ACH Alert Prevents More Than $300 Million in Fraudulent Transactions for Account Holders Across the U.S.

, an award-winning provider of patented, innovative fraud
prevention technology for financial institutions of all sizes, announced
during AFP’s
Annual Conference
that it has prevented the disbursement of
fraudulent transactions and returned $346.5 million from Jan. 1 to Jul.
31, 2016 for account holders at financial institutions nationwide.

Since the beginning of the year, the company monitored $42.8 billion in
ACH debit transactions and $2.8 billion in credit transactions by
leveraging its proactive, layered and customer-centric approach to fraud
prevention. ACH Alert enlists account holders in the fight against
fraud, enabling financial institutions of all sizes to send actionable
alerts to customers as soon as suspicious activity is discovered, which
empowers customers to stop unauthorized transactions before the funds
ever leave their account.

Taking a proactive approach to fraud prevention is crucial for corporate
bank accounts in particular, as 73 percent of companies were targets of
payments fraud in 2015, according to the 2016 AFP Payments Fraud and
Control Survey. Additionally, businesses are subject to certain
regulations, like Article 4A of the Uniform Commercial Code, that limit
the timeframe for disputing fraudulent activity, which can result in
unrecoverable financial losses. This highlights the value of scalable
technology that directs real-time, actionable alerts to business
customers at the first sign of anomalous account activity, mitigating
the risks and financial losses associated with payments fraud.

To prevent fraudulent debit transactions, ACH Alert’s PRO-TECH,
a real-time debit approval process, triggers an actionable alert when an
ACH debit hits the account, allowing account holders to thwart
fraudulent entries immediately. On the credit side, ACH Alert’s C.O.P.S.
solution delivers alerts to account holders when suspicious ACH credit
transactions are originated, enabling users to verify the transaction
through a trusted channel, ensuring the validity of credit originations
and reducing the risk of account takeover.

“Protecting the account must be a partnership effort between a financial
institution and the customer,” said Deborah Peace, AAP, chief executive
officer of ACH Alert. “Businesses and consumers alike should pursue a
banking relationship with institutions that comprehend the importance of
helping their customers originate secure transactions and prevent
unauthorized account activity.”

To learn more, 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,
or follow them on Twitter @ACHAlert,
or LinkedIn.

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