A Winning Formula for Fighting Fraud in the Era of Faster Payments

As payments move faster, the industry’s response to fighting payments-related fraud must accelerate too. With the time between payment initiation and settlement decreasing, the need for vigilance among financial institutions and accountholders must increase. Speakers in this session focus on credit-push payments, including those initiated via RTP®, FedNow℠, and Same Day ACH, and discuss the current payments landscape. Panelists review common fraud scenarios and highlight potential gaps in fraud prevention tactics while exploring industry tools, including the use of third-party fraud monitoring solutions, Nacha’s Risk Management Framework, and the Federal Reserve’s FraudClassifier℠ Model. These resources, in combination with sound business practices, will have your organization well on its way to developing a winning formula to fight fraud in the era of faster payments.