Risk Management and Fraud Prevention
Fraud management and mitigation for your business
UMB provides sophisticated products to help protect your accounts from fraudulent activity through transaction review and validation, filtering, blocking, exceptions and approval protocols.
ACH block/filter services
With the steady increase of ACH activity, the risk of unauthorized ACH transactions to corporate accounts has also increased. UMB’s ACH block/filter service helps ensure that only authorized electronic transactions will post to your account.
Positive pay
Positive pay is a fraud detection service that reviews check transactions to help ensure authenticity and accuracy. This feature helps identify check information that doesn’t match the issue information, marking those payments as exception to be reviewed and authorized.
Integrated payables
UMB Integrated Payables can help you significantly reduce the risk of payment fraud that results from account takeover, account validation, business email compromise and other schemes.
Paper debit block
Paper debit block is a simple fraud prevention tool that prohibits the posting of debits to your account. Blocking debit transactions on a depository account helps reduce fraud and minimize risk by only allowing deposits and credits to post to your account.
Masked account numbers
Universal Payment Identification Codes (UPICs) are unique account identifiers that look and act like a real account number on ACH payment transactions. These codes mask your business bank account numbers on invoices or websites, which can reduce your fraud risk.
Electronic payments protection
To ensure your transaction processing is as secure as possible and to protect your organization against fraud, UMB requires its customers to implement risk mitigation strategies of dual control and enhanced login security through use of a security token.
Prepare for and prevent business fraud
Implement tools and systems that can help your company manage fraud risk.
UMB offers three positive pay options so you can select the right solution for your business
Positive pay
Positive pay is a fraud detection service that reviews check transactions to help ensure authenticity and accuracy. This feature helps identify check information that doesn’t match the issue information, marking those payments as exception to be reviewed and authorized.
Payee positive pay
Payee positive pay is an enhancement to our standard positive pay service that validates the payee name on presented items when the payee name is included in the check issue file. This added layer of detail can also help deter fraud and manage your check processing and authentication.
Reverse positive pay
Reverse positive pay is an option for businesses that do not have high check transaction volume, cannot provide check issue files, or that prefer more control over their check reviews. For this service, reviews of check issues are completed by your company and you notify UMB of any exceptions.
Manage your business finances online
We have the tools and systems you need to effectively and efficiently manage your business finances—from anywhere, any time.
UMB fraud prevention resource center
Businesses today are being targeted by sophisticated fraudsters often resulting in financial loss. Gain knowledge, and better understand ways to improve fraud detection and prevention, by visiting our Fraud Prevention Resource Center.
Understanding business fraud
Payments fraud can be categorized into two sectors, internal and external. While external fraud such as social engineering and email account compromise is covered widely in the media, internal fraud including asset misappropriation and insider fraud is rarely acknowledged.
