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09/25/2022
Nacha Issues a New ‘Framework’ Aimed at Shifting Industry Emphasis to Credit Push Frauds
Digital Transactions
As payments fraud grows more threatening by the year, a report on Thursday from the governing body for the automated clearing house network recommends the payments industry shift its emphasis from combatting unauthorized debits to preventing crimes involving credit payments.
Dubbed a “new risk-management framework,” the recommendation issued by Nacha concerns cases in which fraudsters induce account holders to send money to accounts the criminals control. These credits, as they are known, can flow through a variety of pipes, Nacha says in a statement accompanying the report, including ACH credits, wire transfers, card networks, and “other instant and digital payments.”
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