As you know, I just returned from the ACB convention in Dallas. It was great to meet so many people from all over the country!
One group I spoke with was the Business Enterprise Affiliate. I co-presented with Chris Peterson of Penny Forward.
We spoke about the need for small businesses to be more vigilant with accounting. Here’s my experience…
In my book, “Identity Theft: A Victim’s Search For Justice, I recount how my bank account was raided. He got in using an ACH, which is an Authorized Clearinghouse Check. When I
told police, they never heard of this and assumed I gave him all my money, because he said so. When the police questioned him, he stated I was mentally incapable of handling my
money because I was losing my eyesight, so they let him go.
While this article states to contact the FBI, when I did so, they told me they wouldn’t get involved until the DA arrested the suspect.
Please read the embedded article, and keep it for your records. I copied in its entirety for validation purposes.
You may need to show this to law enforcement one day, and educate them.
Be safe!
Deborah E Joyce
Author of “Identity Theft: A Victim’s Search For Justice – DB 103152, also on BARD.
After you read my book, please give a review!
Podcasts:
1. The Tactile Traveler, #61, with Nick Isenberg.
2. Radio Talk Nebraska, with Cami Cavanaugh.
3. ACB 2024 podcast with Dan Sipple,on scams.
4. ACB 2025 podcast, with Chris Peterson of Penny Forward.
5. ACB 2025 podcast with Chris Prentice, Dallas Prosecutor.
6. Consumer Vision Mag “The Identity Vault” monthly column, with Bob Branco.
ID Theft ACH fraud article:
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Feb 13, 2025
ACH Fraud is on the Rise – Keep Your Business One Step Ahead
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ACH fraud is a type of cybercrime that involves unauthorized transactions using the Automated Clearing House (ACH) network. While ACH transfers are convenient and cost-effective for businesses, that same efficiency makes them a target for scammers.
All a scammer needs is your account number and routing number to initiate ACH transactions — transfers, withdrawals, and payments — as if they were their own account, all without your knowledge. It’s alarmingly simple for scammers to gain unauthorized access to your account. It could begin with a stolen check, a breach of your business’s network, or the installation of malware.
Frequently, criminals begin ACH fraud with a phishing scam. They may target the accounting department or senior executives to trick them into sharing bank account information. It could be a fake email asking to verify account information for a vendor or a phishing website that imitates an online banking portal. If you provide your bank account or login credentials, the fraudster has what they need to funnel money from your account.
Another common method fraudsters use for ACH fraud is Business Email Compromise<https://www.bankofc
Preventing ACH fraud can be challenging. Since businesses have legitimate reasons to share their account information with vendors and others, they need to take precautions to reduce their risk of ACH fraud.
Here are some ways to reduce your organization’s risk:
* Check Your Accounts. Regularly review transactions and set up alerts for ACH activity.
* Enroll in Positive Pay<https://www.bankofcolorado
* Keep up with cybersecurity<https://www.bank
* Enable multifactor authentication. Require additional verification beyond just username and password for all your organization’s sensitive accounts. This can reduce the risk of fraud even if login credentials are compromised.
* Be cautious of unsolicited emails, phone calls, or texts asking for sensitive information, as it may be an imposter scam<https://www.bankofcolorad
* Create protocols for verifying payment changes. Before providing payment information or sending money with new payment details, you should always verify the legitimacy of the request. Train your staff to contact the requester directly using known contact details—preferably with a phone call to a verified contact.
* Train your employees to always follow security procedures.
What to do if you are targeted by ACH fraud?
If you believe you were the victim of ACH fraud, take action immediately.
* Report all unauthorized transactions to the bank. If your checks or debit card are missing or stolen, alert the bank right away.
* Call the police or local law enforcement to report the incident.
* Change all account login credentials and monitor future transactions closely.
* You can also report these crimes to the FBI ic3.gov<https://www.ic3.gov/>.
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