Faisal KhanAnswered Jul 2, 2016Check fraud is a huge business, by some estimates over $800+ Million.
The onus of the check fraud will fall onto the account holder, or the bank. Banks have so many disclaimers and CYA policies that it usually ends up on the account holder's desk, unless they fight for it.
RDC (Remote Deposit Capture) is no exception to this fraud menace. If proper controls are exercised, the risk can be minimized but not eliminated.
Two worthy articles to read are:
The onus of the check fraud will fall onto the account holder, or the bank. Banks have so many disclaimers and CYA policies that it usually ends up on the account holder's desk, unless they fight for it.
RDC (Remote Deposit Capture) is no exception to this fraud menace. If proper controls are exercised, the risk can be minimized but not eliminated.
Two worthy articles to read are:
- New Wrinkle in Remote Deposit Capture: Duplicate Check Presentments
- Page on bankfirststate.com (PDF)