article thumbnail

ACH Fraud Is Rising - And New NACHA Measure Leaves Gaps

FICO

In response to a rise in fraudulent activity targeting ACH and other electronic transactions, the WEB Debit Account Validation Rule was put into effect by NACHA on March 19, 2021. From my mobile banking app, I can even initiate a wire transfer, which in days past was reserved for making large purchases (like a house) or sending money abroad.

NACHA 52