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The Nacha Risk Management Advisory Group (RMAG) has developed sound business practices for ODFIs for both the onboarding of new Third-Party Sender (TPS) clients and the ongoing monitoring of existing TPS clients. Following recent discussions on the topic …
Even before the first phase of Same Day ACH was implemented nearly five years ago in September 2016, Nacha’s Risk Management Advisory Group (RMAG) had been evaluating potential risk increases and decreases due to Same Day ACH. Were the doom and gloom …
Any database is only as good as the information it contains, and the ACH Contact Registry is no exception. Although enforcement of the Registry Rule doesn’t begin until Aug. 1, Nacha is already making spot-checks for data quality. The Rule requires that …
Nearly five years ago, shortly after Nacha launched Same Day ACH, its Risk Management Advisory Group (RMAG) conducted a survey. It posed many questions to both Originating Depository Financial Institutions (ODFIs) and Receiving Depository Financial …
Fraud keeps changing. As it does, participants in the payments system need to understand and adapt to emerging fraud scenarios and develop counterstrategies to help protect their customers and themselves. Nacha’s previous risk management strategies for …
Growing cybersecurity threats and regulatory concerns have amplified the need for increased operational resilience around all critical banking and payments functions. To help organizations, Nacha and the Global Resilience Federation (GRF) have partnered …
It seems like the bad guys work night and day concocting new ways to separate people and businesses from their money. But when it comes to cybercrime, one scam tops the list: Business Email Compromise (BEC). “That accounts for over $1.8 billion in loss” …
Artificial Intelligence (AI) leapt into the lives of the public last year with ChatGPT and has been ever present in the conversations of risk professionals since. AI is improving rapidly and is far more capable than it was only a year ago. Nacha’s Risk …
Naysayers want you to believe there is no hope in preventing or surviving a ransomware attack, so you should just give up now. Or, you can join the Payments Innovation Alliance for its next webinar to learn how to cut through the fear, so you can focus …