Navigating the Rules and Regulations of Fraud & Risk in FedNow® and RTP®

Dive into the rules and regulations of fraud and risk associated with FedNow® and RTP®. Discover what is expected from the Clearing house and the Federal Reserve to minimize fraud and what tools are provided. Equip your institution with robust strategies to navigate the evolving threats in real-time and instant payment systems.

Wednesday, September 4th, 2024
1:30 pm - 2:30 pm
Presented by Kevin Olsen
1.2 APRP Credits
$299.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • BSA
  • Compliance
  • Deposit
  • Transaction Compliance
  • Bank Legal Counsel
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Compliance Officer
  • Internal Auditor
  • Risk Manager
  • Training Manager
  • Trainer

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The new era of real-time payments, ushered in by FedNow® and RTP®, offers unparalleled convenience. However, with these advancements come new vectors for fraud and risk. This webinar is tailored to provide attendees with a comprehensive understanding of the distinctive challenges posed by these real-time systems. Taken from the perspective of what Nacha, The Clearing House, and the Federal Reserve have made public in rules and guidance, you will learn how to create strategies to minimize credit fraud. From an in-depth exploration of monitoring requirements to the nuances of the FRB Fraud Classifier in relation to FedNow®, we will cover it all. Participants will also learn the intricacies of notifications in RTP® and the collaborative efforts essential in this new age of payments. With the right knowledge, financial institutions can not only mitigate threats but also flourish in this new landscape.

What You'll Learn

  • Specific fraud and risk exclusive to FedNow® and RTP® transactions
  • Fraud reporting requirement for the FedNow® and RTP® networks
  • Operating Circular 8 - what it means to your institution
  • Monitoring intricacies and mandatory reporting guidelines for real-time systems
  • Implications of the FRB Fraud Classifier within the FedNow® context
  • System vs. Participant notifications in RTP®
  • Best practices for fraud detection and prevention

Who Should Attend

This session is crucial for fraud and risk management experts, payments strategists, and top-tier executives of financial institutions, especially those actively engaged or planning to onboard real-time payment platforms like FedNow® and RTP®. It is particularly beneficial for Risk Management Specialists, Cybersecurity Officers, Operations Managers, Digital Strategy Professionals, Risk Management Departments, Compliance Officers, IT Departments, Innovation and Product Development Teams, and Training and Development Departments.

Kevin Olsen

Instructor Bio

Kevin Olsen is the Payments Professor bringing enthusiasm and motivation to presentations. Viewing the world as a classroom which is exemplified in the professor’s “edutainment” (when education is motivating, informative, and fun) style of training as he seeks to educate and inform all on the latest developments and trends in the fascinating world of electronic payments Kevin develops programs, presentations, and articles designed to orient and educate financial professionals on a multitude of electronic payment topics. Kevin is also a certified business coach helping lead organizations to innovate and communicate in the ever-changing world of payments, including building of payment strategies with a focus on product development and use cases for faster payments (RTP & FedNow).

Among his many certifications, Kevin is an Accredited ACH Professional (AAP), an Accredited Payments Risk Professional (APRP), an NCP (National Check Payments Certification) as well as an NCP Certified Trainer and a Certified High-Performance Coach (CHPC), and holds a masters in industrial organizational psychology from Liberty University.

Continuing Education Credit Information

Navigating the Rules and Regulations of Fraud & Risk in FedNow® and RTP® has been approved for 1.2 APRP renewal credits by Nacha. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at Nacha.