NACHA has partnered with industry leaders to develop tools, resources, and sound business practices to help financial institutions and businesses mitigate Corporate Account Takeover (CATO)risk.
Corporate Account Takeover (CATO) is a form of corporate identity theft where a business’ online credentials are stolen by malware. Criminal entities can then initiate fraudulent banking activity. Corporate Account Takeover involves compromised identity credentials and is not about compromises to the wire system or ACH Network. ACH fraud and wire fraud, terms mistakenly used to describe this type of criminal activity, are a misnomer. The ACH Network is safe and secure.
Visit NACHA’s resource center online at www.nacha.org/CorporateAccountTakeoverResourceCenter for regulatory guidance and helpful information on the following topics:
■Sound Business Practices for Financial Institutions to Mitigate Corporate Account Takeover
■Sound Business Practices for Businesses to Mitigate Corporate Account Takeover
■Sound Business Practices for Third-Party Service Providers to Mitigate Corporate Account Takeover
■Corporate Account Takeover: What You Need to Know
For more information on Corporate Account Takeover and available resources, please contact NACHA's Risk Department at 703-561-1100.