New ACH Fraud Monitoring Rules June 22nd: Is Your Business Ready?
Spending made smarter
Easy-to-use cards, funds, approval flows, vendor payments -plus an average savings of 5%.1
On June 22nd, every business originating ACH payments, whether you send 20 or 20,000 vendor payments per month, will be required to implement documented, risk-based fraud monitoring for ACH transactions, verify recipient bank accounts before sending payment, and maintain a searchable audit trail for at least two years.
There is no volume threshold and no grace period.
The fines are real, nearly doubling in 2023, hitting 88% of small organizations that assumed the rules didn't apply. Many remain unaware that these requirements apply directly to their AP and payment workflows.
Join this educational session covering:
- An overview of Nacha Phase 2 and its three key requirements
- Where most finance team and AP teams have the greatest exposure
- What compliant ACH payment workflows need to look like
- Best practices for fraud monitoring and bank account verification
About the speakers
Tekla Taylor
Business Operations, Consero Global
Jose Millan
Solutions Engineer, Ramp
Mark Brousseau
President, Brousseau & Associates
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