ACH Alert Launches StopAccountFraud.com to Educate Businesses and Consumers on Electronic Payments Fraud

Today at the 2016
AFP Annual Conference
, ACH
Alert
, an award-winning provider of patented, innovative fraud
prevention technology for financial institutions of all sizes, launched www.stopaccountfraud.com,
a new website designed to educate businesses and consumers on ACH, wire
and check fraud.

Payments fraud is an issue that concerns businesses of all sizes, and as
the industry adopts newer technology, there are more opportunities than
ever for cybercriminals to successfully commit fraud. Enhanced security
measures at the point of sale, such as EMV security, and the fact that
business bank accounts typically carry higher balances, mean that
fraudsters often find it worthwhile to directly hack business bank
accounts by intercepting electronic payments or initiating unauthorized
ACH payments and wire transfers.

To combat this, www.stopaccountfraud.com
provides visitors with information on the risks associated with
electronic payments and offers valuable insight on tactics that
cybercriminals frequently use to commit ACH and wire fraud. The website
aims to promote the benefits of electronic payments and increase
confidence among corporations and small businesses, as well as
consumers, in ACH and wire payments. The website also details the
regulatory distinctions between consumer and business accounts, as well
as the differences in risk and the impact of fraud for businesses versus
consumers.

“As attacks by cybercriminals become more sophisticated, it is crucial
that businesses better secure their accounts by collaborating with their
financial institution in fraud prevention efforts,” said Deborah Peace,
AAP, CEO of ACH Alert. “Businesses should understand the efficiencies
and benefits of electronic payment networks because existing technology
allows them to determine if ACH or wire transactions are valid or not,
stopping fraud before it happens.”

Given the various and evolving forms of payments fraud, it is important
that businesses understand the threats they are exposed to. The website
details these threats and explains how working with financial
institutions can help businesses protect their accounts through stronger
fraud prevention measures. Several forward-thinking financial
institutions across the U.S. have already taken a proactive approach to
fraud prevention with ACH Alert’s customer-centric fraud detection
solutions, such as Fraud
Prevention HQ
. As the industry’s first exception decisioning portal,
Fraud Prevention HQ provides a fully integrated dashboard for financial
institutions’ customers to make their pay or no-pay decisions on
suspicious ACH and wire activity, effectively enlisting the account
holder in the fraud detection, response and dispute process.

To learn more, visit www.stopaccountfraud.com
and visit ACH Alert’s booth #1052 during AFP’s Annual Conference in
Orlando, Fla., Oct. 23-26, 2016.

About ACH Alert

Founded in 2007, ACH Alert provides patented, innovative fraud detection
services to financial institutions ranging from community banks to top
tier financial institutions. Relying on more than 25 years of industry
experience, ACH Alert assists financial institutions in mitigating the
risks associated with electronic payments. ACH Alert is the 2012
recipient of the Kevin O’Brien ACH Quality Award, the highest award for
quality in the ACH Network industry. For more information, visit www.achalert.com,
or follow them on Twitter @ACHAlert,
Facebook,
or LinkedIn.

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