Guidance released on ACH control
Regulatory Updater
The national bank regulator warns that banks have recently engaged in new ACH activities without enhancing existing risk management systems and controls. The OCC is concerned about non-recurring payments such as accounts receivable conversions, point-of-purchase, internet-initiated, telephone-initiated, and re-presented check entries.
Banks that participate in the ACH network should have in place systems and controls to mitigate the risks associated with ACH activities.
"A strong risk management
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