Current Fraud Threats
Threats and fraud can be perpetuated through cyberattacks, business email compromise (BEC), email account compromise (EAC), ransomware, account takeover, social engineering, and even vendor impersonation fraud.
Protect Your Organization From Fraud
Threats and fraud can be perpetuated through cyberattacks, business email compromise (BEC), email account compromise (EAC), ransomware, account takeover, social engineering, and even vendor impersonation fraud. While these threats are not about a direct compromise of the ACH Network or other payment systems, they exploit vulnerabilities or gaps in processes or procedures. Nacha is committed to helping financial institutions, businesses, other organizations, and consumers protect themselves and prevent fraudulent activity.
Business Email Compromise
Business email compromise (BEC) attacks are a form of cybercrime that uses email fraud to attack organizations. In 2020, the FBI (through IC3.gov) received 19,369 BEC/EAC complaints with adjusted losses of over $1.8 billion.
Ransomware
Ransomware is a type of malware that threatens to publish the victim's personal data or perpetually block access to it unless a ransom is paid.
Money Mule
A money mule is someone who transfers or moves illegally acquired money on behalf of someone else.
Coronavirus Scams
COVID-19 scams are frauds that primarily rely on the existence of the COVID-19 pandemic.
Account Takeover
Account takeover is a type of cybercrime or identity theft where a malicious third party gains access to (or “takes over”) an online account, such as an e-mail address, bank account, or social media profile.
WEB eResources
WEB transactions, or Internet-Initiated/Mobile Entries, are one of the fastest-growing areas of Direct Payment via ACH. As more organizations look for sound business practices and solutions to offer WEB payment options, Nacha developed eResources to support businesses and financial institutions in implementing and using the WEB code.
Additional Resources
Common Fraud Schemes Encountered by the FBI