Combating Fraud with Electronic Returned Items
by CUAD Communications

According to a recent survey, annual ACH and debit card usage increased by 6% and 10% respectively. Consumers appreciate the convenience of conducting transactions electronically. This increased ease of access also exposes consumers and their financial institutions to elevated risk of account compromise and card fraud.

Among its provisions, Regulation E limits consumer liability for unauthorized transfers, and promulgates procedures for resolving errors alleged by consumers, including unauthorized and fraudulent ACH and card transactions. This session will review the specific error resolution requirements of Reg E, address procedural best practices, and provide tips on documenting your investigation. It will also detail how to review your error resolution process, including how audit procedures can mitigate risk for accountholders and your institution.

Highlights include:

  • Consumer liability under Regulation E
  • Clarification of which errors trigger the EFT error resolution process
  • Error resolution timing requirements
  • Process to follow when you’ve wrapped up your investigation
  • Recordkeeping requirements
  • Overview of error resolution audit procedures

Join Electronic Returned Items: Combating Fraud webinar on Wednesday, June 19 from 2:00 p.m. – 3:30 p.m. CT.




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