2014

Headline News from PaymentsNews.com - January 24, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

August 15, 2013

Headline News from PaymentsNews.com - August 15, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 25, 2013

Headline News from PaymentsNews.com - June 25, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 11, 2013

Headline News from PaymentsNews.com - June 11, 2013

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Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

August 14, 2012

Guardian Analytics Unveils Behavior-based Fraud Solution for ACH

GuardianAnalytics logo 150pxGuardian Analytics has announced FraudMAP ACH, a new product that automatically analyzes ACH batches and transactions and prioritizes the highest risk payments for review.

"With ACH transaction volumes growing and criminals more eloquently tampering with ACH files, financial institutions are expending significant resources monitoring for fraudulent transactions and in many cases failing," said Craig Priess, founder and vice president of Products and Business Development at Guardian Analytics. "This is not a sustainable model. FraudMAP ACH fundamentally changes both the manner in which and how successfully a financial institution manages ACH payments risk."

January 09, 2012

June 16, 2011

June 07, 2011

November 17, 2010

November 03, 2009

FBI Issues Warning about Fraudulent ACH Transfers

The FBI issued a press release earlier today highlighting concerns about an increase in ACH-based fraud targeting online banking credentials of small businesses, governments and school districts.

From the press release: "Within the last several months, the FBI has seen a significant increase in fraud involving the exploitation of valid online banking credentials belonging to small and medium businesses, municipal governments, and school districts. In a typical scenario, the targeted entity receives a “spear phishing” e-mail which either contains an infected attachment, or directs the recipient to an infected website. Once the recipient opens the attachment or visits the website, malware is installed on their computer. The malware contains a key logger which will harvest each recipient’s business or corporate bank account login information. Shortly thereafter, the perpetrator either creates another user account with the stolen login information or directly initiates funds transfers by masquerading as the legitimate user. These transfers have occurred as both traditional wire transfers and as ACH transfers." READ MORE »

March 11, 2008

Concerns about Payments Fraud

The Association for Financial Professionals reports results from its 2008 AFP Payments Fraud and Control Survey concluding that" "payments fraud continues to challenge treasury and finance professionals, with almost one third of respondents to a new AFP survey reporting that incidents of fraud increased in 2007 compared to 2006."

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February 05, 2008

Memento Helps Protect Banks from Emerging ACH Fraud Threats

Memento has introduced a solution to address the escalating Automated Clearing House (ACH) fraud problem. The company says that "through proactive monitoring and detection, Memento Security, the company’s flagship platform, quickly identifies fraudulent activities that include identity fraud, kiting, reverse phishing, insider fraud and counterfeiting."

Separately, Memento announced that Shirley Inscoe and Mike Mulholand have joined the company. Inscoe, former Senior Vice President of Enterprise Payments Strategy at Wachovia, will be Memento’s Director of Financial Services Solutions. Mulholand, former Vision Risk Product Marketing Manager at banking and payments technology provider Metavante, has been named Director of Fraud Solutions Strategy.

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