Track: Payment Systems

Enhancing Fraud Controls for Check and ACH Debit Transactions

Wednesday, October 22, 2008
9:00 a.m. - 10:00 a.m.
Room: 502 A

Traditional positive pay and ACH debit block controls are no longer effective in combating fraud. This session focuses on evaluating and implementing newer fraud control services including payee verification and ACH debit filter. The session will include a corporate case study of a company that was hit with a check fraud scam and the strategies it used to more effectively protect the company.

Speakers:

• Francine M. Hori, CPA
  Assistant Treasurer
  Packaging Corporation of America

• Susan M. Klawitter
  Vice President
  Northern Trust

Objectives

• Learn how a major company faced a check fraud scam and discover the strategies they implemented to reduce check fraud risk
• Understand how your company can be vulnerable to check fraud with traditional positive pay
• Gain knowledge of how payee verification works to enhance positive pay and identify key implementation considerations and service options
• Understand and compare alternative ACH debit control services and service features

Pre-Requisites

• An understanding of traditional positive pay and ACH processing
• Basic understanding of your company?s payment processing functions and fraud management activities

Take-Aways

• A checklist for evaluating payee verification and ACH debit filter services

CPA Field of Study: MAS