What do you do when your customer reports an altered check has paid? What do you do when you get a claim from a paying bank that you presented an altered check? What does Presumption of Alteration mean, and how does that affect a claim of altered check?

This session will provide an overview of Canadian cheque processing and review a few enhancements tt achieve greater operational efficiency.

Why a duplicate check causes issues to a financial institution (FI), Reg CC's duplicate presentment warranty which places liability on the depositary bank, and a review of liabilities for FI's when duplicates occur via remote deposit capture (mRDC).

What do you do when a customer reports an unauthorized remotely created check paid their account? Who is liable? What recourse does the Paying Bank have?

The presentation summarizes current vectors and methodologies that fraudsters are using to engage in check fraud. Participants will receive information on thirteen mitigation solutions that can be useful in detecting, monitoring, reporting, and fighting check fraud. These solutions include a number of “knowledge nuggets” that may be used to effectively help an institution in this effort. Understanding the current check fraud environment and the ways key stakeholders are collaborating to fight this threat can help your institution tackle this challenge.

This session covers topics like unauthorized, altered and stale dated checks, duplicates, warranties & warranty breaches to help operations, risk & fraud departments find the appropriate law, regulation and rule to support appropriate action.