Supplementing Fraud Detection Standards for Debits Will Affect Debt Collectors
Originators of automated clearinghouse (ACH) debit payments have always been required to use a “commercially reasonable fraudulent transaction detection system” to screen such debits for fraud. As of March 19, 2021, Nacha (previously NACHA – National Automated Clearing House Association) has made it explicit that “account validation” is part of a “commercially reasonable fraudulent transaction … More Supplementing Fraud Detection Standards for Debits Will Affect Debt Collectors