Office of the Comptroller of the Currency

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Check Fraud: A Guide to Avoiding Losses
September 1996

Background
Significant terms
Check Fraud Schemes

• Altered Checks
• Counterfeit Checks
• Identity Assumption
• Closed Account Fraud
• New Account Fraud
• Fraud by Bank Insiders
• Telemarketing Fraud
• Check Fraud by Gangs

Preventive Measures

• General Internal Controls
• Internal Controls to Prevent Check Fraud by Insiders
• Education and Training
• Teller Training
• Guidelines to Consider When Cashing Checks
• New Accounts Representatives Training
• Guidelines to Consider When Opening Accounts

Other Preventive Measures

Positive Pay Reverse Positive Pay Finger Prints Electronic Check Presentment Data Sharing: Cooperation between Check Manufaturers and Banks Check Security Features

Sources