This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
08/05/2019
What Check Fraud Can Teach Banks About Preparing For The Instant Payments Future
PYMNTS.com
If there was a handbook for how to become a successful fraudster, the first sentence of the first chapter would go something like this: “Go where the money is.”
Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud, the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living.
But it’s an outlier that, according to the FBI, has racked up more than $18 billion in losses last year in the U.S. and has hit about 70 percent of all organizations in the country.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more informationResources
Your electronic library to help in fighting financial fraud for all of our partners.
more information