Trends & Research

Trends & Research

Access the power of data and objective insight. Data from various sources, including NEACH surveys and member interviews, is compiled and made available as white papers, case studies, articles, benchmarking, and industry reports to provide a snapshot of both the current and future payments landscape. 

Published on Monday, January 24, 2022

Prepare now for a busy year of BSA/AML/CFT changes

NEACH's 2022 Industry Update is just around the corner! Check out the upcoming Nacha Operating Rules that will be addressed:

- March 18, 2022: Dollar Limit of Same Day ACH Increases to $1 Million
- March 19, 2022: ACH WEB Debit Account Validation Rule (Becomes enforceable)
- June 30, 2022: Account Information Security Requirements (Phase 2)
- Sept 30, 2022: Third-Party Sender Roles and Responsibilities

But wait, there's more! 

Two years ago, we heard an overwhelming request to expand the Industry Update beyond just ACH Rules; last year was tough since there were so many new ACH Rules going into effect. This year, while there are still some lingering 2021 ACH Rules questions we will address, and a handful of new ACH rules to incorporate in 2022, we have some room to expand into other payments areas our members need to prepare for.

We pulled top questions from recent webinars and member calls to create an Industry Overview. From highlighting significant AML/CFT changes in 2021 and anticipated 2022 requirements, to a recent OFAC violations case, we're exposing a variety of compliance issues every institution can use to create an action plan.

In 2021, FinCEN issued multiple advisories covering proposed new rules, RFCs to collect information on modernizing BSA, and even announcements of multi-million dollar fines assessed for non-compliance with BSA/AML/CFT. FinCEN, Regulators and even the Department of Justice are examining institutions using a risk-based perspective; these changes affect all areas of payments and accounts.  We anticipate an even busier year of BSA/AML/CFT changes in 2022 so we are providing attendees with valuable resources to ensure you are in-the-know in this quickly evolving environment.

We'll wrap up this new addition to the Industry Update with a review of what's up with faster payments, meet CHUCK™, and review the implications of the Department of Justice's priorities.

The 2022 Industry Update is the perfect start to every year, and this year, we're bringing even more value, exploring a variety of important topics to help generate internal conversations so you are prepared for the year. Oh, and attendees will leave with 3 valuable take-away resources!

 

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