We launched this product about a year ago. In the past month we have had 3 cases of fraud, or attempted fraud. So now we are looking at changing our setup process. Currently it is an automated process. Customers enter their account number at the other FI into our system, we send a small deposit and the customer has to come back to tell us how much. If they enter the right amount, the setup is complete. We don't do any follow-up to see if the customer truly is an owner of the other account.
Wondering what everyone else is doing?