Reserve Bank tightens measures against debit order fraud
From 1 May all stakeholders making use of early debit orders must process payments through DebiCheck (Getty) The Reserve Bank says all new and renegotiated early debit orders will have to go through the Authenticated Collections/DebiCheck project. The project was first launched in August 2018, partly to mitigate against debit order fraud. Existing systems known as Authenticated Early Debit Order and Non-Authenticated Early Debit Order will be discontinued in the latter part of the year. From May 2021, all new and renegotiated early debit order...
Source: news24.com