New Contest Encourages the Public to take a Stand Against Scammers

Nacha’s Payments Innovation Alliance, a membership program bringing together diverse global stakeholders seeking to transform the payments industry, is accepting submissions for its new Spotlight! Payments Video Challenge. Adults can win up to $6,500 for making a video that is 60 seconds or less that fits within this year’s theme, Stand Against Scammers.

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Federal Trade Commission data show that consumers reported losing more than $10 billion to fraud in 2023, a 14% increase over reported losses in 2022. The Spotlight! Payments Video Challenge encourages the public to showcase their creativity and use their video skills to inform others about avoiding financial scams.

“Education and awareness are essential for individuals to safeguard themselves against financial scams,” said Jane Wallace, Principal, Wallace Consulting and co-lead of the Payments Innovation Alliance Cybersecurity & Payments AI Project Team. “This video contest — with $10,000 in prize money — allows everyday people to use their own words and experiences to help educate the public and take a stand against scammers.”

Videos will be judged on their quality, message, content and the criteria detailed in the contest’s official rules. Visit https://www.nacha.org/s/spotlight-payments-video-challenge/ to enter and to see a copy of the official rules. Entries are due Nov. 12, 2024. To learn more about the Alliance, visit https://www.nacha.org/payments-innovation-alliance.

The Spotlight! Payments Video Challenge is presented by the Center for Payments, Chase, FICO and the Independent Community Bankers of America.

About Nacha

Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. There were 31.5 billion ACH Network payments made in 2023, valued at $80.1 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.

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