Project Description

Video length: 3:19

MUSIC UP AND UNDER

FX: WORRY. WORRY. WORRY. WORRY. WORD KEEPS REPEATING IN UNDERCURRENT

NARRATOR: If you oversee your organization’s accounts payable or receivable,

The responsibilities of your job are enough to keep you up at night.

FX: Zzzzzz (LIGHT SNORING UNDER)

NARRATOR: When you do fall asleep, nightmares about fraud hitting your business are enough to wake you again.

STAN FX: SHORT SCREAM

FX: WORRY. WORRY. WORRY. WORRY. KEEPS REPEATING IN UNDERCURRENT

NARRATOR: Instead of worrying about fraud, protect against it.

And do it now, before fraud happens. Because after it happens, the money is gone.

NARRATOR: Take steps to protect against fraud before you adopt anything new …

A new payment method…

New digital capability…

New provider or supplier.

NARRATOR: Perform stringent due diligence.

Many new companies and new payment types are coming to market. If a new solution sounds good, make sure it’s also safe.

People are on the front line of the fight against fraud.

Educate your staff on all the types of fraud.

Train them to be alert to the signs of fraud.

Teach them to help prevent account takeover fraud by protecting their authentication credentials

And require forms of authentication beyond passwords and user IDs.

Empower your staff to fight impostor fraud by questioning unusual payment requests– even if they seem to come from top executives.

STAN: Do you really want me to send three million dollars to an account in Belize?

CEO: NO!!!

NARRATOR: Take steps to prevent fraud Before you make a payment or transaction.

FX: WHOOSH (LIKE SOUND OF CANISTER BEING SENT AT BANK DRIVE-THROUGH)

NARRATOR: Put dual controls in place to require two people to make a payment – one to request and one to approve.

If you have dual controls, update them to apply to ALL types of payments – including new faster payment methods and real-time APIs.

NARRATOR: You can help stop fraud BEFORE it happens with the right tools and techniques for evaluating providers, empowering employees, and controlling payments.

And don’t forget the last link in the fraud protection chain … the customer.

You need to know a new customer is who he says he is – and has the money to pay your bills – before you initiate service or process a payment.

You can protect against identity theft, account takeover fraud, and simple typos with a tool called Account Validation services, or AVS.

FX: COMPUTER BEEPS AND BOOPS

NARRATOR: AVS operates behind the scenes, in real-time, on deposit accounts across the U.S.

You can connect it to any digital interface: your ERP or customer service system, even a customer payment portal or app.

To verify an account, you or your customer input the routing number, account number, and name on the account. You may also require a tax ID, date of birth, address, or driver’s license number.

AVS can tell you instantly if the account is open or closed, the risk of payments being returned, and whether the account belongs to the individual or business that provided the information.

FX: SIREN

NARRATOR: When you’re ready to protect your business from fraud before it happens … contact your Wells Fargo representative.

Then you can look forward to a good night’s sleep.

“While no technology can protect against all identity theft, account takeover, or fraud, we believe these best practices and use of the Account Verification services (AVS) can help.”

MUSIC OUT