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Earlier this month, NACHA (the National Automated Clearinghouse Association) sent its Government Relations Advisory Group on its annual pilgrimage to Capitol Hill. NACHA’s Bill Sullivan gave the recap to PYMNTS CEO Karen Webster. What NACHA has done that no one else in the U.S. NACHA is agnostic in its partnerships.
The recent Equifax data breach and a string of ransomware attacks in Europe have raised several questions around cybersecurity. The November edition of the PYMNTS Faster Payments Tracker™ , powered by NACHA, examines the latest efforts by businesses and governments to make faster payments both more widely accessible and secure.
Ransomware is in there, of course, where a methodology shift is underway — i.e. criminals are less random in their approach and now target specific companies and individuals. trillion, as logged in August and computed by NACHA. Across The Pond. Mobile malware is on the upswing, said the report, targeting mobile banking.
In its analysis of the Same-Day ACH rollout, NACHA found no evidence that it led to an increase in fraud attempts or successful breaches. False Sense of Protection. Companies appear to be overconfident in their ability to avoid fraud. “Banks, for years, have sheltered their customers,” she said.
Same-day ACH: Some encouraging stats from joint research from NACHA and PYMNTS. Cybercrime getting bigger and badder: Europol’s director, Robert Wainwright, warns that cybercrime is “remorseless” with “congregations” of bad guys launching thousands of attacks a day – 4,000 ransomware forays per diem, in fact. Speed, it seems, thrills.
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