Automated ACH fraud monitoring is critical in business as overall ACH transaction volumes grow year-over-year. Businesses, as well as their customers, need to be thoughtful in protecting themselves from the risk posed by fraudsters.  

This type of fraud, ACH fraud, can be defined as any unauthorized funds transfer that occurs from a bank account, and it is fairly simple to execute.

So how can your business protect against ACH fraud? Detection is the key with ACH fraud monitoring. If you can’t monitor and detect the fraud, then you can’t prevent fraudsters from hindering your business. Failing to appropriately monitor your ACH transaction activity can be costly, but the challenge of asking a single analyst to stare at a computer screen all day and detect fraud activity based on a list of debits and credits alone is inefficient.

Fortunately, there is technology out there that can automate the process, so implementing automated ACH fraud monitoring is more doable than it may have been in the past.

How to implement automated ACH Fraud Monitoring

This first step in automating ACH fraud monitoring is ensuring that you’re partnered with an ACH payments partner that serves your best interests. Dwolla is a prime example of this.

As an on-ramp to the ACH network Dwolla allows businesses and developers to integrate a powerful bank transfer infrastructure into their native platforms. Within your branded application, you can use Dwolla to build bank transfers, automate backend operations, and manage customers.

Once you choose an ACH payments partner that best suits your business, you’ll want to ensure they have tools in place to help empower you to monitor and manage ACH fraud detection.

As companies have grown with their Dwolla integrations, they end up looking for the right solution to manage ACH risk and empower their team of fraud analysts to make the best possible decisions. To meet this need, Dwolla offers real-time ACH risk management through Sift Science.

Using large-scale machine learning with unparalleled accuracy, Sift Science leverages a global network of fraud data to predict fraudulent behavior in real time. As Dwolla partners grow and scale their integration, they can leverage Sift Science’s software to detect and monitor suspicious activity, provide risk scoring, and better inform their analysts.

The benefits to businesses with this automated ACH fraud monitoring include:

At Dwolla, we’ve created a guide for setting up a Sift Science Integration within your Dashboard.

To learn more about how Dwolla + Sift can empower you to implement real-time automated ACH fraud monitoring alongside your ACH payments integration, reach out now.

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Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in our network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.