Real-time electronic payments fraud detection and prevention can yield benefits in faster, more convenient payment services for customers and members.

Financial institutions are fighting a growing threat of electronic payments fraud across a range of payment channels, from SWIFT, Fedwire, SEPA, and ACH to electronic funds transfers. Fraud techniques are many and varied, from malware and phishing, to batch file manipulation, account takeovers and internal fraud.

ACH fraud exposure in the United States is estimated to be more than $1.2 billion annually, based on a recent American Banking Association report. At the same time, wire transfer fraud is also a major concern for banks, with typical per-transaction losses in the U.S. estimated at more than $60,000 – 30 times that of a typical check fraud, according to the same American Bankers Association report.

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For more information on How Financial Institutions Can Achieve a Robust Defense Against Electronic Payment Fraud and other Fiserv solutions, call us at 800-872-7882 or contact us.

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