Monitor for check fraud with FedPayments® Reporter Service for Check Services

July 13, 2023

There has been a nationwide surge in check fraud targeting the U.S. mail, which your customers may be experiencing firsthand. In some cases, this fraud bypasses positive pay services when checks are falsely endorsed and/or dollar amounts are not changed.

The FedPayments Reporter Service for Check allows you to offer additional fraud detection to both your business customers and consumer accounts. For business accounts, the Corporate Payor Report allows your corporate customers early access to review check details the morning of presentment (via scheduled, secure push emails) to help meet return time frames. For consumer accounts, a financial institution-level Check Advanced Notice Payor Report may provide your internal staff more time to review the highest dollar checks for potential alterations and suspicious endorsements.

Reports of check fraud have almost doubled from 2021 to 2022* 350,000, 680,000 *According to the Financial Crimes Enforcement Network

For more information about FedPayments Reporter Service for Check, contact FedACH® and Check Services Customer Support or your relationship manager. You may also request that we contact you regarding your interest in the service or fill out a service request form (PDF).

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