Spam Campaign Targets Payment Transfer System

A new spam campaign is targeting a financial transfer system that handles trillions of dollars in transactions annually and has proved to be a fertile target of late for online fraudsters. The spam messages pretend to come from the National Automated Clearing House Association (NACHA), a US nonprofit association that oversees the Automated Clearing House system (ACH). ACH is a widely used but aging system used by financial institutions for exchanging details of direct deposits, checks and cash transfers made by businesses and individuals. In 2002, ACH was used for nearly 9 billion [b] transactions worth more than US$24.4 trillion