I hope this is not off-topic, but I suggest you visit this article, then
view others on the same topic.
http://krebsonsecurity.com/2011/06/court-passwords-secret-questions-reasonab
le-ebanking-security/
Basically ACH is a magnet for cyber crime.
If you get hit, your company will probably lose all the money you have in
the bank involved (not just one bank account). The courts are ruling
against companies which sue their banks.
Thus your company needs to think through much more loss risk mitigation than
was needed for checks.
One of the companies in the Evansville *BASE user group was hit, lost over
$1 million. Details should probably go off-line, because off-topic for
BPCS. Their weak link was phishing malware installing a keylogger on PC of
person who did all the payable transactions, and other financials.
My employer was also hit, but we recovered everything because the bank had
good guys. In our case, it was not ACH, but our electronic payment of
payroll taxes to state government. I was not in the need-to-know loop of
investigation at my employer, probably because I was pointing finger of
suspicion at state government.
-
Al Mac
Success has many fathers, while failure is an orphan.
-----Original Message-----
From: bpcs-l-bounces@xxxxxxxxxxxx [mailto:bpcs-l-bounces@xxxxxxxxxxxx] On
Behalf Of Rouse, Steve
Sent: Wednesday, June 08, 2011 3:10 PM
To: BPCS ERP System
Subject: [BPCS-L] 6.00.04 A/P Payments other than Checks
We use are on BPCS Version 6.00.04. To date, we have only made our Vendor
Payments using checks.
We would like to explore using ACH payments (we create a file to send to 3rd
party ACH company) if the programming is already in BPCS.
I know we can set up a new vendor type in the Vendor Master such as E for
EDI. We would need the payments to Post in BPCS the same as the current
check run. Does anyone know if this easily attainable in BPCS?
Thanks
Steve
midrange.com
