Any customers currently making phone calls to verify banking change requests?
Would be interested to hear from customers who are trying to combat fraud through phone calls — what information are you verifying and what criteria is used to determine who gets a phone call?
Answers
-
We contact everyone requesting a change to banking information using a known good phone number from our prior interactions. Calling the number provided with the change request could be one provided by the bad actor.
-
We are a small county (700 FTE) so we require them to come into the office and hand delivery them. If that is impossible (rarely), we ask the manager to confirm with them directly. Got caught too many times otherwise.
-
This is helpful - thank you. What about for brand new setups requesting electronic payment? Do you do a phone call for verification for those also? Or only for existing suppliers changing banking info?
-
We run account updates through account validation service (AVS) through our bank. If the score is below 90% we perform independent verification by calling a publicly listed number.
-
At new employee orientation, HR receives this information. They are asked to bring it in for that event. We do accept email, but it must come through the employees work email account. If they are on FMLA, we do accept a personal email account, but we will follow up with a phone call and confirm info like SSN, DOB, and Address.
-
Yes, we call on requests for new setups as well and only accept ACH requests once a supplier has an established business relationship with the county. We do not entertain the "let me give you my banking info just in case I do work with the county at some point in the future" kind of signups because we don't have an existing relationship to rely upon for authentication at that point.
-
Yes, the City of Boca Raton has a procedure in place where vendors are contacted to confirm the information before we implement it and the vendor is put on hold in Oracle so payments are not made to a closed account while the verification process is taking place. We also have separation of duties in place so the request comes into our AP Manager but our Treasury Manager is the one making the contact with the vendor and confirming.