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Article: Attempted check fraud increases
- Article from:
- Texas Banking
- Article date:
- January 1, 2005
- Author:
CopyrightCopyright Texas Banker Association Jan 2005. Provided by ProQuest LLC. (Hide copyright information)
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Attempted check fraud at the nation's banks rose to $5.5 billion in 2003, according to the latest American Bankers Association Deposit Account Fraud Survey Report.
While attempted check fraud continued to rise, actual dollar losses remained relatively stable at $677 million, down slightly from the $698 million that banks lost in 2001, the last year of ABA's biennial survey. Banks' check fraud prevention systems were credited with keeping actual losses significantly lower than the attempted fraud numbers. Attempted fraud totaled $4.3 billion in 2001.
While dollar losses decreased, the number of check fraud cases increased 3 percent to 616,469 cases in 2003. However, average losses per case ...