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The FBI has updated figures on Business Email Compromise (BEC) and none of the news is good. The bureau said there have been more than 166,000 incidents across the globe between June 2016 and July of this year. That’s based on victim reports to its …
With paper check use declining and electronic payment methods on the rise, the ACH Network has grown tremendously in recent years. A recent PaymentsJournal podcast unpacked how this growth continued into 2020, even as the pandemic disrupted regular …
ORLANDO, Fla.— Think you’ve got a handle on Business Email Compromise (BEC)? Maybe think again. “BEC fraudsters are innovative and devise ways that can ‘morph’ their fraud attempts into new and unexpected forms, thus continuing to scam their targets,” …
Payroll impersonation and redirection fraud is a fact of life today, but there’s a new way to help fight it. As part of its ongoing commitment to help protect against fraud, Nacha worked with payroll providers, Receiving Depository Financial Institutions …
Just because it’s summer doesn’t mean everything moves at a slower pace. Certainly not Same Day ACH, which set a record in July. It’s the first month in which Same Day ACH payment volume averaged more than 1 million payments per day. With 21 processing …
That didn’t take long at all. The ACH Contact Registry opened for business on July 1, and within a matter of days there were success stories to tell. Like when Eric Wester at UMACHA got a call from a member needing help with a missing payroll credit. …
There’s new evidence that businesses are rapidly abandoning checks in favor of ACH and other electronic payments. The 2022 Association for Financial Professionals (AFP) Digital Payments Survey , released Oct. 4, found that just 33% of business-to-business …
It isn’t every day that you see an increase of 1,140%. But when you look at some recent gains by Same Day ACH used for business-to-business (B2B) payments that’s exactly what happened. Back in the second quarter of 2019, Same Day ACH for B2B payments …
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 …