Protect Yourself From Financial Scams using Lyons Commercial Data
Protect Yourself From Financial Scams using Lyons Commercial Data Financial scams are becoming increasingly sophisticated. Two prominent scams involve the use of bogus routing numbers and sight drafts drawn on the U.S. Treasury. Scam #1: Fraudulent Use of Federal Reserve Routing Numbers Scammers deceive individuals into using Federal Reserve routing numbers for online payments. These […]
Preventing Payroll Fraud with Account Verification
Preventing Payroll Fraud with Account Verification Payroll fraud is a significant concern for businesses of all sizes, leading to financial losses, damaged employee trust, and potential legal consequences. Implementing a robust account verification solution is crucial in preventing payroll fraud and protecting your company and employees. In this blog post, we’ll explore how an account […]
Protecting Your Business from Accounts Payable and Invoice Fraud: The Importance of Account Verification
Protecting Your Business from Accounts Payable and Invoice Fraud: The Importance of Account Verification In today’s fast-paced business world, companies are increasingly vulnerable to various types of financial fraud, particularly in the areas of accounts payable and invoicing. These scams can have devastating effects on your business, customers, and reputation. Here we’ll explore common scams […]
Active vs. Passive Bank Account Verification
Active vs. Passive Bank Account Verification In today’s digital age, ensuring the accuracy and security of bank account information is paramount. As a business, you’re likely to encounter two primary methods of account verification: Active Account Verification and Passive Account Verification. Understanding the differences between these methods, along with their benefits and drawbacks, can help […]
Optimizing Bank Fraud Prevention at Scale
Optimizing Bank Fraud Prevention at Scale Banking fraud is a complex issue that has only been amplified in the digital era. As financial institutions strive to safeguard their operations, it’s critical that financial institutions take steps to ensure their fraud prevention framework is optimized to meet emerging threats. Common Types of Banking Fraud Banking fraud […]
Emerging Data Verification Trends 2024: What Businesses Need to Know
As we move further into the digital age, identity verification has become an increasingly critical concern for businesses. With advancements in technology and shifts in regulatory requirements, several trends are emerging that will shape the landscape of digital verification in 2024. In this post, we’ll explore five significant digital verification trends that every U.S.-based business […]
Enhancing Your Data: Lyons Commercial Data’s Routing Number Database
In the world of finance and payments, precision is paramount. To succeed, businesses need reliable resources that effortlessly integrate with their payment processing systems. Lyons Commercial Data’s Bank Routing Number Database stands out as a practical solution, available for download in various formats, ensuring compatibility with diverse payment systems. Key Features of Lyons Commercial […]
Unraveling the Surge in Fraudulent Payments: The Vital Role of Account Ownership Verification
Over the past few years, organizations have witnessed an alarming increase in fraudulent payment attempts. Criminals have become well-versed at exploiting vulnerabilities in payment systems. As the reliance on online transactions grows, so does the risk of falling victim to fraudulent activities. To safeguard against this, businesses must take proactive measures to protect their […]
Enhancing ACH Processing with Account Verification Solutions
In the fast-paced world of financial transactions, payment processors are at the forefront of ensuring accuracy, security, and efficiency. With the rise of digital payments, the need for robust verification solutions has never been more critical. Lyons Commercial Data, a leader in providing actionable intelligence for ACH and paper check transactions, offers a […]
Streamlining Account Verification & Compliance for Banks & Credit Unions
In an increasingly digital world, the banking and credit union industry faces the challenge of ensuring secure and efficient account verification, bank account ownership verification, and routing number verification. Lyons Commercial Data, a leading provider of data verification tools since 1989, offers integrated solutions to address these challenges, enhancing financial institutions’ due diligence and […]