B2B Payments in the U.S.: Check Fraud, Risk Prevention, & Compliance Issues

Duration: 60 Minutes
In the course of this training program, attendees will participate in informative discussions and learn key aspects of the role and key players involved in B2B payments. The U.S. Business-to-Business (B2B) payments industry is currently facing an identity crisis. The antiquated infrastructures of Banking Past are becoming increasingly unreliable. For the old systems to continue functioning, they usually require repair or replacements. Performing these facelifts and/or substitutions is a task that is as daunting as it is expensive it is unsurprising that institutions are reluctant to launch a project to completely overhaul its current enterprise payments network.
B2B Payments in the U.S
Instructor: Ray Graber
Product ID: 505128
Further, in light of new and innovative technological developments, payment providers, banks, and networks are eagerly venturing further into new artificial intelligence frontiers. Meanwhile, practitioners are nervously fretting over security concerns and consumer protection.

Nevertheless, regulatory authorities are applying enhanced pressure to the industry to adhere to increasingly outdated payments requirements and compliance mandates. With multiple-agency oversight, regulatory imposing complex demands, banks and credit unions are finding it difficult to manage and fulfill the complex, often-conflicting, competing demands of regulators.

Objectives of the Presentation
  • Payment types that are declining and those that are growing: ACH, CHIPS, and Fedwire
  • B2B check fraud and controls to put in place
  • Key aspects of the role and key players involved B2B payments
  • Regulatory agencies and their roles
  • Role of the Compliance Officer
  • Movement from paper to electronic and the issues that arise
  • Plans and polices to combat payment theft and related fraud
  • Red flags to watch for and prevention methods
  • Best practices for GRC
Why Should you Attend
The chaotic, aggregate effects of an evolving, globalized world on the B2B payments industry illuminate a bright target for opportunistic fraudsters. Although the roles of Directors, Compliance Officers, High-Level Executives, and Managers must necessarily change in this new environment, community banks and credit unions cannot bury their heads in the sand. They must be prepared for fraudulent activity, which is declining in certain areas of banking but increasing in others. Despite the fact that ACH, CHIPS, and Fedwire payments are replacing B2B checks, compliance requirements and fraudulent practices exist in all types of payment systems.

Who will Benefit
  • Payments professionals
  • Deposit operations managers
  • Cash management professionals
  • Corporate finance officers
  • Regulatory compliance associates and managers
  • Bank Compliance Officer
  • Risk/Compliance Officer
Topic Background
The role of the compliance officer is changing because banks are struggling to serve many masters; some with like goals and others with contradictory ones. Regulators, corporate clients, board of directors, and shareholders are pulling in their own directions. Fraud in some payment types are declining while others are picking up that slack. ACH, CHIPS, and Fedwire payments are taking the place of B2B checks but there exists compliance and fraud issues in all of them. Businesses of all sizes are trying to send payments in the most cost-effective way and not necessarily through the bank- established channels. Corporate financial professionals want a conversion from paper to electronic payments, but only if they can get the payment information with the money transfer.
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Recorded Session for one participant
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Recorded Session - How it works
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Ray Graber has a deep and thorough understanding of banking, technology, and finance. His business experience includes banking technology research and consulting at TowerGroup, best practices Internet security, policies, and procedures at FleetBoston Financial, wire transfer operations and product launches at Citibank and BankBoston, and treasury operations for a $325 million public company.

Ray was an adjunct professor at the Carroll School of Management at Boston College where he taught three graduate-level courses: E-Banking, theMBA Leadership Workshop, and Corporate Finance. Previously, he taught the Financial Management of Commercial Banks in the Boston College Carroll School of Management Masters of Finance Program and Working Capital Management and Cash Management at the Bentley College Graduate Business Program.

Ray holds a Bachelor of Arts degree in Mathematics and an MBA in Finance and MIS, both from Boston College.
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