Safety with Global ACH Payments
Global ACH payments are currently utilized, now, more than ever before. This has increased the need for trusted and secure sources, as the number scammers have also risen. There are now more effective and efficient methods to ensure your mass payments go to the right people.
Previously, there was little monitoring done to see where and when your money went. Banks now have multiple ways to watch your payees for the smallest sign of any laundering. When you make a Global ACH payment, make sure that it is through someone who runs a check through the Foreign Assets Control list. This makes sure your payment is not going to someone already known for fraud.
Global ACH Account Monitoring
Your account needs to be continuously monitored. When a scam such as money laundering occurs, it is generally through multiple smaller payments. This means that if only current payments are watched, the scam can easily continue. If, however, past payments are watched with current ones, trends are revealed through account activity.
It is important that the staff of your partner company knows what to look for. Specific trends or problem areas should be taught so that any scams are immediately caught. An untrained eye may miss something that could cost you. Staff should also be trained on how to deal with any alerts, so that this process is quick and effective. This ensures the least amount of money lost.
When using Global ACH, the correct monitoring methods make it a painless and transparent form of payment. As long as your hired company uses effective and efficient monitoring services, it should be an extremely secure method to handle mass payment.