NACHA is asking treasury professionals to weigh in on a timely topic—security requirements to protect ACH-related information.
Additional information could potentially require large originators and third parties to encrypt, mask or remove/replace ACH-related account information that is held at rest. The RFI also requests feedback related to account information compromises and substitute account information.
“While security and additional protection against fraud is always welcome, you also have to be mindful about implementation costs,” said Magnus Carlsson, manager of treasury and payments for AFP. “This is an opportunity for corporates to weigh in on potential rule changes going forward.”