False Pretenses: Why a Verified Bank Account May Not Be Verified Payment
October 13th at 12:30 PM ET
Speakers:
Amy Morris
Senior Director ACH Network Rules at Nacha
Eli Ben Nun
CTO and Co-founder at Trustmi
The documentation checks out. The bank account validates, and the request moves through the expected approvals. And the payment is still fraudulent.
That’s the challenge behind false pretenses fraud: attackers don’t always need to defeat your controls. Increasingly, they can present those controls with exactly what they expect to see.
Join Nacha expert Amy Morris and Trustmi CTO Eli Ben Nun as they break down how these attacks are succeeding today, what the new Nacha requirements mean for ACH fraud controls, and where organizations need to look when the individual checks all pass.
You'll learn:
- How false pretenses attacks can pass established ACH controls
- What bank validation can confirm, and what it leaves unanswered
- Why valid accounts and documents may not mean a valid payment
- What a risk-based approach needs to evaluate beyond individual checks
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