First Party Fraud: A Victimless Crime?

Financial Institutions and their originators are experiencing an increase in First Party Fraud. Fraudsters understand Regulation E and are becoming familiar with the ACH Network Rules for returning debit items as unauthorized transactions, rules that are in place to protect consumers and businesses from debit fraud but are being abused by false claims on legitimate transactions. Hear from the network's Risk Management Advisory Group (RMAG) about the RMAG First Party Fraud Survey results and the experiences of financial institutions and efforts to identify first party fraud and stem the losses from this type of activity. Learn what the Network is doing to support Financial Institutions and originators in their fight against false claims while protecting receivers from real debit fraud.