Advances in technology have opened the door for more types of financial fraud, but check fraud is still a major concern. Scammers will do whatever they can to get information from consumers, but there are several things financial services organizations can do to mitigate damage from check fraud or prevent it entirely.

Many organizations have a comprehensive set of policies outlining what an organization will do if they encounter check fraud, but to really be effective at preventing it, they need detailed procedures that outline how they will do it. ProSight has compiled a list of several procedures organizations should have in place to maximize their chances of preventing check fraud.

• Establishing Check Verification Systems

• Enhanced Authentication Protocols

• Employee Training

• Internal Controls

• Customer Education and Alerts