ACH Payroll Processing & Fedwire Blog

ACH Payroll Processing & Fedwire Blog

  • Federal Reserve Warning: Fraudulent FedACH Payment Activity

    Federal Reserve Warning: Fraudulent FedACH Payment Activity

    Date : Monday, July 17, 2017

    According to the Federal Reserve, there has been a recent increase in fraudulent payment activity in the FedACH® network. Unauthorized debits, including consumer bill payments and other larger dollar items possibly including ACH direct deposits for payroll, have been originated using Federal Reserve Bank routing transit numbers as the receiving institution. These debits have been returned through the normal ACH return process, using a “R03 – No Account/Unable to Locate Account” return reason code. ..


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