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Business Email Compromise and Check Fraud Continue to Hit U.S. Businesses, Report Finds
Business Email Compromise (BEC) and check fraud continued to give U.S. companies major headaches in 2020, a new report from the Association for Financial Professionals (AFP) found. More than three-quarters of organizations were targeted by BEC attacks, …
Same Day ACH Helps Lead ACH Network to Strong First Quarter Growth
HERNDON, Virginia , April 17, 2023 – The ACH Network began 2023 with solid growth in the first quarter, particularly in Same Day ACH where payment dollar values nearly doubled from a year earlier.  A total of 7.7 billion payments valued at $19.7 trillion …
What are You, and Your Competitors, Doing to Fight Fraud?
LAS VEGAS —Keeping up with the Joneses can be a good thing, if the Joneses are doing all they can to prevent fraud.  “It is important to figure out what the businesses around you are doing,” said Jeanette Hait Blanco, Nacha General Counsel.  “The …
FBI and AFP Reports Warn Business Email Compromise Remains a Threat
Two recent reports spotlight the fact that fraudsters remain hard at work, and that vigilance remains an absolute must. First, the FBI’s 2022 Internet Crime Report , released this year, shows business email compromise (BEC) “has evolved from simple …
Keep a Step Ahead of Today’s Ever-Changing Scams
LAS VEGAS —There are numerous frauds today putting your institution and its customers at risk. It’s a long list, and participants at Smarter Faster Payments 2023 heard from someone who knows only too well: Detective Jefferson Grace of the Las Vegas …
In New Fed Report, Further Proof that the ACH Network is Thriving
When Nacha says the modern ACH Network is thriving, we always have figures to back that up. The Federal Reserve recently gave us some additional evidence of just how accurate that statement is.  In the initial findings from its 2022 triennial payments …
The Fraudsters are Hard at Work. How Hard are You Fighting Back?
(L-R) Jordan Bennett, Pamela T. Rodriguez and Tim Thorson LAS VEGAS —Underestimate the fraudsters at your own risk. “These guys are really, really smart,” said Tim Thorson, AAP, CTP, Senior Vice President, Payments Risk, at Regions Bank. That’s why the …
A Checklist Approach to Reduce Fraud in Payroll Origination
A checklist approach to initiating a payroll can help ACH Originators and Third-Party Senders comply with rules and regulations, avoid errors, and reduce fraud. Nacha has published a general electronic payment initiation checklist that contains 10 steps. …
Nacha Announces 2023 Pay-Me Award Honorees
LAS VEGAS, April 19, 2023 – Nacha announced its 2023 Pay-Me Award Honorees during the Payments Connection Ceremony at its annual Smarter Faster Payments Conference. These movie-themed awards recognize some of the innovative solution providers that help …