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One of the best weapons in the fight against fraudsters is sharing information. It can also be one of the trickiest issues to navigate, given the many privacy concerns. Nacha’s Risk Management Advisory Group (RMAG) is working to address this with open …
Checks Still the Payment Method Most Susceptible to Fraud There’s encouraging news in the war on Business Email Compromise (BEC), though the numbers remain cause for concern. “Sixty-eight percent of organizations were targeted by BEC in 2021, eight …
With one new Nacha Rule just taking effect last month and two others right behind in September, Nacha has a wealth of new and refreshed materials to help you along. On June 30, Phase Two of Supplementing Data Security Requirements took effect, expanding …
Increasing the Same Day ACH dollar limit to $1 million per payment posed no greater fraud risk than the prior $100,000 threshold, a new survey by Nacha’s Risk Management Advisory Group (RMAG) found. RMAG reviewed the proposal before it took effect in …
In more than 1,000 landings as a naval aviator, I never once made a gear-up landing. I didn’t take any chances: I used a checklist to prepare for every landing. The checklist was necessary not because lowering the landing gear is difficult to remember. It …
A Busy 2023 Ahead in the Financial World, Policy Experts Tell Nacha’s Government Relations Advisory Group
For any administration, regardless of party, the financial world always puts a lot on your plate. The third year of the Biden administration is no different, and Nacha’s Government Relations Advisory Group (GRAG) recently learned what some of the policy …
A recent Nacha blog article suggested that a checklist approach to payment initiation could help Originators comply with rules and regulations, avoid errors, and reduce fraud. Nacha’s Risk Management Advisory Group (RMAG) believes a similar approach might …
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 …
In a matter of days, Phase 2 of the Nacha Micro-Entries Rule takes effect. Starting March 17, 2023, Originators of Micro-Entries will have to use commercially reasonable fraud detection. “At a minimum that includes monitoring forward and return volumes …