ABA Launches “Practice Safe Checks” Campaign
- Check fraud continues to climb
- Fraudsters are finding their "job" easier and easier
- Practice Safe Checks aims to help banks educate their consumers
The American Banker's Association announced via LinkedIn that, in recognition of Cybersecurity Awareness Month, they are launching Practice Safe Checks, a new campaign that equips banks with tools to illustrate for their customers ways to protect themselves against the growing threat of check fraud.
As many fraud professionals can attest, banking and payment associations across the country have been focusing on check fraud and hosting a variety of sessions at their events and webinars. While sharing information is important for #FraudFighters, many times banks are not doing enough to educate their customers.
Campaign to Educate Society
To get the message to customers, American Bankers Association member banks can sign up to take part in the campaign. This provides the participating bank a plethora of useful content to leverage, including the Practice Safe Checks site (www.practicesafechecks.com) and these entertaining videos:
All For Naught without Check Fraud Detection Technology
Hats off to the American Banker's Association for creating an entertaining way to pass along important information to consumers! However, if financial institutions are not deploying the latest check fraud detection technologies, this impressive effort will not bring the results they are looking for.
In order for the industry to curb check fraud, education and action need to occur simultaneously -- with customers aware of the dangers of check fraud and remaining vigilant, while financial institutions are analyzing accounts and check transactions, including the image of checks with forensic AI.
In addition, OrboGraph recommends that fraud professionals educate themselves by acquiring certifications in fraud such as AML and Fraud from ABA -- both of which James Bi, Marketing Manager and Fraud Detection Specialist, and Peter Shortino, Implementation Engineer, have completed successfully.
Remember, knowledge is power!