FRAUD MITIGATION IN 2023
To watch the full webinar replay, click the play button on the image below.
To download the full presentation deck, click the “View Presentation” button.
Please enter your email address, title and company to view the replay. All fields are required.
FAQs From the Webinar
What is Positive Pay and how does it protect against check fraud?
Cybercrime, identity theft and fraudulent check writing cost companies billions of dollars every year. Our Positive Pay service puts safeguards in place to help ensure that only authorized payments are made from your account. When you enter issued check numbers and amounts into our portal, accessOPTIMA®, we’ll verify paid checks, presenting exceptions to you for timely and efficient review online.
Within Positive Pay, we offer additional protections to mitigate check fraud:
- Payee Positive Pay ensures that when the check is presented, everything must match: The person or entity it’s made out to, the dollar amount and the issue date. If any of that information is not on the file that you gave to the bank, we will not pay the check.
- Reverse Positive Pay simplifies reconciliation by automatically sending you a daily list of checks presented for payments. You can identify any checks you don’t wish to pay and communicate your decision to a Client Services representative.
- Dual Signature Review verifies that that each payment is proper and reasonable.
What is Real-Time Payments (RTP®)?
Real-time payments, or RTP, is a modern payment method – distinct from wires or ACH – in which transactions between bank accounts are initiated, cleared and settled nearly instantly. RTP is a great option because of its visibility and speed: You could be on a call with a trading partner, initiate a payment, and have them confirm that it went through – all in the same conversation. RTP is also credit push only, which vastly reduces instances of fraud as there’s no debit function, unlike ACH.
RTP can currently handle transactions up to $1 million and we expect that limit to be increased in the future.
How can requests be verified when changing vendor ACH information?
Any time you receive communication to change payment instructions, you should contact the payee via a separate channel – such as a known and trusted phone number – to verify the request.
What is ACHieve Access and how does it work?
ACHieve Access® is an online system which provides greater control over ACH transactions and safeguards your accounts against fraud.
When you designate which incoming ACH debits you’re expecting, we authorize the debits based on the specific information you’ve provided.
Importantly, ACHieve Access® allows you to block unauthorized debits. If we identify a debit that you did not specifically authorize, we can present that to you as suspect. Whether it is indeed fraudulent payment or simply a legitimate one from a new trading partner, you can accept or reject the payment immediately. You can also set up separate amount and transaction limits for each authorized originator in your organization.
This presentation, and any materials that accompany it (referred to collectively as this “Presentation”) has been prepared by Citizens Financial Group, Inc. (NYSE: CFG)(and its subsidiaries, including Citizens Bank, N.A., Citizens Capital Markets, Inc., and/or JMP Securities LLC (collectively herein, “Citizens”)), and is exclusively for the benefit and internal use of the client to whom it is directly addressed and delivered (“Client”) in order to assist the Client in evaluating, on a preliminary basis, the feasibility of a possible transaction. It has been prepared for discussion and information purposes only.
The information contained in this Presentation is confidential and proprietary to Citizens and should not be distributed, directly or indirectly, to any other party without the written consent of Citizens. The information in this Presentation may be based upon management forecasts and reflects prevailing conditions and our views as of this date, all of which are subject to change without notice. In the preparation of this Presentation, Citizens has relied upon and assumed, without independent verification, the accuracy and completeness of information available from public sources or which was provided to us by or on behalf of the Client. We make no representation or warranty (express or implied) of any nature, nor do we accept any responsibility or liability of any kind, with respect to the accuracy or completeness of the information in this Presentation. Changes to assumptions made in the preparation of this Presentation may have a material impact on results. Citizens does not and shall not undertake a duty or responsibility to update these materials or to notify you when or whether the analysis has changed.
This Presentation is not intended as an offer or the solicitation of an offer to buy or sell any securities as defined under U.S. securities laws. This Presentation is not intended to, and does not, constitute a valuation of the Client, a fairness opinion or a recommendation to the Client as to how its board of directors or shareholders should vote or act with respect to any strategic alternatives or transactions.
This Presentation does not contain advice in any respect as to the legal, regulatory, tax or accounting consequences of any potential strategic alternatives or transactions on the Client or the Client’s shareholders, and it is the responsibility of such parties to obtain advice on such matters from other qualified professionals.
Any analyses of any potential strategic alternatives or transactions that may be available to the Client reflected in this Presentation are preliminary and are subject to the assumptions and qualifications set forth herein, as well as further review and modification by Citizens. Any valuation ranges or other estimates are solely illustrative and do not purport to be valuation advice and should not be relied upon as such. Any such advice would only be provided pursuant to an engagement letter or other definitive written agreement between the Client and Citizens.
Citizens Capital Markets, Inc. and JMP Securities LLC (as full-service securities firms) are engaged in securities trading and brokerage activities, and in providing investment banking, asset management, financing and financial advisory services and other commercial and investment banking products and services to a wide range of entities and individuals. In the ordinary course of the trading, brokerage, asset management, commercial banking and financing activities of Citizens, Citizens may at any time: (i) effect transactions for its own account or the accounts of its customers and hold long or short positions in debt or equity securities or other financial instruments (or related derivative instruments) of the Client or other parties which may be the subject of any engagement or transaction involving the Client; (ii) hold discussions with and provide information to clients, potential clients and other entities regarding various market and strategic matters (including potential strategic alternatives), which entities may include potential counterparties to a transaction or strategic alternatives involving the Client, and which matters may have included a possible transaction with the Client; and/or (iii) perform various investment banking, financial advisory, commercial banking and other services for clients and customers with pre-existing Citizens’ relationships or other clients and customers (including, but not limited to, potential counterparties to any potential transaction) who may have conflicting interests with respect to the Client. Citizens shall have no obligation to disclose such information to the Client, or to use such information in connection with any contemplated transaction herein.
The Client may be referred by an employee of Citizens Bank, N.A. to Citizens Capital Markets, Inc. and/or to JMP Securities LLC, so that the Client may receive securities products or transactional services (“Securities”) offered by either or both broker-dealers. Employees of either or both broker-dealers may also refer the Client to Citizens Bank, N.A. for the provision of commercial banking services. The Client should note that (i) the Securities are offered by and/or through such broker-dealers, and not Citizens Bank, N.A.; (ii) Citizens Capital Markets, Inc. and JMP Securities LLC are affiliated with Citizens Bank, N.A., and all three are separate and distinct legal and corporate entities; (iii) the Securities are not bank deposits or other obligations of, or guaranteed by, Citizens Bank, N.A.; (iv) the Securities are not insured by the Federal Deposit Insurance Corporation or any other governmental agency; and (v) the Securities may be subject to investment risks, including possible loss of the principal amount invested by the Client.
“Citizens Capital Markets”, “JMP Securities”, “DH Capital” and “Trinity Capital” are trade names under which corporate and investment banking products and services of Citizens Financial Group, Inc., and its subsidiaries, are marketed. The licensed Securities representatives of Citizens Capital Markets, Inc. and /or JMP Securities LLC may also be employees of Citizens Bank, N.A. The daisy device logo is a trademark of The Royal Bank of Scotland Group plc used under license by Citizens Financial Group, Inc., and its wholly owned subsidiaries.
Independence of Research: Citizens prohibits its employees from directly or indirectly offering a favorable research rating or a specific price target, or offering to change a rating or price target, as consideration or an inducement for the receipt of business or for compensation.
©2025 Citizens Financial Group, Inc. All rights reserved. Banking products and services are offered by Citizens Bank, N.A. Member FDIC. Securities products and services are offered to institutional clients through Citizens JMP Securities, LLC, member FINRA, SIPC. Please click here for CJMPS disclosures.
