Early Warning®’s Post

Financial institutions should adopt scalable solutions to verify bank account information and data as EFT volume rises. This will help reduce fraud, lower NIGO rates, and ensure compliance. 🔒💸 #Fintech #Compliance #FraudPrevention

Debit issues can be frustrating! Here are some common debit issues and steps to resolve them: 1. Declined transactions: - Check your account balance and funds availability. - Ensure your card is valid and not expired. - Contact your bank for assistance. 2. Card not working: - Check for damage or wear; replace if necessary. - Ensure correct PIN entry. - Try a different terminal or payment method. 3. Unauthorized transactions: - Contact your bank immediately to report fraud. - Change your PIN and card security codes. - Monitor your account closely. 4. Card lost or stolen: - Report to your bank promptly. - Request a replacement card. - Keep a close eye on your account. 5. Transaction errors: - Check your receipts and statements. - Dispute errors with your bank or merchant. 6. Account issues: - Check your account status and balance. - Resolve any overdrafts or negative balances. - Contact your bank for assistance. Remember to stay calm and patient when dealing with debit issues. Your bank's customer support is there to help you resolve any problems that arise!

This case will answer the question whether a bank owes the customer a duty to install mechanisms to monitor customer accounts for "unusual transactions" and to block the same. Watch this space for regular updates on the case. https://lnkd.in/dhAWSCMm

How much is your business losing to fraud or financial crime??? Get in touch on 02920 856737 to see how you can protect your business!

In the US, ACH payment volumes are growing at record rates. In 2023, 31.5 billion payments valued at $80.3 trillion were securely handled. Learn how to best protect ACH payments and comply with evolving Nacha rules: https://lnkd.in/eJQE9Wmy

In an era dominated by digital transactions, secure and efficient payment processes are paramount. Bank Account Verification goes beyond fraud prevention — it enhances operational efficiency, builds customer trust, and protects your digital payments from illicit activities. Learn how you can power more secure and complex payments in our latest blog 👇 https://lnkd.in/e_EReRQH #FraudPrevention #BankVerification #ConfirmationOfPayee #FinancialSecurity #BusinessProtection

In the US, ACH payment volumes are growing at record rates. In 2023, 31.5 billion payments valued at $80.3 trillion were securely handled. Learn how to best protect ACH payments and comply with evolving Nacha rules: https://lnkd.in/gAkYc5VE

If you only collect partial SSN, how will you do CIP/IDV check then? Or better yet, let's do a Senzing POC, and see how many duplicate SSN's you currently have with different names and addresses? For the Tier 2 banks - this can be accomplished in a few days, and you will find your synthetic and fraudulent accounts.

Did you know that 64% of UK businesses experienced fraud or financial crime in the past two years? In 2022 alone, this cost businesses a staggering £1.2 billion! As digital transactions continue to surge, protecting your payments against fraud has never been more critical. 🔐 Integrated into your payment workflows, our Bank Account Verification platform is the easiest, most secure way to safeguard your payments against fraud. Find out more about our Bank Account Verification platform below. 👇 https://lnkd.in/eaVK7XaW #bankverification #fraudprevention #appfraud #compliance

In the US, ACH payment volumes are growing at record rates. In 2023, 31.5 billion payments valued at $80.3 trillion were securely handled. Learn how to best protect ACH payments and comply with evolving Nacha rules: https://lnkd.in/eU-QMj46