NACHA Changes Credit-Push ACH Payments Rules To Fight Scams & Fraud – 2024
NACHA Changes ACH Credit-Push Payments Rules To Fight Scams & Fraud
Placing More Responsibility on the Financial Services Sector to Police Scams & Fraud
Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• NACHA
About This Article
Nacha members have endorsed rules to combat fraud, including business email compromise (BEC), leveraging credit-push payments. These rules mandate ACH payment monitoring for all network participants (excluding consumers), marking a pivotal shift.
Despite not altering liability, recipient financial institutions (RDFIs) gain a monitoring role for the first time. With BEC scams, vendor impersonation, and payroll fraud causing significant losses, the need for action is urgent.
