ACH Fraud

The threat of ACH Fraud continues to rise, so it’s more important than ever for financial institutions to be prepared. With the increase of online bill-pay and the processing of payroll checks, ACH transactions are an essential part of the banking world. However, it’s yet another tool for fraudsters to use against your customers. Banker’s Toolbox’s ACH Fraud Scenarios give you the ability to identify suspicious transactions from incoming and ACH Origination activity. We help you identify a broad range of activity including tax return fraud, social security fraud and account takeover.


Wire Fraud

Wire transfers continue to be some of the largest dollar transactions financial institutions process and because of their size, pose a serious threat of financial loss.

Banker’s Toolbox’s wire fraud detection scenarios help financial institutions combat that threat. Our wire fraud scenarios are multi-dimensional combining behavior AND typology. These scenarios are fully configurable and provide comprehensive coverage while reducing false positives.

You can capture any type of peer group or risky customer group and modify scenario parameters for specific customers. You can also set expiration dates for exemptions and scenarios, as well as schedule future reviews.


Debit Card Fraud

All debit card users fear becoming victims, and your customers expect protection when it comes to their everyday transactions. Your customers’ debit card information is at risk for all types of debit card fraud including data breaches and skimming. Banker’s Toolbox’s debit card fraud scenarios have the ability to detect known patterns of fraudulent behavior, including changes in usage frequencies and unusual spikes in activity compared to the account norm.

We help you identify fraud and protect your customers – as well as your reputation.


Check Fraud Prevention

Your financial institution processes countless checks, and unfortunately a number of them are bound to be fraudulent. Efficiently finding those “needles in the haystack” can have a significant impact on the bottom line and the success of your fraud detection and BSA compliance programs. With Check Fraud Prevention and True Checks you can easily identify suspicious checks while minimizing false positives to maximize the scope of review.

  • Identifies Fraudulent Check Writing Behavior “Our Four Perspectives Metrics” built into Fraud Manager automate the process of effectively identifying four key fraud factors: larger than normal dollar amounts; duplicate check numbers; check serial numbers out of range; and unusually high check volumes. The system automatically produces check fraud suspect reports on a daily basis against these four factors to help financial institutions quickly identify patterns and recognize potential instances of check fraud.
  • Workflow Management Fraud Manager reviews items in a financial institution’s item processing system, including items contained within deposits, inclearings files and POD files (if applicable.) The system runs check transactions through the model to identify fraud suspects and then display the suspects for your review.

Check Kiting

Although check volume has decreased over the years, check kiting still exists and these days the dollar value of the kiting schemes tends to be larger. Fraudulent activity costs the financial industry millions of dollars each year.

Check kiting involves individuals floating worthless checks between accounts established at two or more institutions. The underlying premise of check kiting is the customer’s ability to gain access to deposited funds before they are collected.

To minimize the risk of check kiting there are several internal controls that institutions can use to identify suspicious activity. One of these is to implement an online analysis system that can identify potential check kiting suspects and suspect transactions. Banker’s Toolbox’s affordable solution simplifies the identification of kiting suspects and provides quick review tools without cumbersome paper reports. Additionally, our solution provides a visual comparison view of deposits and withdrawals in order to assist you in the review of the account activity. All investigation notes can be logged electronically to each suspect account and maintained for future reference. This helps to eliminate the need to keep paper files on each account.

Advanced detection allows targeted kiting detection to avoid unnecessary false positives, keeping you vigilant and efficient.


Enterprise Fraud Case Management

BAM+’s Enterprise Fraud contains a case management system, different workflows and several sets of fraud scenarios. The case management system allows you to track and record fraud cases for your entire financial institution in one location, as well as providing reporting for different types of fraud. Manage investigations on any type of fraud that may occur throughout your institution, regardless of type or source. BAM+ will allow you to aggregate and report fraud on an enterprise level giving you a bird’s-eye view of what’s happening at your institution.