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 The post AFS Fraud Insights: Check and ACH cases to study this week appeared first on Advanced Fraud Solutions.| Advanced Fraud Solutions
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 The post AFS to Present at Wespay: Why Layered Defense Isn’t Optional Anymore appeared first on Advanced Fraud Solutions.| Advanced Fraud Solutions
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 The post Fraud insights: Ally Bank spoof, OCC enforcement, and HELOC fraud appeared first on Advanced ...| Advanced Fraud Solutions
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 The post Nacha Audit Expansion Raises the Stakes for ACH Compliance appeared first on Advanced Fraud Solutions.| Advanced Fraud Solutions
Discover the best fraud detection software in our 2024 guide. Master deposit fraud detection for your bank or credit union.| Advanced Fraud Solutions
Advanced Fraud Solutions and Aptys partner to offer next getn ACH protection. Prevent and defend against ACH fraud.| Advanced Fraud Solutions