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.
NCR And AFS Partner To Prevent Check Fraud At Interactive Teller Machines
NCR, a leader in omni-channel solutions and Advanced Fraud Solutions, a leader in fraud prevention services, announced that they have partnered to integrate AFS TrueChecks® into NCR’s Interactive Teller Machine platform.
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…
Advanced Fraud Solutions Releases Report On Check Fraud Detection Training Challenges, Best Practices Amid Uncertain Staffing Arrangements
HIGH POINT, N.C. – November 9, 2020 – Advanced Fraud Solutions (AFS), a leading provider of deposit fraud detection software, today announced the release of a new report, Check Fraud Detection Training, highlighting the challenges related to staffing changes and check fraud prevention. Developed as a playbook for banks and credit unions to minimize the potential for check fraud losses, the report details how a staffing crunch doesn’t have to mean an increase in risk. Download Check Fraud Detection Training…
Advanced Fraud Solution Releases Report On Prevalence Of Card-Not-Present Fraud, BIN Attacks
HIGH POINT, N.C. – October 7, 2020 – Advanced Fraud Solutions (AFS), a leading provider of card fraud detection software, today announced the release of a new report, Beating BIN Attacks: How to Protect Against Card-Not-Present Fraud, on how fraudsters are leveraging exposed card information as well as using brute force BIN attacks to target card portfolios. The report details why card-not-present (CNP) has remained so prevalent and how financial institutions can mitigate card-related fraud losses. Download Beating BIN Attacks…
Advanced Fraud Solutions Issues New Report On The Rise Of Mobile Deposit Scams
HIGH POINT, N.C. – September 14, 2020 – Advanced Fraud Solutions (AFS), a leading provider of deposit fraud detection software, today announced the release of a new report, Beware of Mobile Deposit Scams, on how the increasing adoption of mobile banking has created new opportunities for fraud. The paper explores in detail how fraud operators use mobile deposits as a means to steal funds. The paper also highlights best practices for banks and credit unions to securely accept mobile deposits.…
Advanced Fraud Solutions Finds New Customers, Avenues For Growth In The First Half Of 2020
HIGH POINT, N.C. – Aug 10, 2020 – Advanced Fraud Solutions (AFS), a leader in deposit fraud detection software, today announced a successful first half of 2020, with over 40 new customers signed, including seven banks; several new strategic partnerships and integrations; as well as new initiatives to secure deposits to mitigate new and emerging deposit fraud threats. “Fraud continues to plague financial institutions, ranging from instances of simple user-error to coordinated attacks from well-organized fraud networks,” said Lawrence Reaves,…
GLORY Picks Advanced Fraud Solutions To Further Enhance Security Of Their TellerInfinity Assisted Service Solution
HIGH POINT, N.C. – July 7, 2020 – Advanced Fraud Solutions (AFS), a leader in deposit fraud detection software, today announced a new partnership that will integrate AFS’ TrueChecks® – the industry’s leading check fraud database and comprehensive check fraud prevention solution – with Glory’s TellerInfinity Teller Assisted Service Solution. The integration will protect financial institutions from the latest check deposit fraud tactics and help them mitigate fraud-related losses. TellerInfinity enables banking customers to do more for themselves, optimizing teller…
Advanced Fraud Solutions Releases Guide To U.S. Treasury Check Validation
HIGH POINT, N.C., June 15, 2020 – Advanced Fraud Solutions (AFS), the leader in deposit fraud detection software, today announced a new report, Guide to Treasury Check Validation, on the latest deposit fraud tactics targeting U.S. Treasury checks. Over 128 million stimulus checks have already been issued by the IRS. This is a payout of over $218 billion in much needed relief. The flow of Treasury checks has also corresponded with an uptick in check fraud targeting banks and credit unions. Financial institutions face…
Advanced Fraud Solutions Partners With Access Softek To Integrate AFS Positive Pay With Access Commercial Solution
HIGH POINT, N.C. – April 13, 2020 – Advanced Fraud Solutions (AFS), a leading provider of deposit fraud detection software, today announced a new partnership that will integrate AFS Positive Pay with Access Softek’s Access Commercial solution. The integration allows financial institutions and businesses to monitor outbound check and ACH payments and receive real-time notifications when payment information (including routing numbers, account information and other details or amounts) is flagged as potentially suspicious. Access Commercial, Access Softek’s commercial banking platform,…
Advanced Fraud Solutions Releases Guide To Interactive Teller Machine Security
HIGH POINT, N.C. – March 2, 2020 – Advanced Fraud Solutions (AFS), a leader in deposit fraud detection software, today announced a new report, Guide to Securing ITMs from Fraudulent Deposits, on interactive teller machine (ITM) deposit security. The report details the benefits of ITMs for both financial institutions and consumers; the risks and targeting of ITMs by fraudulent actors; as well as best practices for ITM deposit security. “Consumer adoption and fraud typically coincide,” said Lawrence Reaves, President and CEO…
