Preventing Fraud at the Frontline
TrueChecks® proactively identifies the following counterfeits at the teller window:
- Counterfeit Checks
- Counterfeit Money Orders
- Counterfeit Cashier Checks
- Counterfeit Travelers Checks
- Counterfeit Postal Orders
- Counterfeit Lottery & Mystery Shopper Checks
- Counterfeit rings
TrueChecks® instantaneously analyzes, identifies and issues alerts to provide frontline personnel with the following real-time information:
- National and Regional counterfeit check and money order information
- National and Regional Fraudulent account information
- Fraudulent routing numbers
- Industry counterfeit alert information
- Names of fraudulent people and businesses
TrueChecks® is constantly analyzing data to alert frontline personnel.
TrueChecks® in action
TrueChecks® at Kemba Financial
In July 2009, Kemba Financial Credit Union installed TrueChecks® at each one of their teller windows. TrueChecks® began issuing alerts, providing information that identified counterfeits at the teller window.
Kemba's Director of Branch Operations stated, "TrueChecks has been an incredible addition to our resources to catch fraudulent checks. We took our time on installing it to make sure that we had all of the proper training in place so we didn't start using it actively until mid July 2009. In a month's time we have saved KEMBA Financial Credit Union over $14k in losses from fraudulent checks that this system has caught.
Tracy added, "The feature with TrueChecks that compensates for what can't be done through other systems is TrueChecks can support Cashiers Checks, Money Orders, Official Checks, Travelers Checks and Postal Money Orders. This has been such a huge help in identifying more fraudulent checks."
"The team at Advanced Fraud Solutions is one of the best support teams out there. They are always available to help. They will report checks for you to make sure the word is spread throughout their database quickly and thoroughly. They check in with you periodically to make sure you are comfortable with everything and if there is anything they can do to help.
"We have already seen a return on our investment that has pretty much paid for the first two years and again, We are extremely happy with this product and would recommend it to others in a heartbeat."
TrueChecks® provides these advantages
- Identifies counterfeit demand drafts proactively at the teller window
- Pinpoints counterfeit route, account, and institution information
- Provides compliance with Reg CC extended hold requirements
- Protects you with a SAS 70 Type II Compliant hosted solution
- Available on a monthly subscription basis
- Leverages your existing infrastruture, avoiding upfront costs
- Deploys Rapidly, typically installed overnight
- Offers a cost benefit analysis that is typically measured in weeks
- Integrates seamlessly with existing frontline workflow
- Provides ongoing 1-800 technical and training support