NACHA Voting Membership Approves International ACH Transactions Ballot
NACHA has announced that its voting membership has approved "an amendment to the NACHA Operating Rules that will require all international payments made via the ACH Network to be identified as International ACH Transactions using a new Standard Entry Class (SEC) Code--IAT. The new Rule will also require that IAT payments include specific data elements defined by the Bank Secrecy Act's (BSA) "Travel Rule (i)." The implementation date of the rule amendment is March 20, 2009."
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