Dealing with ACH Tax Refunds: Exceptions, Posting, & FI responsibilities
ENDED
Online Webinar by
Online Compliance Panel
Inquire Now
Online
/ Webinar
Details
This training program will help identity frauds that lead to tax refund fraud and discuss funds availability exceptions. It will also discuss common non-post issues, the IRS Opt-In Program and eLeads, refund handling procedures, remedial actions, and suspicious
activity reports.
Why Should you Attend
Each year, federal tax refund time presents a nightmare of situations for institutions. From money mules to identity theft, nasty divorce situations to non-post items, institutions sometimes find themselves in high risk situations with no clear guidance on how to proceed.
Institutions need to be prepared for the onslaught of situations the tax refund season presents. Regardless of the scenario, there are some sound business practices that can reduce the institution's exposure to loss and non-compliance.
This webinar, designed specifically for financial institutions, walks through typical federal tax refund situations and helps staff develop a strategy to successfully navigate potential pitfalls. This course will address common institution questions, including:
Why Should you Attend
Each year, federal tax refund time presents a nightmare of situations for institutions. From money mules to identity theft, nasty divorce situations to non-post items, institutions sometimes find themselves in high risk situations with no clear guidance on how to proceed.
Institutions need to be prepared for the onslaught of situations the tax refund season presents. Regardless of the scenario, there are some sound business practices that can reduce the institution's exposure to loss and non-compliance.
This webinar, designed specifically for financial institutions, walks through typical federal tax refund situations and helps staff develop a strategy to successfully navigate potential pitfalls. This course will address common institution questions, including:
- We suspect a customer is committing tax refund fraud. Can we do anything?
- When is our institution potentially liable for losses associated with tax refunds?
- What return reason code do we use if we need to return a refund?
- Can we check to see if an account holder is entitled to a tax refund?
Outline
Areas Covered
- Introductions
- Refund fraud examples
- Common tax refund issues
- Non-post/exceptions
- Posted to wrong account
- Situations that increase an RDFI's liability
- Funds availability and the exception rule
- Returns, including Opt-In Program
- Institution sound business practices for managing tax refund frauds
- Staff and customer education
- Scripts
- Handling procedures
- Remedial procedures
- Suspicious activity report tips
- Conclusion/recap/Q&A
Reviews
Be the first to write a review about this course.
Write a Review
Onlinecompliancepanel is a dedicated team of youngsters, who work in tandem with the latest US FDA regulations/regulatory compliance in creating training sessions suitable for individuals and corporations. These sessions are simple, interactive and cost effective. We are a predominantly web based information exchange forum. Our interactive training sessions could be beneficial to corporations thriving in industries such as pharmaceuticals, drugs and chemicals, FDA compliance, medical devices, packaging and labeling, food and beverages, banking and finance, audits and inspections, recalls and crisis management and many more. We emphasizes in offering regulatory compliance training to compliance professionals on varied topics. These primarily include risk management, quality management, corporate compliance and other regulatory compliances. Some of our primary areas of focus include advancement and updates in regulatory compliance, best practices, risk management and market trends.
Professional training, in the essential quality disciplines, contributes to both the competitiveness of your business and also to personal motivation; it broadens the experience and accelerates the development of those who participate. We provide training in a number of ways: ...
Professional training, in the essential quality disciplines, contributes to both the competitiveness of your business and also to personal motivation; it broadens the experience and accelerates the development of those who participate. We provide training in a number of ways: ...
