Published: November, 2021
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:
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.
President, SAFEchecks: Abagnale Superbuisness Check
provides the most secure business and personal checks in the United States and
Canada. SAFEChecks has never had a check replicated and used in a check
fraud scam. SAFEChecks’ strictly
controlled check stock is designed with Frank Abagnale, and includes numerous
security features and Secure Ordering Procedures. We also offer secure Check
Writing, Positive Pay, and ACH software, which includes Secure Name and Number
Fonts to prevent fraudulent additions or alterations. Our software includes
signature controls, security features, and a unique Payee Positive Pay Barcode
on each check.
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