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For technology firm Profituity, having the latest Nacha Rules is indispensable. “We feel at Profituity we have a really good handle on the basic Rules, but we are very curious about what’s changing and why, so that as we help our customers mitigate …
Nacha continually publishes new resources and updates existing tools to help ACH Network participants manage risk. It certainly kept up the pace in 2023. In the end-of-year calm arising from an IT moratorium or customer out-of-office messages, the next …
It’s one of the most important services Nacha provides to financial institutions. To better assist its users a fresh new look and other enhancements are coming soon to the Risk Management Portal. Before anything changes, we want to assure you that a …
Risk management imposes unavoidable expense. At one extreme, an organization might choose to forego all efforts at reducing risk and accept whatever losses come its way. At the other extreme, it might spare no expense to mitigate all possible risks …
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’s an issue vexing financial institutions big and small—while keeping Nacha’s National System of Fines busy handling disputes: proof of authorization. “There’s a lot of confusion surrounding what constitutes a valid proof of authorization,” said Lorie …
RMAG Offers Guidance for Risk-Based Controls to Address the Potential of Fraudsters Gaining Access to Illicit Funds
RMAG's membership of risk management professionals works diligently to protect financial institutions, customers, and the ACH Network from threats posed by all types of financial crimes and fraud. These scenarios include the potential for financial …
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 Risk Management Advisory Group (RMAG) met in-person in October with an agenda focused on the themes of the “New Risk Management Framework for the Era of Credit-Push Fraud.” One of the main themes discussed was the role that Receiving Depository …