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This Ain’t Your Grandpappy’s Payment Fraud - Part 2

Check Fraud, Mobile Banking Fraud, and Positive Pay

Reviewed

February, 2024

Greg Litster

Learning Objectives

To Identify various methods of check fraud, both new technologies and old-school systems.
To recognize various strategies for preventing and protecting against various types of check fraud, including Mobile Banking Fraud and eChecks.
To recognize the importance of legal liabilities for fraud losses and viable alternatives for shifting those liabilities.

Course Description

Payment fraud is an expanding global threat, especially during Covid-19, and check fraud continues to be the primary method of choice used by fraudsters committing payment fraud. Despite predictions of their demise 45 years ago, paper checks are still used by most companies (including a vast majority of small businesses)…AND fraudsters! Checks are now targeted in 70% of BEC scams, up nearly 100 percent since last year. This is a clear integration of social engineering, technology, and old-school payment systems.

Payment methods now integrate old-school paper checks and new technology, with Mobile Remote Deposit Capture (mRDC) and eChecks. With these new technologies comes new fraud threats. This presentation, “This Ain’t Your Grandpappy’s Payment Fraud” Part 2 will discuss every variety of check fraud. It will include an in-depth discussion of Holder In Due Course, the Check 21 Indemnity Provision and Warranties, and how to recoup losses on mRDC double presentments.

Fraud may shift between payment methods, but it's not going away, and its scope is expanding astronomically. Greg will share real-life fraud situations, including what went wrong and how the losses could have been prevented.

Attendees of this free CPE webinar will be able to:

Identify various methods of check fraud, both new technologies and old-school systems.
Establish proven strategies for preventing and protecting against various types of check fraud, including Mobile Banking Fraud and eChecks.
Understand legal liabilities for fraud losses and viable alternatives for shifting those liabilities.

Overview

Mobile Banking Fraud - The New Twist on Check Fraud

2 mins
Warranty Claims

13 mins
Which is Safer? Checks vs ACH Wire

23 mins
Uncontrolled Checks

33 mins
ACH Filters and Blocks

42 mins

Webinar Qualifies For

1 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
1 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
1 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
1 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
1 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
1 CPD Credit of Auditing for Certified Financial Forensics (CFF)
1 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
1 CE Credit of Detect and mitigate fraud for Certified Treasury Professional (CTP)
1 CPE Credit of Auditing for Master Analyst In Financial Forensics (MAFF)
1 CPE Credit for Certified Internal Controls Auditor (CICA)
1 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
1 CPE Credit of Auditing for Iowa Licensed Public Accountant (IA-LPA)
1 CPE Credit of Auditing for Maine Licensed Public Accountant (ME-LPA)
1 CPE Credit of Auditing for Delaware Licensed Public Accountant (DE-LPA)
1 CPE Credit for Certified Controls Specialist (CCS)

About Instructor

Greg Litster

President, SAFEchecks: Abagnale Superbuisness Check

Greg Litster is president and founder of SAFEChecks, and is editor of Frank Abagnale’s Fraud Bulletin. Greg is a former banker of 18 years, has written articles published in AFP Exchange, American Payroll Association, American Land Title Association, and Sheshunoff’s Corporate Cash Management Manual. He has served as an expert witness on several national and international check fraud and embezzlement cases, and has spoken on fraud prevention across the country for numerous financial institutions and professional organizations, including AFP, GFOA, Texpo, SoCal Expo. Greg earned a Bachelor of Science in Economics and an MBA in Finance, both from Brigham Young University.

Additional Information

Duration

1 Hour

Course Level

Basic

Instructional Method

QAS Self Study

Pre-requisites

None

Advance Preparation

None

FAQ’s

Click Here to View

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

4.6

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Poor

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Jeff Easton, CPA (US)

Of all the webinar's this is the most comprehensive. The instructor was informative and entertaining. I like the real life examples. I would recommend this webinar to anyone that needed information in the check area. I was fantastic.

Marlee Candell, CPA (US)

There was a LOT of relevant information. I had to pause the presentation a lot to make notes. For that reason, I'm glad it was not live.

Paul Skipski, Accountant/Bookkeeper/Tax Professionals

Thank you for sharing. Suggest that links be provided in plain text vs just in presentation to allow for copy and past.

Brian Shade, CPA (US)

I finished both parts on this subject and was impressed with the depth of knowledge the presenter had. highly recommend

Emily Albertelli, CPA (US)

I enjoy this presenter, and the material is interesting and very clear. Lots of real life examples

1 Credit

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This Ain’t Your Grandpappy’s Payment Fraud - Part 2

Course Details

Learning Objectives

Course Description

Overview

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Greg Litster

Other Details

Additional Information

1 Hour

Basic

QAS Self Study

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.6

Jeff Easton, CPA (US)

Marlee Candell, CPA (US)

Paul Skipski, Accountant/Bookkeeper/Tax Professionals

Brian Shade, CPA (US)

Emily Albertelli, CPA (US)

Subject Area

Unlimited Access Plan

Inclusions

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