Manual Check Issuance in the Branch Leaves Door Wide-Open for Fraudsters

Question:

Despite a high frequency of proper logging, reviews, and audits in our money order and certified check procedures, we continue to get hit with fraud in our branches. What are we doing wrong?

Answer:

While I can't speak about your situation specifically, all official check fraud occurs because of two things: the availability of high quality duplicate pre-printed checks combined with a significant lag-time from when the fraud occurs to the time it is discovered by the institution. You can beat the fraudsters by increasing the layers and frequency of prevention activity, but at a certain point, the added cost is not worth it.

Vendor:

Source Technologies