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ODFI Update: WEB Fraud Detection Standards Rule 2021

Description

Event Details*
Thursday, February 11, 2021
Time: 2:00 PM – 3:00 PM

Learning Level: Beginner
Webinar & Complimentary Recording; 1.2 AAP/APRP CEU Eligible

Event Registration**
Member Price:     $225.00
Non-Member Price:   $325.00

Effective March 19, 2021 Nacha will implement a change to the ACH Rules that affect all businesses using the Standard Entry Class Code WEB (Internet-initiated ACH entries). 

This Rules change affects all industries, of every size, who allow consumers to make purchases or direct payments using the internet or a mobile device. This change is intended to help prevent fraud and related losses. 

Since ODFIs are responsible for what their business clients do (and don’t do) it’s important to understand this pending Rules change to ensure:

  1. Your FI and your clients are prepared for the implications and requirements of this Rule
  2. You know how to verify your clients are properly meeting or exceeding the requirements
  3. What effects this change may have on your Origination agreements
Attendees will leave the session with an understanding of:
  1. Definition of the new Rule;
  2. Possible validation methods;
  3. How to identify affected transactions;
  4. Ways to record suggested steps to prepare for compliance with the new Rule.
Speaker:
Rayleen M. Pirnie, Director, Risk & Fraud, NEACH

This session is ideal for those with responsibilities in: 
  • ACH Operations Staff
  • ACH Managers
  • Compliance Officers (Auditors)
  • Electronic Payments Professionals
  • Risk Management
  • AAPs & APRPs wanting to earn CEUs
You might also like:
  • 2021 Industry Update

*Please note that the access information will be sent to you in a separate email upon receipt of payment.  Access information and support are only provided during normal business hours.
** This event is part of the NEACH Education Club.  Members who join the Club save $75 off the cost of this event.


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