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Best Practice Advice: Handling Change of Bank Account Requests
Most experts recommend that organizations pay as many vendors as possible using electronic payments, often referred to as ACH payments. And finally, the corporate world in the US is following. Of course, most companies in other parts of the world have been paying their vendors this way for a long time. But that's another story. With this change come a few new issues. One of those is a variant on an old fraud. In the check world, from time to time, companies had to deal with fraudulent requests for changes in the remit-to address. The electronic version, with its own unique twists, is fraudulent requests for changes to bank accounts used for payments. Let's take a look at the issue as well as best, almost best and worst practices for addressing it.

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