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Payment fraud prevention in North America

The North American payment systems market is very different from other countries around the world due to the continuing reliance on cheques and the late development of ACHs. This has forced the banks to develop a comprehensive range of fraud prevention systems and services for cheques and ACHs. The U.S. Bank’s range of disbursement fraud protection products and services illustrates the main types of fraud occurring:

  • Positive Pay for cheque fraud prevention: Corporate clients transmit an electronic file of the cheques they have issued to U.S. Bank for comparison with checks presented for payment. U.S. Bank alerts the client if there are any non-matching checks for them to make the payment decision. Clients can view images of non-matching checks, and send U.S. Bank their payment decisions via the Internet.
  • Receive comprehensive fraud protection for checks presented at teller windows and through our check collection network. Clients can also use the payee name verification.
  • Clients can choose their review method - an automated information reporting service, fax or email report.
  • Payee Positive Pay: Detect and prevent altered payee name fraud on deposited checks, as well as checks presented at the teller line. This service helps clients detect fraud by identifying items with non-matching payee names. U.S. Bank offer two payee verification service options: Teller Payee Positive Pay and Payee Positive Pay.
  • Software for Positive Pay: For clients who are unable to create a checks-issued file, U.S. Bank provides treasury software, combined with their Positive Pay service. This software is available on a variety of common computer platforms..
  • Reverse Positive Pay provides clients with an electronic file or report of their paid items daily for comparison with they checks-issued files, allowing clients time to make return decisions. View images of checks and send U.S. Bank your payment decisions via electronic banking.
  • ACH Filter & Block Services: Controls which ACH transactions are post to client’s account? These U.S. Bank services will give you control and help protect against unauthorized or erroneous ACH entries. .
  • ACH Filter Service: Set various criteria to authorize some ACH debits and/or credits to post to your account while excluding others.
  • ACH Block Service: Blocks all ACH debits, credits or both kinds of transactions from posting to client’s account.
  • Business eCheck Block: Blocks all, or any combination of electronic check - ARC, POP, RCK, WEB and TEL - payment types from becoming an ACH debit and posting to client’s account.
  • Check Filter: Allows clients to prevent all check transactions from posting to their account, or only those above a pre-specified dollar amount.

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