NACHA Reports Zero Increase in Fraud with Same Day ACH
Nacha is reporting that there has been zero increase in fraud after the much-feared launch of Same Day ACH in September of last year. The report comes after Nacha survey 23 financial institutions about their experience with Same Day ACH. 100% of those banks reported no increase in fraud. And it’s not for lack of […]
Top 10 Fraud Types for 2017 Based on Losses
It was a bad year for fraud. A very bad year. Maybe the worst as I had written about in this article – Why Fraud is Worse Now Than Ever in History. I spent the last several weeks researching the Top 10 Banking Fraud losses here in the US based on 2016. I wanted to understand […]
5 Fraud Schemes That Will Hurt You With ACH
Same Day ACH; All the fraud experts are predicting a big uptick in fraud when it goes into full effect one year from now. But the impacts could be felt even sooner as NACHA is reporting that 95% of banks are going to process both ACH debits and credits starting now. The volume of transactions is […]