This ACH Operations Bulletin provides information to Participating Depository Financial Institutions and their business customers about a specific type of social engineering fraud that is targeting public-sector entities. Fraudsters have used these social engineering techniques to manipulate public-sector entities into redirecting legitimate vendor payments to accounts controlled by the fraudsters. Although any business entity could be the target of this type of social engineering attack, public-sector entities seem to be specifically targeted because their contracting information is often a matter of public record.
Banking assets are the number one remitted property type in most states. Not only does this deplete the assets under your management, ever-changing unclaimed property laws also leave banks and credit unions at risk of non-compliance, which can result in significant fines and penalties. With PAR/WACHA by your side, we can help you retain assets and reduce your risk of non-compliance.
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This year, NACHA, the Regional Payments Associations, and more than 1,700 organizations will be celebrating National AAP Recognition Day in unique ways across the country. Learn about being an Accredited ACH Professional - Register for PAR/WACHA's FREE Webinar!
Strong Transaction Volume Consistent with Expectations
HERNDON, Va., Nov. 15, 2016 – NACHA —The Electronic Payments Association® released Same Day ACH transaction volume data for October, the first calendar month following Phase 1 implementation on Sept. 23, 2016.
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PAR/WACHA’s ACH auditors are all Accredited ACH Professionals (AAPs), so they know the rules and requirements for the ACH network inside and out. PAR/WACHA’s auditors will even train your ACH personnel as necessary and recommend solutions to the ACH compliance issues. Ask about our discounts!
The Payments Innovation Alliance released the white paper, “The Winning Mobile Wallet Solution” last week on Monday, April 18th. You can find the documents under the Member Resources Tab on the Alliance Exchange home page, or click to go directly to the white paper or its companion document. The press release announcing the paper’s availability can be found on the NACHA website at https://www.nacha.org/news/nachas-payments-innovation-alliance-releases-new-white-paper-winning-mobile-wallet-solution. The paper can be downloaded from the Alliance Exchange as well as from the main NACHA website.
Now Available in the Members Only Section (ACH Rules Updates)
While convenient, they’re often unsecure. So how can you reduce your risk? Encryption — having your information scrambled into code — is key to staying secure online.
In light of the increasing volume and sophistication of cyber threats, the Federal Financial Institutions Examination Council (FFIEC) developed the Cybersecurity Assessment Tool to help institutions identify their risks and determine their cybersecurity preparedness.
NACHA Voting Membership approves 9 ballots. Select the title to read more.