Action Steps for Managing & Responding to Unauthorized Electronic Funds Transfers

Current laws and regulations place a strict burden on financial institutions to protect consumers and businesses from unauthorized electronic funds transfers—and the scope of what may be considered “unauthorized” looks likely to continue expanding. Speakers in this session explain the requirements and process for managing unauthorized electronic funds transfer claims. Attendees come away understanding the terms that should be clearly established with consumer and commercial customers regarding their responsibility for unauthorized electronic funds transfers; processes an organization can put in place for responding to claims from consumer and business customers and other financial institutions of an alleged unauthorized electronic funds transfers; and the documentation required from other financial institutions in these situations.