Lyons Commercial Data Becomes Nacha Preferred Partner
HERNDON, Va., June 30, 2020 – Lyons Commercial Data is now a Nacha Preferred Partner for Routing Number, Account Validation, and Bank Ownership Verification. In becoming a Preferred Partner, Lyons Commercial Data joins a select group of innovators whose offerings align with Nacha’s strategies to advance the ACH Network. “Verifying routing and account information is […]
NACHA Upcoming Changes for Online ACH Transactions
In early 2021, NACHA will be changing compliance standards for routing number and account verification used for internet payments (WEB debits). The current iteration of the WEB Debit Account Validation Rule (Article Two, Subsection 2.5.17.4) states that originators of WEB debit entries must use a “commercially reasonable fraudulent transaction detection system” to screen for fraud. […]
New Lyons Commercial Data Support Center
At Lyons Commercial Data, we provide banks and financial institutions the best tools for staying compliant, managing risk, and reducing fraud. Our company knows the importance of providing support to our business customers and investing in tools to improve their customer experience. We are excited to announce our latest innovation in customer support with the […]
Coronavirus Masks from 3D Printer
Coronavirus OR covid-19 has impacted people and businesses all over the world. The rapid spread of COVID-19 has caused a shortage of protective masks for communities and healthcare workers. Thanks to innovative employees at the parent company of Lyons Commercial Data, Autoscribe is making protective masks using a 3D printer.
Red Flags Rule Compliance Part 2: Framework for a Compliant Program
In an earlier blog post, we covered the basics of the FTC’s Red Flags Rule – which requires certain types of businesses and financial organizations create an Identity Theft Prevention Program designed to detect the “red flags” (i.e. signs indicative of potential identity theft activity) unique to their day-to-day operations. Since every business deals with […]
Red Flags Rule Compliance Part 1: What’s a Red Flag & Who Needs to Know
The “Red Flags Rule” is a set of regulatory requirements outlined in the Fair and Accurate Credit Transactions Act (FACTA) and enforced by the Federal Trade Commission. Essentially, the rule requires businesses to protect themselves and their customers against identity theft by defining “red flags” (i.e. any suspicious account activity, informational inconsistencies, or other signals […]
Balancing Customer Service & KYC Authentication Requirements
KYC, or “Know Your Customer,” refers to the due diligence processes used to verify customers’ identities. KYC is completed not only when a company is first introduced to a customer, but also during various times throughout the customer/company relationship. Financial institutions use various KYC strategies as part of their required effort to ensure that none […]
How to Stay OFAC Compliant
The Office of Foreign Assets Control, or OFAC, is a financial intelligence and enforcement agency within the U.S. Department of Treasury’s Terrorism and Financial Intelligence division (TFI). It administers trade and economic sanctions against organizations and individuals identified as a threat to the national security, economy, and foreign policy of the United States. In conjunction […]
Lyons Commercial Data to Host Complimentary Webinar on Best Practices for ACH Compliance
JACKSONVILLE, FL – October 1, 2018 – Lyons Commercial Data, a leading provider of U.S. financial institution data and risk management solutions, will host a complimentary webinar covering best practices for achieving and maintaining ACH compliance. Laurie Nelson, General Counsel & Chief Compliance Officer, and Trevor Ward, General Manager, at Lyons Commercial Data, will walk […]
Lyons Commercial Data to Host Complimentary Webinar on Same Day ACH
JACKSONVILLE, FL – July 23, 2018 – Lyons Commercial Data, a leading provider of U.S. financial institution data and risk management solutions, will host a complimentary webinar on same day ACH compliance. Laurie Nelson, General Counsel & Chief Compliance Officer at Lyons Commercial Data, will walk participants through defining and understanding same day ACH, steps […]