Between 2015 and 2016, signature-based debit card fraud rose 63%, PIN-based debit card fraud rose 50%, credit card fraud rose 41% and check fraud
Debit card fraud accounted for 66 percent of industry loss, followed by check fraud
at 32 percent, and online banking and electronic transactions such as wire and ACH at two percent, according to the report.
0, the latest release of the cloud-based law office software, has added support for Positive Pay, a customer authorization system that greatly reduces the instance of check fraud
Demand for secure MICR printing continues to grow as check fraud
persists a reported $11 billion problem that affects financial institutions and businesses of all sizes, said Keith Hamilton, president and CEO of Source Technologies.
Checks continued to be the dominant payment form targeted by fraudsters, with 87 percent of affected organizations reporting check fraud
This investigation highlighted several areas that can help officials recognize stale-dated check fraud
According to The Nilson Report, annual check fraud
losses are up to $20 billion and growing by about 25 percent per year.
is a billion-dollar problem, but several inexpensive tools are available to protect your client against unauthorized check negotiation.
Sophisticated check fraud
required special skills and an investment in expensive printing equipment.
Thanks to a new partnership with SQN Banking Systems[TM], Hyland is now able to offer check fraud
detection technology to financial institutions throughout the Americas.
CPAs ALSO CAN EDUCATE THEIR CLIENTS about theft coming from outside the company in the form of check fraud
, credit card fraud and bust-outs, which are schemes where customers will purposely buy huge amounts of merchandise and run up debts they have no intention of paying.
Morgan Chase which also calls its product Positive Pay(SM), is marketing it chiefly as way to combat check fraud