Check fraud continues to be one of the banking industry’s greatest pain points. Federal authorities in California arrested 14 of the 15 individuals charged for roles in the check-kiting and account bust-out scheme. The defendants allegedly defrauded top-tier institutions, including Bank of America, JPMorgan Chase, U.S. Bank and Wells Fargo. Experts say check fraud is still a leading concern for the industry, but banks have failed to make adequate investments in solutions designed to curb these types of schemes.”]
Source: https://www.bankinfosecurity.com/banks-struggle-to-fight-check-fraud-a-6851