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These are unprecedented times — where the COVID-19 pandemic has shuttered stores and brought tens of millions of people (in the U.S. alone) indoors, where “home office” has taken on new meaning and where online commerce is now the way we buy.
Large swaths of the global economy have ground to a halt as governments scramble to stop the spread of COVID-19. In the U.S. alone, nearly 100 million people (and growing) have been directed to stay at home and practice social
As travel restrictions tighten, and social distancing in the coming weeks becomes the new normal, financial interactions – from shopping to banking – will increasingly move online. The rise in purchase volume that will result will not only test supply chains, but also the ability of individuals and businesses to avoid fraud traps.
GIACT’s new report, Securing Faster Payments: Modernizing Account Validation, explores the strengths and weaknesses of the most commonly used account validation solutions available and how payment originators looking to bolster their validation practices.
Last week, the U.S. subsidiary of Japan’s largest financial media organization, Nikkei, made headlines for the reason that no firm ever wants: The company was the victim of financial fraud to the tune of $29 million via a wire transfer gone bad.
Citi’s Treasury and Trade Solutions (TTS) has launched Citi® Verify, a new identity and account verification solution that helps clients streamline customer on-boarding, reduce the risk of improper payments, and drive operational efficiencies.
GIACT Systems®, the leader in helping companies positively identify and authenticate customers, today announced a new white paper, Securing Faster Payments: Modernizing Account Validation, detailing account validation best practices related to ACH payments and NACHA’s upcoming change to its rule requiring that WEB debits be screened for fraud.
GIACT, a Refinitiv company, today announced that it has added a global consumer and business identity verification solution, gIDENTIFY® Global, to its EPIC Platform. gIDENTIFY Global represents a significant advancement in global identity verification, allowing U.S. organizations to validate non-U.S. persons across 38 countries and businesses across 11 countries, respectively.