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Verify: ACH Fraud Detection Software

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Verify™ is an affordable solution that offers a simple way to detect anomalies by reviewing ACH files. This process is included in Best Practices: Reducing the Risks of CATO supported by the United States Secret Service, Conference of State Banking Supervisors (CSBS), and FS-ISAC.


Verify is an easy-to-use software the produces big results. The process is as easy as 1-2-3:

  1. Receive the ACH file from the customer and upload it to Verify.
  2. Verify checks the ACH file for anomalies, such as new or updated routing/account numbers or changes to historic amounts.
  3. Verify provides a report of unapproved accounts for the institution to authenticate.

 


✔ THE VERIFY ADVANTAGE

  • Build the trust of your customers by being proactive in catching data entry errors.
  • Prevent the reputational damage of becoming a victim of ACH origination fraud or Corporate Account Takeover (CATO).
  • Satisfy a component of FFIEC Guidance by implementing anomaly detection and layered security.