NACHA

NACHA sounds like a tasty snack but that's quite far from what it is. NACHA is actually the electronic payments association administering ACH payments.  If you already fired your boss, you know how important secure electronic payments are. Today NACHA issued a phishing alert that is sure to include malware.

According to the NACHA website, this is a brief description of what they do: “NACHA — The Electronic Payments Association is a not-for-profit association that oversees the Automated Clearing House (ACH) Network, a safe, efficient, green, and high-quality payment system. More than 15,000 depository financial institutions originated and received 18.2 billion ACH payments in 2008. NACHA is responsible for the administration, development, and enforcement of theNACHA Operating Rulesand sound risk management practices for the ACH Network.”

Taken directly from NACHA, here is the phishing warning for November 12, 2009:

Random individuals and/or companies may have received a falsified e-mail with the subject title “Rejected ACH Transaction.” This e-mail appears to be from NACHA – The Electronic Payments Association telling them that there is a problem with an ACH transaction they have originated. The e-mail includes a link which redirects the individual to a fake web page which appears like the NACHA website and contains a link which is almost certainly executable virus with malware. See sample below.

Please alert any financial institution and/or company who have questions about this site and inform them that the e-mail did not originate from NACHA, the website is not that of NACHA’s, and inform them to not click on the link.

NACHA may also amend their rules in accordance with an expected surge in mobile payment processing over the national ACH network. Read more about mobile phones and NACHA here.