Vendor Guru Q&A - Security

Latest Security - Counterfeit Topics

Statistics, Facts, & Such

11/01/2003

In Japan the UFJ Bank and the Mizuho Bank have announced they now offer 24 hour ATM service at some 2,500 ATMs (out of about 8,000 machines) for the first time.

Verification of Cashier's Checks

09/02/2003

With all the counterfeit cashier's checks being given, how should we handle verifying that they are good and giving immediate credit on new accounts or for deposit?

Thumbs Up In Minnesota

06/24/2003

Minnesota bankers recently became the latest group of bankers to gives a thumbs up approval on using fingerprints as a deterrent to check fraud.

New Currency - Again

03/01/2003

Just about the time we were getting used to the new bills, the Treasury Department announced the introduction of a new $20 bill in late March.

Protecting Customers from Fake Cashier's Checks

02/03/2003

Protecting Customers from
Fake Cashier's Checks
by Mary Beth Guard

One of our customer service representatives opened a letter from one of our customers. Inside was a check from a corporation made payable to our customer for $7,500. Because of previous check problems with the customer, the customer service representative examined the corporate check closely and realized that the reverse side of the corporate check did not contain the artificial watermark features or graduated background as indicated on the front of the check. The customer service representative contacted the corporation who allegedly wrote the check to our customer and was informed that it was a counterfeit check. Based on this information, the customer service representative did not credit the account of the customer. The question is what are we supposed to do with the counterfeit check? Do we notify the customer that we are not accepting the check? Previous letters from us to the customer have been returned as undeliverable. What are our options?