Stolen, altered check triggers six-figure loss before stop-pay lands A Kansas City case shows how a stolen and altered $881,324 check was deposited and quickly converted to cashier’s checks and cash before a stop-payment reached the bank. Require enhanced KYC for new business accounts with large first deposits. Tighten large-item review and exception holds for … Continued
Fraud isn’t fading. It’s changing shape. And it’s moving fast. Today, community banks and credit unions are managing more channels, faster payments, and smarter fraudsters, often while relying on fraud controls designed for 2010. It’s no surprise that gaps are widening. What used to be a strong defense at the teller line now leaves the … Continued
Quick Headlines Ally Bank targeted via FBI-agent spoof, attempted bank-fraud play Connecticut indictment alleges stolen-check scheme hitting bank accounts OCC releases August enforcement actions with governance signals Loan officer HELOC manipulation case moves toward sentencing Key Stories Ally Bank spoof via fake FBI authority DOJ reports a Texas suspect posed as an FBI agent … Continued
For banks and credit unions, ACH compliance is moving from a back-office requirement to a central piece of risk management. Starting in the third quarter of 2025, Nacha will dramatically expand its proof-of-audit program. Instead of checking a small sample of institutions each quarter, Nacha will ask more than a thousand banks, credit unions, and … Continued
HIGH POINT, NC and PLANO, TX — Advanced Fraud Solutions (AFS) and Aptys Solutions, the forefront provider of cloud-based payment technologies, announced a strategic partnership set to elevate fraud prevention and payment security across a network serving over 5,500 financial institutions. Jordan Bothwell, VP of Partnerships at Advanced Fraud Solutions, highlighted the potential impact of … Continued
Financial institution stakeholders know that electronic payment volumes are surging with no end in sight. Financial institutions (FIs) and their business clients also face increasing threats from ACH fraud, because wherever the money goes, scammers follow. ACH transactions—processed through the Automated Clearing House (ACH) network—provide a convenient way to move funds electronically, but without the … Continued
Discover how Positive Pay helps financial institutions and businesses prevent check and ACH fraud. This comprehensive guide explains how Positive Pay works, types of coverage (including ACH and Payee Positive Pay), and implementation best practices for banks and treasury teams.
Deposit fraud is an ever-present threat, every year draining billions from unsuspecting account holders—and financial institutions. Your financial institution stands on the frontline of banking fraud detection, potentially next in line to bear the brunt of these losses. But it doesn’t have to be this way. In this guide, we’ve broken down the key insights … Continued
Pop culture figure Andy Cohen shared a harrowing experience on the Today Show, opening up about falling victim to a sophisticated scam. His ordeal serves as a painful reminder that fraudsters are constantly evolving their tactics, and no one is safe. How the fraud unfolded Cohen’s troubles began when he lost his bank card, a … Continued
In today’s digital age, money isn’t just paper and coins; it’s ones and zeros flying across the Automated Clearing House (ACH) Network. If you’ve ever paid a bill or received a direct deposit, you’ve dipped your toes into this financial stream. But here’s the catch – where there’s digital money, there are digital criminals. ACH … Continued
