Investigating Unauthorized EFT Activity


Presented by: Raylene Pirnie

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Claims of unauthorized activity on consumer accounts does not have to mean a loss to the bank. The bank is obligated under Regulation E to investigate and resolve the claim, but a lack of network return options doesn't have to mean a write-off.

Although Reg E may be the regulatory force behind your investigations, making those investigations effective and efficient can minimize losses both for your customer and, equally important, for your bank. Using real cases, we'll explore investigation strategies that may help your institution reduce losses. Cases include customers linking their accounts to external third-parties, the ODFI's actual liability for unauthorized ACH debits (hint: It's NOT 60 days!), liability for card and ACH transactions for timely notice vs. timely notice not given, kids hijacking moms card to pay for video games, "free" trial offers, and more. If you want your investigations of unauthorized EFTs to be more effective, this is the presentation for you.

Learning level: Intermediate to advanced

Learning Objectives
  • Compare Regulation E and payment rules
  • Document investigation strategies and tips
  • Define actions using case studies
  • Summarize obligations and liabilities
Who Should Attend: This informative session is designed for anyone in the bank responsible for managing payments risk and investigations, including Operations, Operations Managers, Card Dept., Risk Manager, Compliance, Compliance Officer, Auditors, Security / Investigations, Electronic Banking, Branch Managers, and Trainers.

About the Speaker: Rayleen M Pirnie, AAP, CERP is the founder and owner of RP Payments Risk Consulting Services, LLC. based in Missouri. She is a nationally recognized payments risk and fraud expert who offers specialized consulting services, procedural and risk management reviews, and payments education. Rayleen's specialized skill is delving into the world beyond the payment rules; areas where organizations often find themselves in positions of liability or loss with little to no clear guidance. Her programs help organizations identify and mitigate risk and exposure.

She is an Accredited ACH Professional (AAP) and a Certified Enterprise Risk Professional (CERP) who has worked with all payment systems for over 20 years. Rayleen also holds a Bachelor of Science in Criminal Justice Administration.

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  • Model: cd_eft1118
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Wednesday 19 September, 2018.

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