Check fraud continues to plague U.S. financial institutions, says John Sutter. Sutter: Too many institutions continue to rely on outdated check-verification methodology. He says low-tech fraud still seems to cause some of the industry’s greatest headaches. The Federal Deposit Insurance Corp.’s Cyber Fraud and Financial Crimes Section says banks have to balance their efforts to stay ahead of new cybercrimes, while also watching the tried-and-true fraud schemes – namely counterfeit checks and mortgage fraud.”]
Source: https://www.govinfosecurity.com/blogs/outdated-tech-opens-doors-to-fraud-p-659