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ICBA thanked Acting Comptroller of the Currency Michael Hsu for highlighting the formation of ICBA’s Check Fraud Task Force and the Financial Sector Fraud Working Group in a recent speech on financial fraud.
ICBA Letter: In its letter to Hsu, ICBA said community banks are fighting check fraud on the front lines. ICBA also called on Hsu to allocate appropriate resources to ensure bank examiners are holding large banks accountable for account opening and monitoring failures and for ineffectively resolving breach of warranty claims submitted by community banks.
In the Media: In a new CNBC report, ICBA’s Scott Anchin discussed check fraud risks and the continued shift to contactless and digital payments. Anchin recently discussed the challenge of check fraud in a MarketWatch article on Target’s decision to stop accepting personal checks.
How to Contact ICBA: ICBA continues encouraging community bankers to share their experiences and input on the challenge of check fraud at [email protected].
Resources: For information on check fraud, community bankers can:
Download ICBA’s check fraud guide.
Listen to the recent Independent Banker podcast.
Join the fraud subgroup on ICBA Community.
Read Independent Banker’s recent article on mitigation tips and Anchin’s blog post on industry efforts.
Watch the recording of ICBA’s ThinkTECH Solutions Forum on fraud.