LexisNexis ( October 19, 2017, 12:59 PM EDT) -- As reported in prior issues of this newsletter, social engineering often plays a large role in many of the most prevalent forms of payment fraud. NACHA recognized a growing trend of social engineering by which fraudsters manipulate public-sector employees to redirect legitimate vendor payments to accounts under the control of the fraudsters. The fact that public-sector entities often must make their contracts a matter of public record appears to make them a favorite target of the fraudsters. In response, NACHA released its ACH Operations Bulletin #1-2017 in early 2017 to provide relevant information to participating depository financial institutions and their business customers regarding these scams....