The following resource was originally posted and created by Nasdaq Verafin.
Financial institutions are seeing a significant rise in check fraud — fueled by criminals targeting the U.S. postal system, to steal and alter checks. Meanwhile, the complexities of stolen and altered check fraud scams pose challenges for detection and loss prevention.
This concise infographic provides insights into the problem stolen checks pose to financial institutions, modern tactics criminals are using to commit check fraud and why deposit-side risk is so important to detection.
Select the image below or select this link to download the full infographic pdf.
IBT Apps is a proud partner of Nasdaq Verafin, a leading provider of Financial Crime Management Technology solutions for Fraud Detection and Management, AML/CFT Compliance and Management, High-Risk Customer Management, Sanctions Screening and Management, and Information Sharing. More than 2,600 financial institutions, representing over $10T in collective assets, use Nasdaq Verafin to prevent fraud and strengthen AML/CFT efforts.
Nasdaq Verafin combines the power of consortium analytics, machine learning and real-time detection into one holistic solution for improved check fraud prevention with fewer false positives.
Interested in learning more about Nasdaq Verafin’s Check Fraud solution? Visit their webpage or contact them at 1-877-368-9986 for more information.
