BankerCollege

The most common check fraud are forgeries, fraudulent endorsements, counterfeit checks and remotely created checks. Increased check fraud continues to be an issue with financial institutions regardless of their size and financial institutions continue to struggle with how to effectively handle check fraud claims as a Bank of First Deposit and Paying Bank.  This check fraud webinar will take attendees through what options up to legal action is available for financial institutions.  The speaker will cover 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 check training will also cover the finalized amendments associated with Regulation CC published by Fed and CFPB last year and implemented on July 1, 2020.

Finally, this check 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.

 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 scheduled for July 1, 2020 implementation.

Who Should Attend?

• Compliance Officers/Support Staff
• Deposit Operations
• Electronic Banking
• Treasury Operations/Treasury Sales
• Internal Auditors
• BSA Officers/Support Staff
• Risk Managers 
• Fraud Managers