Virginia Beach, 01.31.24 | Nacha, a leading authority in the payment industry, hosted an enlightening webinar on December 13, 2023, titled “Closing in on Fraud: How to Protect Your Financial Transactions.” The event brought together thought leaders to delve into strategies and insights to fortify financial transactions, particularly emphasizing the real estate sector.
The webinar addressed the vulnerability of significant financial transactions in real estate deals where substantial sums change hands. Nacha’s mission was to empower participants with the knowledge and tools necessary to safeguard their financial endeavors.
Key takeaways from the webinar included:
● Common Payment Fraud Trends: Participants gained awareness of prevalent fraud trends, equipping them with the knowledge to recognize and combat emerging threats.
● Tips for Prevention: The webinar shared practical tips for preventing fraudsters from infiltrating systems, offering proactive measures to fortify financial processes.
● Robust Solutions Implementation: Industry experts explored the implementation of robust solutions to reduce fraud losses, emphasizing the importance of a comprehensive approach.
The webinar featured distinguished speakers who brought diverse perspectives to the discussion:
● Jordan Bennett (Nacha): Jordan set the stage by shedding light on the exponential growth of ACH credit push fraud, underlining its impact across various industries.
● Jim Weld (Rynoh): Rynoh provided a concise overview of their business, delving into the nuanced landscape of risk and fraud growth. Weld shared real world examples, honing in on wire and ACH fraud tactics, showcasing the need for proactive measures.
● Lawrence Pannell (Early Warning): Lawrence detailed Early Warning’s proactive approach to fraud prevention, specifically addressing the intricacies of wire fraud and account validation. He demonstrated how these solutions are versatile and applicable across diverse industries.
The discussion extended beyond identifying threats to proactive solutions, ensuring participants left the webinar with actionable strategies to fortify their financial transactions. The webinar will be available for replay, click here to view it.
About Rynoh
Founded in 2007, Rynoh is a patented, cloud-based financial management and fraud prevention system that has revolutionized escrow account management practices. Since it was introduced, Rynoh has identified and prevented escrow theft, wire and ACH fraud, stopped employee embezzlements, eliminated check fraud and disbursing errors, and has saved our clients millions of dollars. Rynoh seamlessly integrates with your accounting software programs, such as QuickBooks and Microsoft Dynamics Great Plains to provide the industry’s top financial security software solution. We offer continuous end-to-end accounting auditing, daily reconciliation, transaction monitoring, anti-fraud algorithms and built-in automated reporting.
Media Contact:
PJ Yates, Head of Marketing
pj.yates@rynoh.com