NACHA Operations Bulletin #3-2017
Misuse of Routing Numbers on Social Media
Executive Summary: Misinformation is circulating on various social media platforms falsely claiming that consumers can use certain routing numbers and their Social Security Numbers (SSNs) to access funds held in supposedly “secret accounts” at the Federal Reserve, U.S. Government agencies or a small number of financial institutions. Some consumers are putting themselves in financial and legal jeopardy by following this advice and attempting to authorize charges against non-existent accounts.
This ACH Operation Bulletin provides guidance to ODFIs, their Originators, and RDFIs on actions that can be taken or considered to mitigate the impact of invalid payments being attempted as a result of these ongoing social media posts.