Increased Incidence of Fraud

Further to previous notices, NACHA – The Electronic Payments Association has received reports that individuals and/or companies continue to receive fraudulent emails that have the appearance of having been sent from NACHA. These emails vary in content and appear to be transmitted from email addresses associated with the NACHA domain (@nacha.org). Some bear the name of fictitious NACHA employees and/or departments.

NACHA itself does not process nor touch the ACH transactions that flow to and from organizations and financial institutions. NACHA does not send communications to persons or organizations about individual ACH transactions that they originate or receive.

Be aware that phishing emails frequently have attachments and/or links to Web pages that host malicious code and software. Do not open attachments or follow Web links in unsolicited emails from unknown parties or from parties with whom you do not normally communicate, or that appear to be known but are suspicious or otherwise unusual.

Please forward fraudulent emails claiming to be from NACHA to abuse@nacha.org.

Find more information on protecting yourself from fraud.

Fraudulent Wire Transfers

Fraudsters have also been targeting Wire Transfers lately. Through some means, they trick the customer into faxing them a letter with a cover sheet that includes an account number, the company logo and a company signature. They then turn around and create wire instructions that are faxed to the customer's bank. With the company logo and signature, the fax instructions look official.

Companies who wire money should ensure the following security guidelines are in place:

• Always have your bank call you to confirm a wire transfer;
• If you use Online Banking, have dual controls in place so that a single person cannot initiate and authorize a wire;
• NEVER give out your account information in response to an unsolicited email, fax or phone call; and
• Protect your PC from being compromised by following these Fraud Tips.