Spotlight: Handling Suspect Credits in ACH

Description

To an experienced Operations professional, the return options available in the ACH Network may seem pretty straight forward, but Compliance Officers often realize that their unique cases require the institution to look beyond standard definitions to comply with AML/CFT and other Regulations. Considering the challenges institutions face in balancing ACH Rules with other compliance requirements, we’ve created a course just for you both!

Did you know?

• You can refuse to allow a transfer or provide funds to a consumer if you suspect money laundering /money mule activity is involved?
• You can return suspect tax refunds, even suspect state refunds?
• There’s more than one way to return an ACH credit?
• Some ACH return options do not require customer approval?
• There’s a better option over Reversals for ODFIs to recover fraudulent credits?

If you answered “no” to any of these questions, then this course is for you!

Using actual cases of fraud, we’ll examine how to handle suspect ACH credit entries.

Presenter:

Rayleen M. Pirnie, BCJ, AAP, CERP is the Director of Risk & Fraud at NEACH overseeing the organization’s comprehensive risk management program, advancing strategy to support both industry and member efforts to identify and mitigate fraud. With more than 20 years of experience, Rayleen is a leading expert in payments rules, compliance, risk management, fraud prevention, and security. Through leadership roles and years of research and dedication, Rayleen has developed a deep knowledge and unique skillset that allows her to deliver actionable solutions to not only financial institutions and financial service providers, but across other industry verticals as well. Rayleen is an Accredited ACH Professional (AAP) and a Certified Enterprise Risk Professional (CERP). She is a member of the Association of Certified Fraud Examiners (ACFE) and holds a Bachelor of Science in Criminal Justice Administration. She is an author and highly sought-after speaker.

Recorded on Wed, Jul 31, 2024 2:00 PM – 3:00 PM EDT