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It seems like the bad guys work night and day concocting new ways to separate people and businesses from their money. But when it comes to cybercrime, one scam tops the list: Business Email Compromise (BEC). “That accounts for over $1.8 billion in loss” …
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 …
Supplementing Fraud Detection Standards for WEB Debits As the ACH Network grows, part of that growth can be attributed to an increase in consumer payments made via the internet and mobile devices. With that growth comes a need to ensure account …
RMAG’s Considerations for FIs Regarding Their Third-Party Senders’ Compliance with Audit and Risk Assessment Requirements
Nacha’s new Third-Party Sender Roles and Responsibilities Rule changes come into effect on September 30, 2022. The overarching purpose of the Rule change is to further clarify the roles and responsibilities of Third-Party Senders (TPSs) in the ACH Network …
It’s often said that the Nacha Operating Rules are a living document, always changing, never stagnant. There was abundant proof of that in 2021, as seven Rules changes took effect, and 2022 is shaping up to be another busy year. First, let’s look at some …
Contact: Media Relations Passing the exam to become an Accredited ACH Professional, or AAP, is a remarkable accomplishment any year. To do it amid a pandemic is especially noteworthy. Which is why today, National AAP Recognition Day, Nacha is proud to …
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 …