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Verify: ACH Fraud Detection Software

Verify LogoVerify™ 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.

 

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✔ 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.

AN EASY-TO-USE SOFTWARE THAT PRODUCES BIG RESULTS.

  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.