Investigation & Resolution
Resolve with Confidence
Federal Reserve Financial Services (FRFS) equips your team with reporting tools, collaborative industry resources and practical educational content designed to help address cases and support fund recovery.
How FRFS Helps You Mitigate Fraud
Resolve cases across financial institutions
The Exception Resolution Service and FedNow® Service’s participant fraud reporting capabilities help financial institutions coordinate faster and close cases more efficiently.
Exception Resolution Service
Manage exception cases through a single service, including disputes, notifications and requests for additional information. This reduces reliance on labor-intensive communication methods such as phone and email when resolving disputes.
Participant Fraud Reporting (Off-site)
The FedNow Service requires fraud reporting and classification, sent by either the sending or receiving financial institution, which helps inform the FedNow Service and counterparty of the reported fraud, helping expedite investigation and customer after-care activities.
Obtain insights
FRFS offers unique visibility across the payments ecosystem and delivers actionable intelligence, tools and educational resources that can help financial institutions identify and share insights (Off-site) more effectively.
FedPayments® Insights Service for FedACH® Services
Financial institutions can benchmark their FedACH performance against industry data through the Benchmarking Return Rate report, which allows financial institutions to compare their unauthorized, invalid/administrative and overall return rates against industry benchmarks, helping identify trends that may signal emerging fraud risk.
FedPayments Reporter for Check Services
To help manage check fraud risk, financial institutions can use the Corporate Payor Report, which provides more time for your customers to review items for alterations and suspicious endorsements. The DFI-Check Advanced Notice Return Report may provide earlier visibility into returned items, allowing the depositing bank to extend fund availability holds and reduce risk of loss.
FedDetect Anomaly Notification for FedACH Services, part of the FedDetect Notification Services suite
Financial institutions can gather insights using the Unauthorized and Invalid Return Activity to Originator (ODFI) use case. This premier (fees apply) use case helps identify emerging trends of increased unauthorized returns or invalid debit return activity relative to your originator’s historical values. Surfacing these trends can help financial institutions develop more informed insights across fraud, risk and compliance teams.
Scam and Fraud Education
Strengthen fraud detection through consistent classification
The FraudClassifierSM and ScamClassifierSM models (Off-site) are designed to support consistent fraud and scam classification across organizations regardless of payment type or channel.
Stay informed and stay protected
The Fraud Mitigation Toolkits (Off-site) offer educational resources designed to help organizations identify emerging threats and take informed steps to help mitigate fraud and protect customers. The topics include account takeover fraud, check fraud, scams and synthetic identity fraud.
Ready to Strengthen Your Fraud Defenses?
Contact your relationship manager to learn more about how FRFS can help enhance payment security for your organization.
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The Fraud Mitigation Resource Center is educational only and is not intended to provide business or legal advice, nor is it intended to promote or advocate a specific action or risk mitigation strategy. Readers should consult with their own business and legal advisors for specific guidance.