How does the ACH credit payment protect against phishing, pharming, spoofing and other related malicious attacks?
An ACH credit payment would require FIs to be compliant with the 2005 FFIEC guidance to minimize the risk for phishing, pharming, spoofing, and other related malicious attacks as they are conducted today. The fraudster would be unable to obtain all of the factors of authentication or penetrate multiple layers of security, which would be required in order to access and compromise the consumer’s online banking or account information.
