Security Vendor, American Bankers Association offer diametrically opposed perspectives on how to prevent corporate account takeover. Jim Woodhill, founder and chairman of Chicago-based Authentify Inc., is lobbying for more protections for small business. Woodhill: “We can’t stop ACH fraud, but we can stop the (commercial) victims from being stuck with the losses” Woodhill says banking institutions won’t provide commercial customers with more protection unless they’re forced. The ABA vice president of risk management policy for the ABA says amending Reg E is a bad idea.”]
Source: https://www.cuinfosecurity.com/ach-fraud-great-debate-a-2578