Memphis TN., Nov. 18, 2011 – The BBB is warning consumers to be wary of emails that look like they are coming from the National Automated Clearing House Association (NACHA). The Automated Clearing House Network serves as a secure, reliable network for direct consumer, business, and government payments, and annually facilitates billions of payments such as Direct Deposit and Direct Payment.
Here’s how the scam works. You get an email, supposedly from NACHA. The email claims that an ACH transfer involving your bank account was rejected by the other financial institution. The email typically contains an attachment or link that will theoretically give you more information about the rejected transaction. It asks you to click on the link or open the attachment to see the details.