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The Rule creating the ACH Contact Registry was approved more than a year ago, and in that time Nacha has been proactively making financial institutions aware of the requirement to register—first that it was on the way, and later when the Registry opened …
Is Your Financial Institution’s Information Current in the ACH Contact Registry? Now’s the Time to Make Certain
One day you might need the help that the ACH Contact Registry was created to provide. But imagine how you’ll feel if the listing doesn’t provide the assistance it’s supposed to. That’s been an issue for some ACH Contact Registry users who have reached out …
NASHVILLE, Tennessee —There was a time when the focus of risk management on the ACH Network was controlling unauthorized debits. But keeping the ACH Network safe means keeping up with the times and anticipating future scenarios. Today, fraud involving …
LAS VEGAS —Keeping up with the Joneses can be a good thing, if the Joneses are doing all they can to prevent fraud. “It is important to figure out what the businesses around you are doing,” said Jeanette Hait Blanco, Nacha General Counsel. “The …
With the economic slowdown that resulted from the pandemic, the Nacha Risk Management Advisory Group (RMAG) updated its recommendations for ODFIs on sound business practice on exposure risk management. RMAG has a long history of providing sound business …
The third window for submitting Same Day ACH payments to the ACH Network has quickly gained acceptance among financial institutions, according to new survey results conducted by Nacha and its Risk Management Advisory Group (RMAG). The extension of Same …
When I say “risk management,” most people immediately think of preventing fraud and stopping the bad guys. While this is a big part of what we do in risk management, it isn’t the whole picture. Risk management involves identifying and preventing many …
If an Originator realizes it has fallen victim to credit-push fraud, the only obvious fact may be that a payment didn’t reach the intended Receiver. Beyond that, a flurry of questions can create uncertainty at a time that calls for decisive action. A …
RMAG’s Considerations for FIs Regarding Their Third-Party Senders’ Compliance with Audit and Risk Assessment Requirements
Nacha’s new Third-Party Sender Roles and Responsibilities Rule changes come into effect on September 30, 2022. The overarching purpose of the Rule change is to further clarify the roles and responsibilities of Third-Party Senders (TPSs) in the ACH Network …