Grappling With ACH Fraud

May 2009
Bank Technology News;May2009, Vol. 22 Issue 5, p1
Trade Publication
The article focuses on the growing percentage of fraudulent automated clearing house (ACH) transactions in the banking industry in the U.S. Aite Group's senior analyst Nick Holland reveals the increasing attraction and enticement of thieves and fraud acts for ACH transactions, considering the rising number of paper checks converted into ACH. Specifically, 95 percent of the country's banks and credit unions have posted their extreme concern on fraud cases on ACH transactions.


Related Articles

  • On Payment Guard. Epper Hoffman, Karen // Independent Banker;Aug2015, Vol. 65 Issue 8, p134 

    The article investigates fraud perpetrated through automated clearinghouse (ACH) and wire transfer channels. Topics discussed include the factors that attract criminals to ACH and wire fraud, the potential impact of EMV chips on ACH fraud and the steps that should be taken by banks to protect...

  • Malaysia picks checkfree for automated clearing. Marjanovic, Steven // American Banker;12/4/1998, Vol. 163 Issue 231, p11 

    Reports that Malaysia Electronic Payment Systems, a consortium of banks in the country, has bought Checkfree Corp.'s Pep Plus software for automated clearing house processing. Functions of the product; Effects of the adoption of American-style rules on overseas banks.

  • clearing banks (UK).  // International Dictionary of Finance, 4th Edition;2003, p47 

    Information on the term clearing banks (UK) is presented. It refers to members of the London Bankers' Clearing House.

  • Clearing House Automated Payments System (CHAPS).  // International Dictionary of Finance, 4th Edition;2003, p47 

    Information on the term Clearing House Automated Payments System (CHAPS) is presented. It is associated with clearing house in the financial services industry.

  • CLS services.  // International Dictionary of Finance, 4th Edition;2003, p48 

    Information on the term CLS services is presented. It is associated with clearing house.

  • automated clearing house.  // Bloomsbury Business Library - Business & Management Dictionary;2007, p565 

    A definition of the term "automated clearing house" is presented. It refers to ATM systems for interbank clearing and settlement of financial transactions. The network is also used for electronic fund transfers from a checking or savings account.

  • First SEPA Phase Goes Live In Europe.  // Cards & Payments;Mar2008, Vol. 21 Issue 3, p8 

    The article offers information on the Single Euro Payments Area (SEPA) project to create a common market for electronic payments in Europe. It states that in initial phase of the project, the banks processed official credit transfers under one payment system. About 95 percent of electronic...

  • Electronic funds transfer systems: One, two or more? Bank-run or Fed-run?  // Banking;Jul74, Vol. 66 Issue 13, p26 

    Part II. Presents a discussion regarding control electronic funds transfer systems. Information on the evolving stages of credit card; Definition of electronic funds transfer by the U.S. Federal Reserve Board; Comment on the New England automated clearing house.

  • New system to speed up check clearing. Gurliacci, David // Fairfield County Business Journal;6/21/2004, Vol. 43 Issue 25, p17 

    Reports that bankers in Connecticut expect a federal banking rule set to take effect in October 2004 in the United States to speed up check clearing at banks in the state. Impact that the rule will have on businesses that get many checks from far away; Cost of electronic transmission of checks.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics