Check fraud losses are estimated to exceed $18 billion each year. A recent nationwide counterfeit check operation was projected to have caused over $9 million in losses. With more and more counterfeit checks flooding financial institutions, this number is sure to increase.
Unfortunately, many financial institutions fail to teach front-line staff the fundamentals of avoiding check fraud. Further, when a loss does occur, these institutions don’t understand how the law allocates the loss. If you’re confused about what your financial institution can do to prevent losses, as well as what your legal responsibility might be in various check fraud situations, this seminar is for you. This session will focus on the best practices that can be employed by banks rather than looking at any particular state’s laws.
What You’ll Learn
- Tips for spotting counterfeit, forged, and altered checks
- Procedures to reduce your bank’s exposure to check fraud losses
- Legal responsibility for counterfeit, forged, and altered checks under Uniform Commercial Code, Regulation CC, and other federal regulations
- How laws and regulations allocate losses resulting from remote/mobile deposit capture and similar technology
- Factors to determine whether check fraud victim has legal right to reimbursement
Who Should Attend
Tellers, Teller Supervisors, Customer Service Representatives, New Accounts Personnel, Branch Managers, Security Officers, Fraud Investigators, Fraud Examiners, and Bank Attorneys.