2024 tax filing season has started. Help your financial institution identify fraudulent duplicate tax refund check deposits.
Early notification of potentially fraudulent activity helps risk officers identify bad actors and take appropriate action to limit future losses. For banks of first deposit (BOFDs), the FedDetect Duplicate Treasury Check Notifier Service offers daily reports on potential duplicate Treasury checks processed by the Federal Reserve Banks.
This service reviews all Treasury checks that were deposited across multiple payment channels, including ATMs, mobile devices and tellers, by your institution or any other BOFD on the current day or previous 60 calendar days.
Signing up is easy. Your relationship manager can help you onboard these reports for your institution. Submit a contact request to receive more information, or submit a participation agreement (PDF) to begin receiving your institution’s reports.
