Laru Introduces ACH Vision at NACHA Payments 2010 to solve man in the
browser fraud attacks
Laru Corporation announced that it will showcase its latest product, ACH
Vision, at NACHAâs Payments 2010 conference in Seattle.
Laru offers real time ACH monitoring for ODFIs to solve
ACH Vision will enable ODFIs and non-bank third party senders (TPS) to
stop fraudulent and erroneous ACH transactions from entering the ACH
network. ODFIs and TPS will be able to define custom rules using ACH
Visionâs versatile rule kit or accept out-of-the-box defaults to
quarantine potentially problematic transactions, such as fraudulent
transactions, restricted SEC codes, irregularly scheduled payments or
amounts, duplicate files etc.
By leveraging the knowledge from past transactions and application of
Laruâs patent pending business intelligence methodology, ACH Vision will
automatically alert the ODFI to possible man-in-the-browser and
corporate account take over schemes by comparing all new ACH payments to
previously processed transactions.
According to Elliott McEntee, former NACHA CEO and Laru consultant, âman
in the browser and corporate computer takeover are some of the biggest
problems facing ACH participants.â These problems have resulted in
significant losses to banks and their customers and expensive litigation.
The Bancorp Bank of Wilmington, DE is currently testing the beta version
of Vision. Bancorp’s SVP, Terrence Crowley, said âLaruâs Vision product
is the most comprehensive ACH risk management tool that we have seen in
âHaving mastered the ACH risk assessment, measurement and management
problem, we have now shifted our focus to control of problem
transactions, including on-line fraud scenarios,â said Rajiv Donde,
President at Laru. âWe at Laru believe financial institutions can make
better use of limit models and calendaring rules to cap their risk
exposure, and have included these capabilities in the product.â ACH
Vision combined with ACH Clarity is the complete risk management
solution for financial institutions today.
ACH Vision works seamlessly with Laruâs other products, ACH Clarity and
ACH FileFox and fits in line with the financial institutionâs ACH
processing pipeline; hence no complex system integration is required.
About Laru Corporation
Laru Corporation, headquartered in Folsom, CA, develops and provides ACH
risk management and compliance applications to companies throughout the
U.S. ACH originators and receivers use the companyâs products to
identify, resolve, and prevent ACH fraud and network violations. Laruâs
flagship product, ACH ClarityTM, monitors and manages the risks of
originating, receiving and processing ACH transactions, and provides an
independent ACH audit platform to meet the requirements of OCC Bulletin
2006-39, while ACH Vision prevents problem transactions from entering
the ACH network. For more information, please call (888) 527-8007 or
visit the companyâs Website at www.larucorp.com.