Handling Suspect International ACH Transactions (IATs) QuickBite
Thursday, June 27
In Your Credit Union
Online registration is closed.
The International ACH Transactions (IAT) application was introduced into the ACH Network in September 2009. According to NACHA, approximately 30 million IAT transactions were processed in 2012 and even more are expected in the future. What percentage of these will your credit union receive? But more importantly, are you properly processing these entries? This session provides you with an overview of the rules surrounding IAT and highlights your responsibilities in the processing of IAT entries, including OFAC compliance obligations. Additionally, we’ll discuss recent ACH Rules changes related to IAT processing.
- Acceptance of IAT entries, including posting and availability
- Review the 2012 ACH Rules clarification on The Effect of Illegality
- What information needs to be screened
- Handling of suspect transactions and when to contact OFAC
- ACH Rules updates related to IAT
About the Speaker: Shelly Simpson, AAP, joined EPCOR in 2005 following an 11-year career with the Federal Reserve Bank of Kansas City. As the Payments Education Assistant Director with EPCOR, she designs and conducts education programs in support of ACH, cards and checks to over 2,300 financial institutions and corporate members throughout the central United States. Shelly also presents at regional and national industry conferences as an ACH payments expert and received her Accredited ACH Professional designation in October 2006.
Over $75 million - $109 per telephone connection
$7-$75 million - $89 per telephone connection
Under $7 million - $59 per telephone connection
An audio archive is available at no additional charge and can be accessed for 60 days after the live session. Instructions on accessing the archive will be sent with your connecting instructions and confirmation.
Sorry, no cancellations are allowed after connecting instructions and handout materials have been sent to registrants. Substitutions are welcomed and encouraged.
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