Stay up-to-date with the latest check fraud tactics and deploy measures to protect the safety of your credit union and its members.
In this video sponsored by Advanced Fraud Solutions, VP/Strategic Partnerships Ted Kirk says that despite a lower volume of checks in circulation, checks continue to be the payment method most impacted by fraud.
Kirk also notes that the Association of Financial Professionals has found that 66% of organizations reported fraudulent check being used in an attempted or successful payments fraud scheme. According to the FBI, reported cases of check fraud have resulted in $18 billion in losses over a single year period.
Kirk describes why credit unions need to stay up-to-date with the latest check fraud tactics and offers some measures to deploy to keep safe.
Access a transcript of the audio.