ACH & Wire Fraud Prevention - For Businesses Quiz

1. What is the main difference between ACH transactions and wire transfers?

A. ACH transactions involve larger sums of money. B. Wire transfers are scheduled transactions. C. Wire transfers typically involve larger sums of money.

2. Which of the following is an example of ACH fraud?

A. A criminal accesses a retail customer's credentials and sets himself up as an automatic bill-pay recipient. B. A criminal uses a fake email domain to request a wire transfer. C. A criminal uses a stolen credit card to make online purchases.

3. What is a recommended ACH fraud prevention tip?

A. Use shared usernames and passwords for online banking systems. B. Initiate ACH and wire transfer payments under dual control. C. Avoid updating virus protection and security software regularly.

4. What should be done for international wire transfers over $50,000?

A. Contact your local police only. B. Call your regional FBI office and local police. C. Do nothing unless the transfer is fraudulent.

5. What is the Financial Fraud Kill Chain (FFKC) process used for?

A. To initiate domestic wire transfers. B. To help recover large international wire transfers stolen from the United States. C. To prevent ACH fraud.

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