Staying ahead of check fraud

Decades ago, it seemed like the world was moving away from checks. With new digital payment types emerging, it was widely believed that checks would eventually phase out. But things didn’t happen exactly as anticipated. While check use is certainly on the decline, people still use them — including fraudsters.

Check fraud is making a major resurgence. According to the U.S. Treasury Department, nearly 700,000 cases of possible check fraud were reported in 2023, with billions of dollars in losses.

At TruStage™, our goal is to help prepare credit union employees with knowledge of check fraud schemes, understand how to identify fraudulent checks, and help you improve your ability to manage the risks through check acceptance and check holds.

Additional resources

• Fraudulent U.S. Treasury checks risk overview¹
• Check kiting risk overview¹
• New account fraud risk overview¹
• Accepting checks for deposit¹
• Regulation CC funds availability guide¹
• Check collection & return guidelines risk overview¹
• Business Protection Resource Center check fraud page¹
• Common member scams¹

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