ACH Fraud Quiz

1. What is ACH payment fraud?

A. Authorized withdrawal of funds using ACH transactions. B. Unauthorized withdrawal of funds using ACH transactions. C. A legitimate way to transfer funds between accounts.

2. Which of the following is a method used by scammers to commit ACH payment fraud?

A. Sending legitimate invoices. B. Using phishing emails to obtain bank account information. C. Offering high-interest savings accounts.

3. How can individuals protect themselves from ACH payment fraud?

A. Share bank account details with trusted friends. B. Regularly monitor bank account statements for unauthorized transactions. C. Use the same password for all online accounts.

4. What should you do if you suspect ACH fraud on your account?

A. Wait for the bank to notice and contact you. B. Report the activity to your bank immediately. C. Ignore it if the amount is small.

5. Which of the following is NOT a type of ACH payment fraud?

A. Payroll Fraud B. Vendor Fraud C. Legitimate ACH Transfers

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