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Article: Check Fraud Help From ABA.
- Article from:
- Bank Technology News
- Article date:
- September 1, 1999
CopyrightCOPYRIGHT 1999 SourceMedia, Inc. 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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The American Bankers Association has a new weapon to help bankers in their ongoing war against check fraud.
ABA data suggests banks lose in excess of $1 billion a year to check fraud artists. Forgeries are by far are the largest category of frauds, accounting for more than 40% of bank check fraud losses, according to ABA figures.
The new Check Fraud Prevention Manual, available at no charge to ABA members, aims to help bankers understand the mechanics of check fraud and to implement fraud prevention programs. For example, one section of the manual ...