High Risk Transactions
Due to the recent increase in check fraud, a refresher training has been initiated to educate tellers to recognize inidicators of check fraud, spot suspicious activity, and ensure accurate completion of high-risk transactions.
How does Check Fraud work?
Criminals use check printing software, scanners, desktop publishing, and even color copiers to manufacture counterfeit checks. Some still do it the old fashioned way by stealing legitimate checks that have already been issued and washing the Payee information off to add their own info.
Chemically sensitive paper is designed to reveal attempts to alter legitmate checks with eradicator chemicals.
Watermarks cannot be reproduced by making a color photocopy
A Security Screen on the back of a check contains the words "original document" that will fade if copied.
Be sure to Analyze Checks carefully!
Click the information icons to learn more.
Essential Infographic Template
Contextualize your topic with a subtitle
Include infographics in your creations
You can use the photograph, gif or illustration you want to spice up the multimedia content.
'Including quotes always strengthens our presentation. It breaks the monotony.'
'Use this space to write a quote. And remember: always mention the author.'
Always cite the author
Author's name
ODP, NSF, Returned Items
VOD
Account History Research
Depth of Relationship
Security Features On Checks
Check manufacturers help to deter check fraud by making checks difficult to
counterfeit by making a photocopy of a real check or by chemical alteration.
Tellers should be familiar with the following common check security features so
they can verify the authenticity of checks received.
Transaction History Research
Transaction History Research is REQUIRED!
Complete an advanced search to review all deposit history.
If the check presented is consistent (similar amounts and frequency) with the check deposit history this criteria is met.
Here you can puta standout title
We capture visual content better. Visual content is associated with cognitive and psychological mechanisms. Things enter through the eyes, the first image is what matters. We associate visual content with emotions.
VOD
Verification of Deposit (VOD) is REQUIRED!
Run VOD to obtain the 60-day average balance.
If the average balance is equal to or greater than the amount of the check this criteria is met. If not, the appropriate hold must be placed.
Depth of Relationship
Review all consumer memberships with the payee as an account owner.
If the payee has any of the following the criteria has been met:
Other memberships open for at least one year
Loans, credit cards, mortgages (excluding Workout Loans), CD
Active Checking or Money Market Account- at least 6 transactions a month
ODP, NSF, Returned Items
Review the share record for Year to Date (YTD) NSF and ODP usage to determine the average per month. If the average per month is less than 5 fees the criteria has been met.
Review Imaging, under Shares, for Returned Items. If there are no returned items in the last 6 months this criteria is met. If there are returned items in the last 6 months, review the image and if the maker on the returned item is not the same as the check being presented this criteria is met.
High Risk Transactions
Brandee Kirkman
Created on March 5, 2024
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Transcript
High Risk Transactions
Due to the recent increase in check fraud, a refresher training has been initiated to educate tellers to recognize inidicators of check fraud, spot suspicious activity, and ensure accurate completion of high-risk transactions.
How does Check Fraud work?
Criminals use check printing software, scanners, desktop publishing, and even color copiers to manufacture counterfeit checks. Some still do it the old fashioned way by stealing legitimate checks that have already been issued and washing the Payee information off to add their own info.
Chemically sensitive paper is designed to reveal attempts to alter legitmate checks with eradicator chemicals.
Watermarks cannot be reproduced by making a color photocopy
A Security Screen on the back of a check contains the words "original document" that will fade if copied.
Be sure to Analyze Checks carefully!
Click the information icons to learn more.
Essential Infographic Template
Contextualize your topic with a subtitle
Include infographics in your creations
You can use the photograph, gif or illustration you want to spice up the multimedia content.
'Including quotes always strengthens our presentation. It breaks the monotony.'
'Use this space to write a quote. And remember: always mention the author.'
Always cite the author
Author's name
ODP, NSF, Returned Items
VOD
Account History Research
Depth of Relationship
Security Features On Checks
Check manufacturers help to deter check fraud by making checks difficult to counterfeit by making a photocopy of a real check or by chemical alteration. Tellers should be familiar with the following common check security features so they can verify the authenticity of checks received.
Transaction History Research
Transaction History Research is REQUIRED! Complete an advanced search to review all deposit history. If the check presented is consistent (similar amounts and frequency) with the check deposit history this criteria is met.
Here you can puta standout title
We capture visual content better. Visual content is associated with cognitive and psychological mechanisms. Things enter through the eyes, the first image is what matters. We associate visual content with emotions.
VOD
Verification of Deposit (VOD) is REQUIRED! Run VOD to obtain the 60-day average balance. If the average balance is equal to or greater than the amount of the check this criteria is met. If not, the appropriate hold must be placed.
Depth of Relationship
Review all consumer memberships with the payee as an account owner. If the payee has any of the following the criteria has been met: Other memberships open for at least one year Loans, credit cards, mortgages (excluding Workout Loans), CD Active Checking or Money Market Account- at least 6 transactions a month
ODP, NSF, Returned Items
Review the share record for Year to Date (YTD) NSF and ODP usage to determine the average per month. If the average per month is less than 5 fees the criteria has been met. Review Imaging, under Shares, for Returned Items. If there are no returned items in the last 6 months this criteria is met. If there are returned items in the last 6 months, review the image and if the maker on the returned item is not the same as the check being presented this criteria is met.