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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. The supplemental requirement applies to the first use of an account number or changes to the account number. Source: NACHA. Here’s why.

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Fraud: What Pandemic Panic Buying And Black Friday Have In Common

PYMNTS

Doing so, he said, can help a firm ascertain whether first-party fraud is in play — and the transaction should ultimately go through — or whether fraudsters are attempting account takeovers or establishing new accounts with synthetic IDs.