Event Information
After a period of decline, check fraud has exploded in the last few years, thanks in large part to the stolen-mail problem. Credit unions are reporting a significant increase in fraudulent checks clearing member accounts as well as fraudulent checks deposited at credit unions.
Presented by Ken Otsuka, Senior Consultant with TruStage’s Risk & Compliance Solutions, this session will provide an overview of fraudulent deposit schemes, the role money mules play, and risk mitigation strategies. It will also cover how credit unions can recover losses from members’ altered checks by pursuing breach of presentment warranty claims against the institutions that accept them. Otsuka will then wrap up with an overview of check kiting, including a case study.