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August 31, 2021
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” in 2020, said FBI Special Agent Brian…
Risk Management
July 12, 2021
Any database is only as good as the information it contains, and the ACH Contact Registry is no exception.
Although enforcement of the Registry Rule doesn’t begin until Aug. 1, Nacha is already making spot-checks for data quality.
The Rule requires that phone numbers and email addresses…
Risk Management
June 29, 2021
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 scenarios justified, in which Same Day ACH would…
Same Day ACH, Risk Management
May 13, 2021
Is Your Financial Institution’s Information Current in the ACH Contact Registry? Now’s the Time to Make Certain
One day you might need the help that the ACH Contact Registry was created to provide. But imagine how you’ll feel if the listing doesn’t provide the assistance it’s supposed to.
That’s been an issue for some ACH Contact Registry users who have reached out to Nacha.
“We have heard about cases…
Risk Management, ACH
April 13, 2021
The Rule creating the ACH Contact Registry was approved more than a year ago, and in that time Nacha has been proactively making financial institutions aware of the requirement to register—first that it was on the way, and later when the Registry opened on July 1, 2020.
More than 34,000…
Risk Management
December 21, 2020
In your list of new year’s resolutions, how about one to add your information to the ACH Contact Registry?
If you already did, thank you! In fact, at the close of 2020, more than 32,000 contacts had been registered by financial institutions across the country. Nacha is thankful to those who have…
Risk Management
October 19, 2020
ACH Operations Bulletin #7-2020 Nacha Provides Update on COVID-19 Relief and Upcoming Effective Dates
Approximately six months ago, Nacha issued several ACH Operations Bulletins and Frequently Asked Questions announcing relief from a variety of requirements of the Nacha Operating Rules due to the impact of the coronavirus pandemic. This ACH Operations Bulletin provides an update on…
ACH, Operations Bulletin
October 2, 2020
Nacha has approved eight new amendments to the Nacha Operating Rules governing the use of ACH payments. Many of the changes reflect a long-term strategy to modernize the ACH system, both through infrastructure improvements such as Same Day ACH; and making ACH payments easier to use for the country’…
Risk Management, Nacha Operating Rules, ACH
September 30, 2020
It doesn’t seem that long ago we sent out an email heralding the launch of the ACH Contact Registry. Now we’re at the point where the ACH Contact Registry has been open three months, with another very important milestone literally days away.
October 30 is the deadline for financial institutions…
Risk Management, ACH
September 17, 2020
Nacha’s Payments Innovation Alliance Releases Two New Resources Focused on Voice Payments and Pandemic-Related Cybersecurity Best Practices
The Alliance’s Project Teams continue to play a crucial role in providing thought leadership on topics impacting the payments space and financial services
HERNDON, Va., Sept. 17, 2020 – In its continued efforts to shape the future of the payments industry and to develop thought leadership…
Membership, Products and Solutions