American CBA LLC

Event Description

External ACH transfers provide customers with a convenient way to move funds between accounts at different financial institutions—but that convenience can also create significant fraud exposure. Weak authentication, insufficient transaction limits, inadequate account ownership verification, and delayed monitoring can allow criminals to exploit external transfer services and move funds before suspicious activity is detected.

In this one-hour webinar, attendees will learn how external ACH transfer fraud occurs, the tactics fraudsters commonly use, and where breakdowns most often occur in the account-opening, enrollment, authentication, transaction, and monitoring processes. The session will also examine the essential elements of a strong internal control environment, including layered security, risk-based limits, verification procedures, alert management, escalation protocols, and cross-functional accountability.

Using practical examples and lessons learned from significant fraud losses, this session will help financial institutions identify control weaknesses before they become costly events. Attendees will leave with actionable strategies for strengthening external transfer programs, improving fraud detection, reducing response times, and creating a more coordinated approach among Operations, Fraud, Information Security, Compliance, Risk Management, and frontline teams.

Key Takeaways:

• Recognize common external ACH transfer fraud schemes, warning signs, and account takeover tactics.

• Identify control gaps involving enrollment, authentication, account ownership verification, limits, and transaction approval.

• Build a layered internal control framework for preventing, detecting, and responding to suspicious external transfers.

• Use monitoring tools, alerts, velocity controls, device intelligence, and escalation procedures more effectively.

• Apply lessons learned from fraud cases to strengthen policies, procedures, employee training, and loss-prevention practices.