Banks Stepping Up to Fight Fraud - KAIT Jonesboro, AR - Region 8 News, weather, sports

Jonesboro, AR--Brett Garrett Reports

Banks Stepping Up to Fight Fraud

November 16, 2006--Posted at 5:45 p.m. CST

JONESBORO, AR--With the tremendous growth of the debit card, it may come as a surprise to find out that checks remain by far the most used form of non-cash payment. In any industry there is a fight to get ahead of the curve and the world of scams is no different.

"As we come up with ways to deter them, they are coming up with ways to outsmart that," said Heritage Bank Vice President of Operations Jill Lawson.

Whether it is credit cards, checks or old fashioned currency, it is becoming harder to detect a fake.

"You can look at the stuff we have gotten back and it looks almost real. I have been in banking for 22 years and they look real to me," said Lawson.

Heritage Bank has seen customers enter its bank with counterfeit currency and checks from the next get rich scheme.

"If it is too good to be true it probably is. The letters people are getting saying they won a sweepstakes, if you haven't entered one you probably didn't win it," said Lawson.

The customer receives a check from the sweepstakes scam then deposits it in the bank. They send a portion back to the scammer. That's when the check comes up counterfeit and the bank customer is forced to pick up the cost of the check.

"They get money out of savings. They have to mortgage their house, they have to do everything they can to cover what they sent off," said Lawson.

However, the banks are fighting back.

"They are making strides to make counterfeit as hard as can be," said Lawson.

Heritage Bank is using a new machine called the Fraud Fighter. It can run checks and traveler's checks in less than three seconds and determine if they are fake. It also scans currency, which passes other tests, to make sure you don't have any funny money.

In addition the machine can also pick out money that has been altered. If you put an altered bill under the machine it looks the same as a five dollar bill. Meaning they have actually bleached the bill and put a hundred dollar printing on top of it.

The fraud fighter can also detect fake driver's license and counterfeit credit cards.

According to the latest survey from the American Bankers Association, community banks have seen the greatest increase in check fraud. In 1997, 49% of banks reported losses due to check fraud. In 2003, that number increased to 72%.

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • Search continues for armed, dangerous suspect

    Search continues for armed, dangerous suspect

    Sunday, June 17 2018 6:51 PM EDT2018-06-17 22:51:15 GMT
    Monday, June 18 2018 2:46 PM EDT2018-06-18 18:46:16 GMT

    Officials in Lawrence County are asking people on the west side of Imboden to keep their doors locked as law enforcement looks for an armed and dangerous suspect who fled from police Sunday afternoon.

    Officials in Lawrence County are asking people on the west side of Imboden to keep their doors locked as law enforcement looks for an armed and dangerous suspect who fled from police Sunday afternoon.

  • Train hits semi-truck loaded with blasting caps

    Train hits semi-truck loaded with blasting caps

    Monday, June 18 2018 10:23 AM EDT2018-06-18 14:23:04 GMT
    Monday, June 18 2018 2:07 PM EDT2018-06-18 18:07:28 GMT
    A train struck a semi-truck carrying blasting caps. (Source: Independence Co. Sheriff's Office)A train struck a semi-truck carrying blasting caps. (Source: Independence Co. Sheriff's Office)

    Independence County emergency crews are on the scene of a train versus semi-truck collision near Batesville.

    Independence County emergency crews are on the scene of a train versus semi-truck collision near Batesville.

  • TRAFFIC ALERT: Dump truck knocks down power lines in Jonesboro

    TRAFFIC ALERT: Dump truck knocks down power lines in Jonesboro

    Monday, June 18 2018 11:50 AM EDT2018-06-18 15:50:51 GMT
    Monday, June 18 2018 2:06 PM EDT2018-06-18 18:06:44 GMT
    The crash occurred at the intersection of Dan Avenue and Hasbrook Road. (Source: Google)The crash occurred at the intersection of Dan Avenue and Hasbrook Road. (Source: Google)

    A dump truck has knocked down several power lines on Dan Avenue in Jonesboro.

    A dump truck has knocked down several power lines on Dan Avenue in Jonesboro.

Powered by Frankly