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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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BNY Mellon On The Need For Payments Innovation, AP Automation

PYMNTS

You have [the] brand-new Real-Time Payments network launched two years ago, you have Zelle as a massive consumer brand within the U.S., offering payments to business services [and] you have real-time account validation services via [application programming interface] API,” he said.