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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 …
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 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 …
HERNDON, Virginia , Sept. 22, 2022 –Nacha released a report on its latest Risk Management Framework today, providing a new strategy for industry participants in both the ACH Network as well as other payments systems to address new and persistent frauds …
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 …
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 …
Even before the first phase of Same Day ACH was implemented nearly five years ago in September 2016, Nacha’s Risk Management Advisory Group (RMAG) had been evaluating potential risk increases and decreases due to Same Day ACH. Were the doom and gloom …
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 …
Financial Institutions have been listing ACH contacts in Nacha’s ACH Contact Registry since the platform went live in July 2020. Most banks and credit unions are entering quality data that meets the requirements under the Nacha Operating Rules. That means …