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ACH fraud continues to increase and the losses to credit unions have been staggering. Your credit union’s responsibilities and liabilities for ACH fraud vary depending on whether it is the Originating Depository Financial Institution (ODFI) or the Receiving Depository Financial Institution (RDFI) and whether the transaction involved a consumer or business account.
Did you know that the ODFI can still be liable for an unauthorized ACH withdrawal long after the NACHA return deadlines? Although the RDFI can’t recover funds through the NACHA network by means of return entries after the return deadline, the RDFI can obtain reimbursement from the ODFI under a breach of warranty theory through other legal methods. This webinar will explain how your credit union should respond in an ACH fraud situation and the related responsibilities and liabilities. Learn how to legally recover unauthorized ACH withdrawals after the NACHA return deadlines.
For more information and to register, CLICK HERE.