Payment and Fraud Risk Assessment Services

Gain better oversight and control of your payment flows and fraud risk

Payment fraud threats have become a major concern for organizations globally, with more than 80% of financial professionals reporting incidents of attempted fraud*. Payment fraud trends globally reflect a continued and sustained growth over the past 4 years.

Organizations are more aware of increasing threats and many have actively implemented control measures. Unfortunately, this added vigilance is not always enough. New technologies are streamlining electronic payments, but perpetrators are using those same solutions to attack payment processes and platforms. The tactics used by fraudsters evolve and increase in sophistication continually, attempted attacks are becoming harder to identify resulting in greater success infiltrating organizational payment flows.

As well as the obvious financial impact, fraudulent incidents may subject firms to additional regulatory scrutiny, privacy concerns, reputational damage, litigation and loss of clients/investors. In addition, post-breach remediation costs can be extremely high. It has become essential that firms are proactive in predicting and assessing their exposure to these threats in order to mitigate the likelihood and impact of a payment fraud incident.

*2019 AFP Payments Fraud and Control Survey

CONNECT WITH US


CONNECT WITH US


Our solutions

ACA Aponix’s (ACA) Payment and Fraud Risk Assessment (PFRA) helps your firm better understand payment flow and fraud risk mitigation opportunities. Our solution provides end-to-end policy-aligned reviews of all your firm’s cash movements to identify potential fraud risk throughout the payment lifecycle. We perform evidence-based procedure reviews across your firm to help mitigate risks during subscription, drawdown, redemptions, staff, and vendor payments. Our tailored service offering is customized for each payment type to provide an accurate assessment of possible risks.

Assessments also include identity and access management, payment limits and cash control best practices for your electronic banking channels. ACA’s team of highly experienced subject matter experts continuously monitor various sources to identify new fraud trends before they impact your firm. Our team includes specialists in payment fraud, cybersecurity, and technology risk from various industries, including investment management, banking, and healthcare.

Payment Flow Review

Our team reviews supplied documentation, performing an 
on-site evidence-based assessment with employee interviews and  process walk-though.

Risk Analysis

Our team analyzes review responses, evidence, and audits to identify potential fraud risks

Reporting

You can track progress of process enhancements and view findings in our management software platform.

1 of
Solution Spotlight

Aponix Protect™ comprehensive cybersecurity and technology risk solution

Aponix Protect helps firms address evolving cyber risks and threats to ensure that their cybersecurity needs are covered year-round. This solution is available in three tiers, each one designed to provide firms with a flexible, robust, responsive, and cost-effective cybersecurity program.

Latest insights

cyber code

The Schrems II Decision: What Now?

U.S. companies are finding themselves on uncertain terrain as they struggle to understand the implications of the recent EU decision to strike down the Privacy Shield agreement Get ACA's guidance on what steps to take to reduce risk in data transfers.

Article
  • Cybersecurity
  • Privacy
Aponix Protect 1 - Blog.png

Introducing the Aponix Protect Cybersecurity Program

We’re excited to announce our new complete cybersecurity program, Aponix Protect, a comprehensive cybersecurity and technology solution offering provides firms with a risk management framework to boost cyber and operational resilience.

ComplianceAlpha Update
  • Cybersecurity
abstract image with a lock and shield

Treasury Department Issues Advisories Related to Ransomware

On October 1, the U.S. Treasury’s FinCEN and OFAC issued advisories warning of the growing threat of ransomware to U.S. business and individuals, describing recent trends in that area of digital crime, and pointing to the needs for proper safeguards and reporting, especially in light of potential violations of sanctions rulings.

Cyber Alert
  • Cybersecurity
cyber week image

October is Cybersecurity Awareness Month!

Kick off Cybersecurity Awareness month by joining us for two days dedicated to the cybersecurity challenges and issues faced by financial services firms. ACA's first-ever Cyber Week on October 6-7 is free to attend.

Article
  • Cybersecurity
telecom case study

Case Study: Portfolio Risk Management for Telecom

Read how ACA Aponix delivered a comprehensive risk management solution to address both public and private networks for large telecom.

Case Study
  • Cybersecurity
  • Portfolio Company Risk Management
ACA Threat Intelligence Alert Blog Image

SEC OCIE Warns of Increased Risk of Credential Stuffing

The SEC OCIE has issued an alert warning of an increase in the use of the “credential stuffing” tactic in attacks against SEC registrants, including broker-dealers, investment advisers, and investment companies. Credential stuffing can significantly increase financial, regulatory, legal, and reputational risk to firms and OCIE has made recommendations for protecting client accounts.

Cyber Alert
  • Cybersecurity
  • Phishing

News

ACA Mirabella Celebrates Ninth Consecutive Year of Success at With Intelligence HFM European Services Awards

We are proud to announce we have secured victory in three prestigious categories at the With Intelligence HFM European Services Awards.

ACA Announces Expansion of the Executive Leadership Team with Key Appointments

ACA Group announces the addition of two distinguished professionals to its executive leadership team, Jaime Klein as Chief Human Resources Officer and Alex Fischer as General Counsel.

Highlights From the 2024 ACA Conference

As the curtains close on the 2024 ACA Conference, the echoes of transformative dialogue and insightful revelations resonate, shaping the trajectory of GRC in financial services.

Upcoming events

Wealth Management EDGE

Join the ACA Wealth and ACA Foreside teams in Hollywood, FL at the Wealth Management EDGE Conference.

Conference

2024 FINRA Annual Conference

Meet-up with ACA's team at the FINRA Annual Conference, FINRA’s premier event which provides the opportunity for practitioners, peers and regulators to exchange ideas on today’s most timely compliance and regulatory topics.

Conference