Tradecraft 5: Digital Tools for Analog Check Fraud

Key takeaways include: 

• Refresh your knowledge of the basics of check clearing and institutional liability
• How do detection systems work? Check components and how to distinguish legitimate instruments from altered, forged, or counterfeit items
• What happens after a check fraud alert is created? How is the fraud confirmed and stopped? Follow the kill chain from attempted fraud, alerted fraud, investigated fraud, and prevented fraud. What are the gaps and pitfalls in each step?
• Compare and contrast three methods for handling and deciding what to do with in-clearing check alerts (Rule-based, branch outreach, digital outreach)