Check Fraud: A Practical Guide to Altered, Forged, and Counterfeit Checks for Community Bankers

ICBA has launched a new resource to help community banks combat check fraud—an important step in ongoing efforts to address this growing problem.

New Guide: “Check Fraud: A Practical Guide to Altered, Forged, and Counterfeit Checks for Community Bankers” is designed to help ICBA-member community banks address check fraud, recover funds, and reduce losses.

 ICBA Task Force: This guide complements the work being done by ICBA’s Check Fraud Task Force. The task force comprises community bankers and state association representatives who are working tirelessly alongside ICBA staff to develop resources that will support community banks amid the check fraud surge. I applaud their ongoing efforts to take on a problem that is plaguing community banks from coast to coast.

Reimbursement Issues: ICBA takes the growth of check fraud—and the problems community banks face in receiving reimbursements from banks of first deposit—very seriously. As we told the Senate Banking Committee at a hearing earlier this year, the lack of responsiveness from large banks and credit unions of first deposit only threatens to make this problem worse.

 How to Contact ICBA: We will continue to highlight the lack of responsiveness from large institutions and encourage community bankers to email ICBA with examples of lagging reimbursements at checkfraud@icba.org.

Looking Ahead: Given the pervasiveness and gravity of this issue, ICBA also will continue working to develop and distribute additional check fraud resources for community bankers. Meanwhile, we encourage community bankers to take advantage of:

• The new Fraud subgroup on the ICBA Community online platform.
• Educational resources such as our on-demand webinars on check fraud and Treasury check fraud.
• ICBA’s Solutions Directory to identify payments, compliance, and security service providers dedicated to community banks, including ICBA ThinkTECH Accelerator program alums.

Thank you to all those who are battling this issue on the front lines on behalf of your customers and local communities.