HENDERSON, Nev.–– Bluepoint has released a new white paper, Cheating With Checks: An Update on the Changing Check Fraudscape.
"Because check volumes continue to drop, financial institutions may be inclined to cross this off their 'to do' lists," according to Bluepoint CEO Hal Tilbury, "but with dollar losses still near three-quarters of a billion dollars a year, affecting about 90% of all financial institutions, this would be both premature and perilous."
The new white paper pulls together the latest research findings from the Federal Reserve, the ABA, Celent, J.P. Morgan and other industry leaders, and reviews the latest technologies designed to prevent check fraud, including the use of shared data and the consolidation of multiple vendors and systems into a seamless solution across multiple capture points, including mobile deposit, the company said.