Despite the increasing adoption of digital payments, check fraud remains a significant challenge for financial institutions. According to FinCEN, check fraud losses in the U.S. totaled $21 billion in 2023, representing nearly 80% of global check fraud losses. The FTC reported that check fraud was high on the list of frauds that cost consumers over $10 billion in 2023. The persistent threat of check fraud has far-reaching consequences for the banking industry. Financial institutions face […]
