Even with the declining volume of checks written, Check Fraud continues to plague businesses, consumers and financial institutions alike. Regardless of your role, Wespay Advisors can help. Our seasoned consultants will:
- Review your policies and procedures on check clearing and acceptance
- Provide you with industry practices to identify key aspects of check fraud
- Present recommendations for your internal processes
Upon completion, we will provide you with educational materials on check fraud to share with your staff and deliver a comprehensive report with proposed steps to augment your existing processes.
One of the newest areas of risk, and one fraudsters are taking advantage of, is Account Transfer Risk. Both Account to Account (A2A) and Person to Person (P2P) offerings continue to cause losses and an increase in claims for financial institutions. Given our level of expertise and close collaboration with other members burdened in efforts to manage this risk, Wespay Advisors can help you by:
- Evaluating your current risk profile for Account Transfers
- Identifying gaps in processes and policies which could be used to shore-up risk mitigation
- Suggest changes to funding processes, product offerings and risk exposure considerations
All documented gaps, with resolutions and recommendations will be provided to you in a thorough written report presented upon completion.
In addition to the consulting support and expertise you receive from our payments industry experts, some services also include Wespay Education Webcasts, relevant to your engagement, to ensure your staff is properly trained and remains well-informed.
