PPD for the WIN!
07/07/2019
Our business customer has been debited 3 times by a business they don’t work with. All of the entries are PPDs that settled in the last 20 days. Do we have any recourse for our business customer?
Rayleen M. Pirnie
Bio:
Rayleen M. Pirnie, AAP, CERP, is the founder and owner of RP Payments Risk Consulting Services, LLC. based in Missouri. She is a nationally recognized payments risk and fraud expert who offers specialized consulting services, procedural and risk management reviews, and payments education. Rayleen’s specialized skill is delving into the world beyond the payment rules; areas where organizations often find themselves in positions of liability or loss with little to no clear guidance. Her programs help organizations identify and mitigate risk and exposure.
She is an Accredited ACH Professional (AAP) and a Certified Enterprise Risk Professional (CERP) who has worked with all payment systems for over 20 years. Rayleen also holds a Bachelor of Science in Criminal Justice Administration.
Questions Answered
No written notice
06/30/2019
Our customer called stating 5 recent ACH debits are “fraud.” We’ve asked for a WSUD but haven’t received it yet, and 2 of the transactions are nearing the deadline for return. Can we return based on the customer’s verbal claim? If we don’t receive the WSUD, can we deny the claim?
No written notice
06/30/2019
Our customer called stating 5 recent ACH debits are “fraud.” We’ve asked for a WSUD but haven’t received it yet, and 2 of the transactions are nearing the deadline for return. Can we return based on the customer’s verbal claim? If we don’t receive the WSUD, can we deny the claim?
Customer education helps prevent wire fraud
06/02/2019
What is the most common gap in banks’ wire transfer fraud prevention programs?
Annual U.S. wire transfer fraud losses
05/26/2019
What are the annual U.S. losses to wire transfer fraud?
Who does wire fraud target?
05/19/2019
Are most wire transfer frauds focused at businesses or consumers?
Wire transfer fraud insurance changes!
05/12/2019
Have there been any recent changes to wire transfer fraud insurance that we should be aware of?
State law and wire fraud liability
05/05/2019
If we are doing everything recommended by the FFIEC, is our bank safe from loss if a fraud does occur?
Wire contracts vs. bank actions
04/28/2019
Our wire transfer contract with business customers states that they are responsible for any fraud losses. Will this protect our bank?
Handling Benefit Payment Reclamations
04/14/2019
Our bank has received several benefit reclamations and demands for funds recently for the same customer. Do we handle them all the same way?