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A new survey by the Association for Financial Professionals found that checks and wire transfers continue to be highly impacted by fraud. Because checks contain valuable information to check fraudsters, they remain a popular tool for exploitation by criminals.
Though it can be difficult to eliminate the risk of check fraud, there are ways to reduce or mitigate potential financial losses:
1. Look at your checking account activity every day.
2. Automate account check-ins using alerts for important activity types.
3. Reach out to your bank ASAP if you see an unexpected charge.
Learn more on the Home Bank blog.
–David Luke, SVP | Treasury Management & Commercial Deposit Manager at Home Bank