193 results related to "*"
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 …
The Risk Management Advisory Group (RMAG) recently released blogs offering a checklist approach for Originators and for ODFIs responding to instances of credit-push fraud. These checklists can help Originators and ODFIs think through how they plan their …
Nacha’s latest Risk Management Framework demonstrates a new way of thinking about fraud detection, prevention and recovery. All participants in the payments system, whether the ACH Network or elsewhere, have roles to play in working together to combat …
These Rule amendments become effective on Oct 1, 2024 and are part of a larger Risk Management package intended to reduce the incidence of successful fraud attempts and improve the recovery of funds after frauds have …
The overarching purpose of these two Rules is to deter and prevent, to the extent possible, the improper use of reversals and the harm it can cause. The two Rules explicitly address improper uses of reversals, and improve enforcement capabilities for …
Nacha is requesting industry comment on nine proposals to amend the Nacha Rules. These proposals concern risk management and are substantially oriented towards reducing the incidence of successful fraud and improving the recovery of funds within the ACH …
A new Nacha Rule that’s been in effect for just over a year is proving to be quite successful. The rule repurposed an existing, little-used return reason code—R11—to be used when an RDFI’s customer claims that there was an error with an otherwise …
Nacha believes that risk management is central to maintaining a high-quality ACH Network that relies on the trust of each participant. Financial Institutions’ obligations include conducting a risk assessment and implementing a risk management program …
Although Tax Day was April 15, the IRS and State Tax Refund Return Opt-In Programs are available year-round to help financial institutions return tax refund credits in cases of suspected error or fraud. Participation is straightforward: Simply read and …