ACH Fraud Prevention – Finding A Needle In The Haystack

According to the NACHA website, it is anticipated that ACH transactions will surpass checks as the leading form of payment received from business customers by 2020. Approximately, ACH will account for 45% of payments and checks 12.5% and cards 12.5 %, by 2020. ACH fraud never ceases to amaze financial institutions because of the rapidly growing ACH transactions.

A Sleeping Giant – Preparing To Boom

The FBI and industry estimates state that ACH fraud amounted to approximately $1 Billion in 2016 which however doesn’t sound very alarming if compared to other fraud types. Irrespective of its low-intensity impact, it is projected as a sleeping giant that may grow to an alarming extent in the future. The shift to Same Day ACH is fuelling the propensity for fraud.

24x7 QPS Research Desk – An Efficient Way to Stay Ahead of Fraud Curve

ACH fraud typically originates from data theft involving customer’s vital information. Scammers carry out data security breach via malware and thus facilitate the transfer or payment requests in an unauthorized manner. To help you out of the glitch, a well-structured research helpdesk at QPS proactively analyzes emerging fraud trends and malicious strategies of scammers for effective fraud prevention.

Keep The ACH Growth Engine Humming With A Modern Fraud Protection Solution

A Synergy of Human Eye Review + Machine Intelligence – Perfect Antidote for Fraud

QPS has been offering its clients with the modern and highly evolved fraud mitigation solution for preventing ACH fraud. QPS’s ACH fraud prevention solution is tailor-made with a combination of human intervention and machine intelligence to help you in safeguarding your accounts from unauthorized ACH debits and credits. QPS’s cross-trained fraud prevention analysts available 24*7*365 inclusive of holidays and weekends provide real-time transaction monitoring to block all fraudulent transactions.

how can we help you?

"Our use of QPS's allowed us to seamlessly and effectively extend our existing staff into after hours, weekend and holiday coverage to match the never ending efforts of the fraudsters. Their collaborative approach to partnering with Bethpage and our combined laser focus on transaction monito ring has resulted in quite significant confirmed fraud saves and a higher level of member service."

Robert Hoppenstedt

"Our partnership with QPS has helped us with a robust round the clock transaction monitoring framework inclusive of rule efficacy and a structured fraud fighting approach."

Shanta Sewnarain
Asst. Vice President - Operations and Risk, Bethpage Federal Credit Union

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