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GIACT helps companies, from financial to insurance, verify valued customers and offer customer intelligence for complete payment confidence. The leader in providing real-time data to help mitigate payment risk and fraud, our OFAC screening, ID, mobile and account verification/authentication solutions enable you to focus on customer experience.

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Securing Faster Payments: Modernizing Account Validation

Securing Faster Payments: Modernizing Account Validation

In 2018 alone, ACH network volume reached nearly 23 billion payments –70 payments per person in the U.S. In the 12 months ending February 2019, payment volume across the ACH network increased 7.2%, reaching over 100 million ACH payments per banking day, a first for the ACH network. Account validation capabilities have not kept pace.

Streamlining KYC: Best Practices in the Collection and Processing of Beneficial Owners

Streamlining KYC: Best Practices in the Collection and Processing of Beneficial Owners

FinCEN put into effect the most stringent KYC regulations to date requiring FIs to comply with new Customer Due Diligence standards on beneficial ownership, along with multiple FAQs on ID collection and verification. Still, FIs see the rule as opaque and are finding that the collection and processing of beneficial ownership information costly.

The Evolution of New Account Fraud

The Evolution of New Account Fraud

According to a newly released white paper, commissioned by GIACT, and produced by Javelin Strategy & Research, new account fraud (NAF) is evolving. Fraudsters have piled into the digital channel and, with years of experience under their belts, they are diversifying their targets and tactics.

The Hidden Costs of Synthetic Identity Fraud

The Hidden Costs of Synthetic Identity Fraud

Synthetic identity fraud (SIF) schemes create identities out of real and fake personally identifiable information. These schemes are difficult to detect as they combine valid information with fictitious e-mail and social media accounts. For businesses relying on static PII as a fraud stopgap, SIF accounts is hard to difficult to interdict.

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