Magazine : Archives : 2nd Quarter 2023
For Your Review
The Rising Threat of Check Fraud Bank leaders face an ever-evolving threat landscape, but old-fashioned check fraud is growing increasingly concerning to the industry of late. The Financial Crimes Enforcement Network (FinCEN) put out an alert late in February informing financial institutions of a surge in check fraud connected with mail theft. Suspicious Activity Reports related to potential check fraud have been steadily increasing over the past three years, FinCEN said. In 2021, reports concerning possible check fraud totaled more than 350,000, representing a 23% increase from 2020. Last year, those reports nearly doubled at 680,000, according to the agency....
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