Fraud Prevention: Challenges and Resolutions
Checks remain a primary means of fulfilling financial obligations. Technological advances coupled with increased availability at decreased costs have enabled criminals to engage in illegal and/or deceptive practices that include signature forgery, counterfeit checks and physical alteration of paper checks. However, organizations can benefit from a variety of efficient fraud prevention solutions that are cost effective for both large banks and smaller organizations.
Since check fraud results in huge losses, there is the increasing the need to pursue improved check fraud detection methods, including signature verification, check stock verification, courtesy amount/ legal amount (CAR/LAR) mismatch detection, and payee match positive pay. This white paper focuses on Fraud Prevention for checks and signatures delving into the challenges and the resolutions.
Organizations can now benefit from a variety of efficient fraud prevention solutions that are cost effective for both large banks and smaller organizations. Find out how to enable comprehensive compliance and fraud prevention within your banking applications for check payments and other transactions with automation that leverages machine learning in this strategic white paper, Check and Signature Fraud Prevention: Challenges and Solutions.