Check Frauds And Scams

Qty: On-Demand ($419.00)

Course Summary:

While the number of checks has decreased, check fraud has exponentially increased. In February, FinCEN issued an alert indicating that there were 680,000 cases of possible check fraud reported last year, up from 350,000 in 2021, which itself was a 23% increase over reports in 2020.

Course Details:

Because FinCEN sees no indication that check fraud is going to subside anytime soon, the agency cautioned financial institutions to be vigilant and, along with the United States Postal Inspection Service (USPIS), warned that the main source of stolen checks is the U.S. mail.

During this webinar, we will look at all the different check fraud schemes and how to prevent them. Plus, we will cover who takes the loss on different types of fraud for your back-office staff.What You'll Learn:

• Remember the common components of a check
  
• Handle account holders who present counterfeit items
  
• Distinguish between recover rights on alterations, fraudulent items, and forged endorsements
  
• Use Regulation CC Holds and other tools to prevent loss
  
• Identify check washing, cash back scams, fraudulent items, check kiting, and other types of check fraud
  
• Listen to what your account holder is saying to determine if check is legitimate