Advanced Fraud Solutions

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ACH Payments: Preventing Fraud, Addressing Compliance

Join AFS experts as they discuss the latest threats to faster payments; how to best safeguard ACH transitions; and what measures banks and credit unions can take to meet Nacha’s account validation requirements.

Protecting ACH Payments

Safeguarding Faster Payments and Addressing Nacha Rules How do financial institutions, who increasingly rely on ACH, safeguard faster payments and stay in compliance with Nacha? The use of ACH skyrocketed during the pandemic, prompted by the need to provide faster digital payments and quicker facilitation of payroll, stimulus, B2B, P2P, and other types of transactions. In fact, Nacha announced a record year in 2020 with nearly 27 billion payments, totaling $61.9 trillion. According to a new white paper from Advanced Fraud…

Advanced Fraud Solutions Announces New Account Validation Tool to Address Nacha’s WEB Debit Account Validation Rule

Advanced Fraud Solutions (AFS), a leading provider of deposit fraud detection software, today announced TrueACH® with Account Validation – a new ACH tool that enables financial institutions to confirm account status and authorized user(s). TrueACH with Account Validation was developed in response to Nacha’s WEB Debit Account Validation Rule, which requires financial institutions to apply a “commercially reasonable fraud detection system” to validate that an account is open and accepts ACH entries.

Catalyst Corporate Partners With Advanced Fraud Solutions to Fight Check Fraud Losses

To help credit unions combat rising instances of fraud, Catalyst Corporate said it has partnered with Advanced Fraud Solutions (AFS) to offer a state-of-the-art service designed to help minimize check fraud losses.

According to Catalyst Corporate, the new solution, called TrueChecks, arrives just in time – as stimulus payment-related fraud has sharply increased since COVID-19 economic recovery efforts began last year.

Protect Business Accounts Against Fraud

Fight Business Email Compromise, Vendor & Payroll Fraud For businesses, trust in their financial institution is paramount. But with so many businesses under attack from fraud operators, where do they turn? In this webinar, the fraud experts at Advanced Fraud Solutions will explore the latest fraud tactics — including business email compromise, vendor and payroll fraud — being deployed against businesses and what financial institutions can do to help businesses proactively identify fraud, mitigate their losses and protect mobile deposits.…

The Changing Landscape Of Check Fraud

A new report from Advanced Fraud Solutions, The Changing Landscape of Check Fraud, explores how fraud operators in 2021 continue to take advantage of inexpensive technology, social engineering tactics, and remote business practices to engage in illegal and deceptive check fraud practices. To learn how financial institutions can better protect themselves and their customers and members from check fraud, download the report below.

Looking Out For Payroll And Vendor Fraud: A Financial Institution’s Guide

Protecting Business Accounts from Payment Tampering, Redirection, Business Email Compromise, Payroll and Vendor Fraud Surviving a pandemic was hard enough. Now, businesses must also fend off sustained internal and external threats from vendor, payroll fraud, and business email compromise attacks. According to the Association of Certified Fraud Examiners’ “Report to the Nations,” U.S. businesses lose…

Fighting Fraud: How To Secure Business Accounts Against The Latest Fraud Tactics, Threats

Learn how to protect against vendor and payroll fraud. Amid the COVID-19 pandemic, fraud operators have capitalized on the behavioral shifts of workers and consumers, as well as the migration of payments online and the massive increase in PPP loans, stimulus checks, and expansion of unemployment benefits. With business email compromise, vendor and payroll fraud on the rise, financial institutions and businesses must consider a proactive approach to protect their customers and assets–and their reputation–against fraudulent actors. What are some…

Self-Service Kiosks Threatened By Fraud

Necessity may be the mother of invention, but it can also solve banking problems in the midst of an emergency. Over the last four decades, overwhelming circumstances have accelerated financial technology evolution, and the COVID-19 crisis is no exception. In response to social distancing requirements, financial institutions have fast-tracked self-service banking such as interactive teller machines (ITMs), which are now increasingly a fraud target. Before the 1970s, most banking took place during business hours with the aid of tellers and…

Letter from Lawrence Reaves, President and CEO of Advanced Fraud Solutions

After an incredibly challenging year filled with economic and social turbulence, Lawrence Reaves, President and CEO of Advanced Fraud Solutions, reports on new partnerships and company growth in 2020.

Like many of you, AFS had to quickly adjust and create new ways to continue serving our customers in their fight against fraud.

Advanced Fraud Solutions Announces New AFS Positive Pay Solution To Help Financial Institutions Fight Vendor Fraud

HIGH POINT, N.C. – February 23, 2021 – Advanced Fraud Solutions (AFS), a leading provider of deposit fraud detection software, today announced the launch of AFS Positive Pay – a positive pay solution designed so that financial institutions, and their enterprise customers, can proactively monitor changes in payments information. AFS Positive Pay allows financial institutions and businesses to monitor payments and receive real-time notifications when payment information are at odds with the normal run of business. This includes flagging routing…