Handling Suspect International ACH Transactions (IAT's)
Speaker: Shelly Simpson
June 27, 2013
11:00 a.m. - 12:00 p.m.
Location: Your Telephone
Cost: $129.00 per Telephone Connection
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