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Dangers of Floating Checks
Floating a check may seem harmless; after all, check floaters may know they will have the money in their account within a couple of days. They may think that their actions can't hurt anything. Although ... Read More »
Check Fraud Detection and Prevention
A 2018 study conducted by American Bank and SourceMedia Research reveals that the majority of senior level executives from banks, credit unions, and other financial institutions report that they are more worried about fraud now ... Read More »
Check Fraud Penalties
Check fraud can take several different forms and lead steep financial losses. In some cases, a thief may forge a check for a couple hundred dollars, or they may spearhead check kiting schemes worth millions ... Read More »
History of Check Fraud
As long as there have been checks, there has been check fraud. Fraudsters have forged checks, impersonated account holders to cash checks, stolen checks, tricked people into giving them checks, and committed countless other types ... Read More »
6 Infamous Check Fraud Scandals
Although check use is down, check fraud is up by about 12%. Check fraud can include nearly anything from a small floated check to an extensive million-dollar fraud. Keep reading to learn about some of ... Read More »
Re-encoded Cards
In Nashville, authorities apprehended a woman with 40 re-encoded cards. They found a man with 102 re-encoded cards in Chattanooga. In Michigan, two men used re-encoded cards to buy nearly $10,000 in gift certificates. These ... Read More »
Rogue Traders
If your financial institution employs traders, you need to be on the lookout for rogue traders. As you may know, rogue traders act independently, take on risky investments, and tend to have minimal regard for ... Read More »
The Safeguards Rule — An Overview for Bankers
By necessity, companies that offer financial services have to deal with very sensitive information and important data from their customers. Banks and other financial institutions collect data such as birth dates, social security numbers, credit ... Read More »
Prime Bank Instrument Fraud
Over the past few years, people and businesses from around the world have lost billions of dollars in prime bank instrument scams. There are no prime bank instruments, and if someone is trying to entice ... Read More »
Identity Theft Protection Tools You Should Offer Your Clients
According to the Bureau of Justice Statistics, 17.6 million U.S. residents were affected by identity theft in 2014 — the latest statistics available. That's about 7% of all people over the age of 16. There's ... Read More »
