Scammers Target ACH Transactions
"Fraudsters are now trying to use ACH transactions as vehicles for their scams as they move away from checks and wires," said the AFP.
As a new era of real-time payments dawns, companies must weigh the benefits against arguments for early caution.
Corporate Payments Still Attracting Fraudsters
Seventy-four percent of finance professionals report that their companies were victims of payments fraud in 2016, according to the AFP.
Noncash Payments Rise 5.3% Over Three Years
A Federal Reserve survey shows debit cards led the way in electronic payment growth between 2012 and 2015, increasing 7.1% by number annually.