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APRP - Risk Types(solved & updated 2024)
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APRP - Risk Types(solved & updated 2024)
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APRP - RiskTypes(solved &
updated 2024)
Compliance Risk
occurs when a party to a transaction fails to
comply, either knowingly or inadvertently, with
payment system rules and policies, regulations and
applicable US and state law.
Counterparty Risk
the risk to each party of a contract that the
counterparty will not live up to its contractual
obligations. It is a risk to both parties and should
be considered when evaluating a contract.
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Credit Risk
the risk that a party to a transaction will not be
able to provide the necessary funds, as contracted,
for settlement to take place on the scheduled date
(i.e., it arises when a party will not settle an
obligation for full value).
Cross Channel Risk
occurs when the movement of fraudulent or illegal
payment transactions from one payments channel
to another (e.g., check payments to ACH) is met
with inconsistent risk management practices and
lack of information sharing across payment
channels about fraud.
Direct Access Risk
Specific to the ACH Network, is defined as a
situation in which an Originator, Third-Party Sender
or Third-Party Service Provider transmits ACH files
directly to an ACH Operator using the ODFI's
routing number and settlement account.
Fraud Risk
occurs when a payment transaction is initiated or
altered by any party to the transaction (i.e.,
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