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Article: New Types of Check Fraud Mean Big Losses for Dallas-Area Banks.
- Article from:
- The Dallas Morning News (Dallas, TX)
- Article date:
- July 30, 2002
CopyrightCOPYRIGHT 2002 The Dallas Morning News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Anuradha Raghunathan
Jul. 30--It's so easy to do, yet so hard to detect. And so far this year, it's cost Dallas-area banks an estimated $35.3 million.
Check fraud, which is fast becoming the financial crime of choice, has turned into a nightmare for bankers and law enforcement officials.
Check fraud complaints at the local FBI office have almost tripled in the last few years, going from 461 in 1997 to 1,272 in 2001. And 2002, is shaping up to be even worse with 898 complaints from banks in the Dallas-Fort Worth area since the beginning of this year.
Losses from check fraud at local banks climbed from $13 million in 1997 to $28.8 ...