Posted by Anthony Demangone
Specifically, the Mobile ACH Payments Rule incorporates mobile ACH debits into the existing category of Internet-Initiated Entries (WEB). This Rule requires that mobile payments use the WEB Standard Entry Class (SEC) Code. In particular, the Mobile ACH Payments Rule:
- Expands the definition of WEB entries to include debit entries authorized and/or initiated via wireless networks
- Applies all provisions of the WEB SEC Code to mobile debit entries
- Revises the definition of Unsecured Electronic Network to include wireless networks and provides additional clarification to the industry
FinCEN has released the latest issue of SAR Activity Review: By the Numbers. Stop the presses, but SAR filings dropped in 2009. Check out the guidance, as it is chock full of great numbers and statistics.
I'm at the beach next week, where I plan to get sunburned and watch Kate and Briggs eat sand. (And to be yelled out for getting sunburned.) Have a good weekend, everyone!