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ACH Fraud: The Impact on Banks

Survey of 77 U.S. financial institutions shows more accounts hit, Dollar Losses down. Financial exposure associated with incidents of ACH-related fraud is up, and so are the overall losses. The bright spot is that 36 percent of takeover incidents reported in 2010 were stopped before fraudulent funds transfers were approved. In 2009, only 86 takeovers were reported, though FS-ISAC did not say how many institutions were affected. The majority of respondents, 86 percent, were banks, with 60 percent falling under the small-bank category.”]

Source: https://www.cuinfosecurity.com/ach-fraud-impact-on-banks-a-3998

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