A Texas car and motorsports entrepreneur orchestrates a scheme to check kite $114 million, fooling investors and his business partner that he’s running a thriving business.

Learn more about Real-time Deposit Chek^® Service as a tool to confirm the status of an account, predict the likelihood that an item will return, while validating the external account is owned by the customer requesting the deposit transaction.

As much as customers love variety in banking, so do fraudsters. With the emergence of omni-channel banking, scammers have found ways to leverage each new channel for fraud - and deposit fraud is one of the most common tactics. It’s a persistent and challenging issue that can have a major impact on customer trust, employee morale, brand reputation, and even your FI’s bottom line.

Synthetic identity fraud losses rose to an estimated $20 billion in 2020—spiking sharply from an estimated $6 billion in 2016¹. One of the fastest growing financial crimes in the U.S., synthetic identity fraud is now one of the