Thursday, June 13, 2024

ABA: Banks can’t fight check fraud alone

American Bankers Association SVP Paul Brenda relayed to CNBC how check fraud is one of the oldest scams in finance but it is still one of the most pressing.

“Banks reported nearly 250,00 cases of check fraud nationwide in 2021,” cited by CNBC. Brenda reported the source of the issue as the inadequacies of the Postal Service to protect the mail.

Read more here.