Fraudsters have become highly skilled in execution and sophisticated in approach as a result of advances in technology and evolution of personal computers, scanners and color photocopiers. Criminals today are adept in defrauding you and your organization without many hassles by taking a blank check from your check book, a check that you may have emailed to pay a bill or a canceled check you may have disposed. Therefore, it is very important today to adopt a logical approach and preventive sense to defeat such malicious check fraud attempts.
Real-Time Check Fraud Monitoring Available 24*7*365
QPS offers a tailor-made check fraud solution covering all aspects of risks including On-Us deposit, RDC, mobile, teller, kiting and signature validation. Check kiting has been a major problem in the US that results because of no clearing period following presentation of a Check causing losses amounting to Millions of dollars.
QPS provides prompt detection of check scams to help FIs safely endorse mobile deposits eliminating fraud at the teller window, ATM, RDC and inter-bank by either declining or holding checks on the spot.
Our cross-trained fraud prevention analysts available 24*7*365 use early warning systems, advanced data analytics, customized scenarios and real-time payment interdiction to detect fraud. The check fraud solution has been designed to deliver real-time fraud detection to enhance fraud prevention rate and manage false positives.
Comprehensive Check Monitoring Across Verticals
- Counterfeit Checks
- Signature Forgery
- Duplicate Presentment
- Payee Match
QPS fraud prevention analysts help combat counterfeit checks using a detailed verification process encompassing all types of checks and Image Return Documents (IRDs) such as:
- Check Number
- Date of Issue
- Payee Details
- Dollar Value
- Dollar Sign
- Payor Block
- Payor Bank Field
QPS’s check fraud monitoring and fraud prevention solution:
- Identifies fraudulent check transactions in real-time before the loss occurs
- Detects fraud quickly using pattern recognition models
- Manages false positives
- Controls flash fraud with user-defined scenarios and detailed scorecards
- Simplifies workflow with prompt alert and case management system