How to Stop Check Fraud at the Paying Bank

How to Stop Check Fraud at the Paying Bank

It’s no secret that check fraud is an issue plaguing the banking industry. Since the release of the 2019 ABA Deposit Account Fraud Survey, we’ve seen what appears to be a 3X spike in fraud attempts -- exacerbated by the COVID-19 pandemic. Couple that with prevention rates which many times fall significantly under 90% and you have a combination that is not sustainable for the financial industry.

Various credible sources have reported on this, including:

  • Exploration of Check Fraud in 2020: Significant increase in On-us check fraud attempts and modest to-significant increase for deposit check fraud attempts from 2018 to 2020.
  • The 2022 NICE Actimize Fraud Insights Report: attempted fraud dollar value for checks increased 106% in 2021.
  • 2021 AFP® Payments Fraud and Control Report: checks and ACH debits were the payment methods most impacted by fraud activity (66 percent and 37 percent, respectively) in 2021.

The blog post provides banks with an overview of the following topics:

  • The Difference Between On-us and Deposit Fraud
  • Two New Major Entry Points: mRDC and ATM Deposits
  • Required Technologies at the Paying Bank


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