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Use of blank deposit slips in the lobby
Answer by John Burnett, BOL Guru (Guru Bios )
Question: In the recent Bankers Hotline, Volume XIV, Number 11, in the Q and A section, one of the questions was whether the use of blank deposit slips in the lobby is a security risk. The answer was that it's a huge security risk. Can you give me examples of how this is a security risk? I'm looking for more information.
Answer: Remember Frank W. Abagnale, co-author of Catch Me If You Can? Maybe you'll remember him if I remind you his part was played by Leonardo DiCaprio in the movie of the same name.
One of Frank's favorite scams was to grab a bundle of these blank deposit slips and encode them with his own account number, then tuck them back into the lobby desks, where they'd be used by unsuspecting customers. That would put their hard-earned money into Frank's account.
These slips are also favorites of scam artists who will obtain a legitimate account number and deposit fraudulent checks in "less cash" transactions.
First published on BankersOnline.com 3/7/05
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