Thru October, depository institutions (mainly banks) filed 440,000 suspicious activity reports (SARs) related to check fraud according to the Financial Crimes Enforcement Network or FINCEN. Last year, for the same period, that number was 420,000. This puts us on track for 500,000 reports for the year, which is double the number from 2021. To help […]
Continue reading → [DISPLAY_ACURAX_ICONS]If You Think the Chinese Balloon Incident is a Major Wake-up call … China has been spying on the US for decades. And we have been spying on them. Kind of like Spy vs. Spy in Mad Magazine when we were kids. If you think that the balloon gave China important information – above the […]
Continue reading → [DISPLAY_ACURAX_ICONS]I received a letter from a high end accounting firm in New York today warning their clients that check fraud has “increased significantly” and has become “a more prevalent issue”. They recommend that you review bank transactions daily confirming the correct payee and amount. The problem with that strategy is that check images are typically […]
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