Fraud prevention.LaSalle Bank LaSalle Bank Corporation is the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. With $116 billion in assets, it is headquartered at 135 South LaSalle Street in Chicago, Illinois. has brought out a new fraud-fighting weapon it calls ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to Control. This service allows companies to stop unauthorized automated clearing house See ACH. (ACH) debits before they hit their accounts, helping to protect them from fraudulent The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. transactions Billions of dollars are lost each year to fraudulent checks and unauthorized electronic payments in the U.S., and that number continues to rise. Chicago-based LaSalle's newest service allows customers to log in and view all ACH debits received for posting to their accounts each day. ACH Control is flexible, LaSalle says, letting customers choose which prevention features work best for them. For example, a company can choose to block all ACH debits to its accounts, and LaSalle will automatically return any received ACH debit as unauthorized. Another option allows customers to grant permission to specific parties to debit their accounts. ACH debits that meet the authorization criteria are automatically posted by the bank. Any unauthorized debits are made available to the customer for review and disposition. While fraud prevention was the key driver in developing ACH Control, the service has other time-saving attributes, LaSalle says. Users can search and view ACH transaction data, receive automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. notifications on activity, input control totals and manage ACH origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real file schedules, with just the click of a mouse. ACH Control is available through CashPro [R] Web, LaSalle's online treasury management solution. CashPro Web provides users with anytime, anywhere access to perform critical treasury management transactions easily and securely. Web: www.lasallebank.com |
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