Are you prepared for March 19, 2021? On that date, Nacha’s ACH Account Validation rule will go into effect. Insurance carriers will be among those impacted. While some carriers are prepared to a ‘commercially reasonable’ extent, many tools currently being used to validate account information do not go far enough to fight newer, more sophisticated fraud tactics.
GIACT’s new white paper, Securing Faster Payments: Addressing the Account Validation Rule, explores the rapid growth of ACH payments, the latest fraud tactics surrounding faster payments as well as how insurance companies can properly secure ACH transactions and apply robust account validation measures.