Ask Hoot-E: Phase 2 of the ACH Fraud Monitoring Rules is Effective June 19
The final phase of the ACH fraud monitoring requirements goes into effect June 19, and all financial institutions, Originators, TPSPs, TPSs and ODFIs must implement risk-based processes to identify potentially fraudulent ACH activity.
- Why it matters: These expanded requirements make it critical for EPCOR to strengthen fraud monitoring controls, identify suspicious activity and reduce exposure to ACH fraud losses while maintaining compliance with the ACH Rules.