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Understanding and preventing payment fraud.
Until the last 10 years, the primary exposure of governments to payment fraud was the dishonesty of their own employees. Sophisticated check fraud required special skills and an investment in expensive printing equipment. And since sole responsibility for fraudulent check stock and signatures rested with the banks, losses from external sources were not considered important enough to warrant serious attention.
Times have changed. With the advent and proliferation of inexpensive personal computers, desktop publishing software, laser printers, and blank check stock, almost anyone can alter or counterfeit checks. Indeed, payment fraud has blossomed into a $10 billion ...
- Banks battle against growth of electronic payment fraud.(Finance)
- Magazine article from: Crain's Cleveland Business Kadleck, Chrissy January 17, 2005 700+ words
...the type of e-payment fraud that is on the...While e-payment fraud does not come...of dollars in check fraud, Ms. O'Connor...guard against e-payment fraud is to establish...to do to avoid check fraud being done by...
- PNC Bank Treasury Management Joins Forces With Businesses to Reduce Losses From...
- Press release article from: PR Newswire November 12, 2002 700+ words
...Inc., has enhanced check fraud detection for businesses...positive pay," deters check fraud by comparing a company...come into the bank for payment. Fraud Detection: Minutes...Nashville. Attempted check fraud at the nation's commercial...
- North Dallas Bank Deploys Check Fraud Prevention Technology from ASD and...
- Press release article from: PR Newswire October 9, 2007 700+ words
...implemented the OASIS(TM) check fraud detection platform from...in our fight against payment fraud," said Gregory Niemeyer...prevalent methods of check fraud, including signature...specializing in electronic check fraud prevention solutions...
- Hindsight.(Payment Fraud )(Survey)(Brief article)
- Magazine article from: Risk Management May 1, 2009 700+ words
...since 1999. Source: Insurance Information Institute Rising Payment Fraud Statistics 30% of survey respondents report that incidents...attempted or actual payments fraud in 2008 were victims of check fraud Among organizations that suffered a financial loss resulting...
- Combating check fraud: a multifaceted approach.
- Magazine article from: The FBI Law Enforcement Bulletin Hansen, Walter N. May 1, 1999 700+ words
Check fraud can affect anyone. Almost every business...estimated that the total economic impact of check fraud on financial institutions, private...the experience of bank executives, check fraud represents the most important crime...
- Attempted check fraud exceeds $1 billion, says ABA survey.(Brief Article)
- Magazine article from: ABA Banking Journal February 1, 1999 700+ words
Attempted check fraud at the nation's commercial banks exceeded $1 billion in 1997, according to ABA's latest Check Fraud Survey Report. While attempted check-fraud losses soared past the $1 billion mark, a Federal...
- Old-Fashioned Crime (Check Fraud) Demands Updated, 2-Pronged Strategy.
- Magazine article from: Credit Union Journal September 15, 2003 700+ words
...a two-pronged approach to fighting check fraud -one of the nation's fastest-growing...said technology advances have made check fraud a very easy crime to commit. The pair...risk management practices, and new check-fraud technology. "This is a big deal...
- Check fraud costs local businesses more than $180 million annually
- Magazine article from: Central Penn Business Journal Timmons, Tony July 19, 1996 700+ words
Check fraud costs Las Vegas businesses between...thing a business owner could do to avoid check fraud is to make sure to require identification...The number of people arrested for check fraud is also on the rise. The statistics...
Source: HighBeam Research, Understanding and preventing payment fraud.