BankerCollege

Increased check fraud continues to be an issue with financial institutions regardless of size. Banks and CUs alike continue to struggle with how to effectively handle check fraud claims.  Common check fraud activities include forgeries, fraudulent endorsements, counterfeit checks and remotely created checks.  

This check webinar will cover each type of check fraud, take attendees through the return requirements and the adjustment process under the Federal Reserve Bank Operating Circular and Electronic Check Clearing House Organization (ECCHO) Rules, and provide clarity on the warranties and liabilities of the Bank of Deposit and Paying Bank.  This webinar will also provide the financial institution with the most effective tools and methods used to mitigate your risks associated with check fraud events and how to effectively work through check fraud from identification to recovery.

NOTE! As part of this important and timely check webinar, it will also cover the finalized amendments associated with Regulation CC published by Fed and CFPB last year and the 2020 implementation.

Topics discussed:

• Review of Types of Check Fraud (Forged Endorsements. Altered Checks, Counterfeit Checks and Remotely Created Checks)
• Return deadlines and requirements
• Adjustment requirements
• Paying Bank warranties and liabilities
• Bank of First Deposit warranties and liabilities
• Applicable legal requirements (Operating Circular 3, UCC, ECCHO Rules and Regulation CC)
• Effective Check fraud mitigation tools and suggested procedures
• Adjustments to Regulation CC, Subpart B finalized in 2019 and 2020 implementation.