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Streamlining KYC: Best Practices in the Collection and Processing of Beneficial Owners
The new FinCEN regulation is changing how financial institutions must collect data on Beneficial Owners of certain legal entity customers. Download this industry guide to learn how you can lower the costs of compliance.
Securing Faster Payments: Protecting Your Organization and Customers from the Risks of Same Day ACH Debits
NACHA predicts that ACH Originators will generate approximately 1.4 billion Same Day ACH payments per year within ten years of implementation and rollout. Though there has not been a notable increase in fraud losses since same day credits were launched, same day debits represent a substantial risk to originating financial institutions and their customers.
Insurance, White Papers,
Beating Fraud, Beating Friction
Fraud now accounts for 5-10% of all claims-related costs in the U.S., with about one-third of insurers reporting percentages as high as 20%. To simultaneously overcome both these challenges, insurers need to drive fraud out of the claims and payments process without adding policyholder friction. Learn more
In case you missed it
In Battling Identity Fraud, Finding The (Synthetic ID) Devil Behind The Details
With the advent of chip cards in the United States, fraudsters have been looking for new avenues through which to continue their criminal enterprises. The data is out there now, more than ever before – and, as he said, all stakeholders need to be proactive in the battle.
GIACT and Advanced Fraud Solutions Announce Strategic Partnership
GIACT® Systems and Advanced Fraud Solutions (AFS) today announced a strategic partnership to enhance AFS’s TrueChecks® solution with GIACT’s EPIC PlatformTM. The joint solution gives retailers and other billers the ability to verify account status and investigate any history of account fraud, prior to accepting payment in order to reduce returned items.
Infographic: The Growing Costs of Identity Fraud
The volume of fraud attempts and the cost-per-incident of losses have increased in recent years. According to Javelin Strategy & Research's, 15.4 million consumers in the U.S. were victims of identity theft in 2016 at an estimated cost of $16 billion.