Who is liable for check fraud? The person who created, forged, or altered the bad check is liable. But as they are very infrequently caught, the account holder, the drawer bank, or the drawee bank ... Read More »
Recently, in Kansas, two men were arrested after stealing thousands of dollars from victims' debit cards. Pretending to be fraud investigators from the bank, the men convinced victims to give them their debit card numbers, ... Read More »
In 2022, check fraud increased by 84%, and although at the time of writing, the final numbers haven't been released for 2023, analysts expect check fraud incidents to be even higher that year. By October ... Read More »
Check fraud has more than tripled over the last five years—Just between 2018 and 2022, there was over a 200% increase in check fraud incidents. This trend is particularly shocking when you consider that check ... Read More »
Financial institutions need end-to-end fraud strategies. They need processes that detect and prevent fraud. They also need to constantly assess and re-assess their risks and adapt their processes to the current threat landscape. Additionally, they ... Read More »
To be successful, organizations cannot be mired in yesterday's traditions or practices. They must meet the current demands of their customer bases and the current expectations of their industry. Organizational success requires flexibility and adaptability ... Read More »
When you invest in enterprise-level software, you have to think about how the implementation process is going to work. Careful planning ensures that you don't have a gap in service as you switch from your ... Read More »
When fraud strikes at your financial institution, you need to be ready to respond. A prompt and thorough response reduces losses and protects your organization from additional threats. However, your remediation plan shouldn't exclusively focus ... Read More »
To effectively combat fraud at your financial institution, you need to understand the three stages of the bank fraud lifecycle. They include the following: Planning - Gathering intelligence and selecting the target. Launching - Targeting ... Read More »
The past fiscal year presented financial institutions with some of the most significant challenges since the 2008 financial crisis. Most notably, the United States witnessed its second and third-largest bank failures in history within just ... Read More »