Reduce the Risk of Payment Fraud
As a business owner, you want greater visibility into the transactions moving through your accounts. West Bank's Fraud Monitoring service combines Positive Pay with Payee Verification and ACH Fraud Filter to help you identify suspicious activity, reduce fraud risk, and provide greater control over account transactions. Fraud Monitoring helps you detect potentially counterfeit and unauthorized activity early and make informed decisions before items are processed.
To learn more about Fraud Monitoring, contact Treasury Management Support at 515-222-2350 or contact our team online.
How Fraud Monitoring Works
When your checks are presented for payment, Positive Pay matches key details, including the check number and dollar amount, to your authorized check issue file. If something doesn’t match, the item is flagged as an exception, and you’re notified to review it. Payee Verification enhances that protection by validating the payee name, helping you identify potentially fraudulent checks before they clear your account.
Fraud Monitoring also includes ACH Fraud Filter, which reviews ACH transactions against rules you establish. If a transaction does not meet your criteria, it is flagged for your review, and you’re notified.
Checks
- Altered check amounts
- Changed payee names
- Counterfeit checks
- Duplicate checks
- Stolen checks
- Unauthorized ACH debits
- Transactions that exceed established limits
