Solution

ACH Fraud

ACH Fraud

Prevent fraudulent transfers with the power of consortium insights and behavioral evidence.

Decisively combat ACH fraud

Limited to their own data and with little insight into counterparty risk, many financial institutions are challenged by ineffective ACH fraud detection, overwhelming false positive alerts, and an inability to truly understand customer activity.

Combining behavioral evidence with consortium data and analytics, Nasdaq Verafin’s ACH Fraud solution provides powerful ACH fraud prevention with insight into the payer, and payees who do not bank at your institution. You gain full coverage against prevalent fraudulent transfer scenarios, such as authorized push payment fraud and unauthorized ACH debits, protection against potential money mules, and the ability to interdict fraudulent transfers in real time — before funds are lost.

Holistic Fraud Prevention

Using the Nasdaq Verafin consortium and insights from 575 million counterparty profiles, our ACH fraud analytics consider the complete picture of risk across the entirety of a transaction, providing exceptional ACH fraud prevention while reducing false positives, customer friction and operational costs.

Consortium of

2500

financial institutions

Insights from

575M

counterparty profiles

Holistic Fraud Prevention

Using the Nasdaq Verafin consortium and insights from 575 million counterparty profiles, our ACH fraud analytics consider the complete picture of risk across the entirety of a transaction, providing exceptional ACH fraud prevention while reducing false positives, customer friction and operational costs.

Consortium of

2500

financial institutions

Insights from

575M

counterparty profiles

Features

ROBUST ACCOUNT VALIDATION

Nasdaq Verafin’s powerful ACH account validation verifies account ownership and status by identifying demographic mismatches, relevant transaction insights, online logs, account behavior and previously identified mule accounts within the Nasdaq Verafin network.

ENHANCED PROTECTION AGAINST UNAUTHORIZED ACH DEBITS

When the sending and receiving financial institutions are Nasdaq Verafin customers, our ACH Fraud analytics can provide enhanced protection against unauthorized ACH debits with sleeper account detection, payer exposure verification, non-existent account detection, and more.

ACH SCAM ALERTS

Get alerted when it appears either a consumer or corporate customer is being victimized by a known criminal scam — including Business Email Compromise or vendor impersonation fraud — before losses can occur.

CROSS-CHANNEL FRAUD ANALYTICS

Nasdaq Verafin provides enhanced ACH transaction analysis through the examination of cross-channel activity, such as demographic changes to a customer’s account; and multiple data sources such as online banking systems to boost risk in the presence of unusual behavior.

UNUSUAL PAYMENT & DEPOSIT ALERTS

Behavior-based analysis alerts you to ACH payments and debits that are unusual for a customer based on their past behavior, including coverage for corporate customers using the ACH channel. Nasdaq Verafin alerts you to potentially fraudulent originated credits, as well as unusual payroll file alterations.

RAPID NAME MISMATCH DETECTION

Nasdaq Verafin’s ACH Fraud analytics leverage insights from 575 million counterparty profiles to identify payer-payee name mismatches in real time to improve fraud detection.

POWERFUL BEHAVIORAL EVIDENCE

Nasdaq Verafin analyzes massive volumes of information, including NACHA, core, and third-party data, to generate behavioral evidence on unusual values, unusual fingerprints and more. Evidence is segmented by fraud typology, risk-scored, and considered in concert with consortium analytics for holistic coverage against ACH fraud.

Benefits

Transact with confidence

Using insights from over 575 million counterparty profiles in concert with behavioral evidence, Nasdaq Verafin’s ACH fraud analytics consider the complete picture of risk across the entirety of a transaction for exceptional fraud detection and protection against authorized push payment fraud and unauthorized ACH debits.

Flexible real-time delivery options

Adopt Nasdaq Verafin’s ACH Fraud detection as an individual solution, part of a robust Financial Crime Management platform, or through risk scores from real-time APIs to integrate into your existing payment fraud prevention approach.

Interdict in real time

Receive alerts on potential fraud in real time and take decisive action to stop losses — before funds are released from the Federal Reserve.

Stay a step ahead with global coverage

Nasdaq Verafin uses insights from across our consortium, such as identified money mule accounts, to enhance ACH fraud prevention for our entire network of financial institution customers. All member financial institutions benefit from this global coverage, regardless of their location.

More Nasdaq Verafin Features

Integrated case management. Integrated case management functionality lets you create a fully audited and tracked investigation. Upload related files, assign tasks to other users, and document your decisions — all in one location. Learn more >
Automated SAR functionality. At the click of a button you can create a pre-populated SAR. Complete your narrative and queue it for overnight electronic submission directly from Nasdaq Verafin to FinCEN. Nasdaq Verafin can also remind you when it is time for 90-day refiling, if the suspicious activity continues. Learn more >
Enterprise reporting. With hundreds of ad-hoc data reports, and the ability to create custom reports that include the information fields you need, Nasdaq Verafin helps improve auditing, reporting and record-keeping of all aspects of your fraud and AML detection efforts. Learn more >
Cross-Channel Fraud Detection. Fraudsters will target every available channel to enrich themselves at your customers’ (and your institution’s) expense. Nasdaq Verafin’s cross-channel analysis generates data-rich alerts that help you proactively detect scams and stop fraud losses from Deposit Fraud, Check Fraud, Card Fraud, Loan Fraud, Wire Fraud, ACH Fraud, and Online Account Takeover. Learn more >

Interested in learning more about Nasdaq Verafin’s ACH Fraud Solution?