Best Practices to Reduce Identity and Payments Fraud in the Education Sector

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White Paper

Fraud schemes, including phishing attacks, ACH fraud, and other payment schemes, have cost schools and universities millions in losses. And with newer, more sophisticated fraud tactics being brought to bear, there’s more to come.

To validate bank account information prior to a transaction, and to reduce the potential for fraud, GIACT, a Refinitiv company — the leader in helping companies positively identify and authenticate customers — released a new white paper, Best Practices to Reduce Identity and Payments Fraud in the Education Sector, detailing the best practices in account validation.


What You’ll Learn

  • Analysis of the upcoming Nacha rule change regarding account validation for WEB debits;
  • Weaknesses of current commonly-used account validation methods; and
  • Best practices in account validation;

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