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Check fraud detection tips for AML professionals

Abrigo

Takeaway 1 Check fraud detection is a critical component of AML programs because it is one type of fraud that continues to trend upward in financial institutions. Takeaway 2 According to the FBI, reported losses from check fraud total $1 8 billion annually.

Fraud 195
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US check use for payments exceeds other countries: Fed

Payments Dive

check use for transactions, other nations have seen sharper declines, a Federal Reserve study showed. Although there has been a drop in U.S.

US 369
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Check use persists in B2B, despite digital acceptance

Payments Dive

Although roughly 99% of vendors surveyed accept ACH payment, the share of payments made via check was neck-and-neck with that for ACH this year, according to a MineralTree report.

Survey 243
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New York Raises Check Cashing Fees

Perficient

Effective February 26, 2021, New York State has increased the maximum fee that check cashers in New York State may charge. percent of the face amount of a check, draft, or money order. According to New Jersey Check Cashing Regulation 3:24-4.1, of the face amount of the check, or $.90, back from the check casher.

New York 309
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The Non-QM Market Experiences a Remarkable Comeback: Check Out the Industry Guide

Check out GoDocs’ “Lender’s Guide to Document Challenges for Non-QM Loans” for a detailed look at the benefits of non-QM loans, how to maneuver your way through, and what the future may bring. Moving forward, automation and non-QM loans will play key roles in driving innovation and expanding the pool of potential borrowers.

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PayPal Waives Check Cashing Fees For Stimulus Checks

PYMNTS

PayPal will allow customers to cash their next stimulus checks free of charge, according to a press release. The payments giant said in the release that the checks will go through instantly on the PayPal app's cash-a-check feature.

ATM 284
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Checking in on the Banking Top 10 Trends for 2023

Accenture

With all due respect to the impact of generative AI—which we anticipated in our Top 10 Banking Trends for 2022—the biggest overall story so far this year is probably the… The post Checking in on the Banking Top 10 Trends for 2023 appeared first on Accenture Banking Blog.

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The New 7 Facts on Housing Interest Rates and What Banks Can Do About It

Check out the surprising facts right here. At the same time, the federal government is taking steps to curb inflation by raising interest rates. It's becoming harder to make informed decisions about where rates might go. However, that begs the question: how does this affect the CRE multifamily sector?

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Transforming Non-Performing Assets With Loan Modification Automation

Check out the video to see how lenders leverage automation to transform non-performing assets into continuing performers with the ROI to prove it. Loan modification automation empowers lenders with advanced technology to handle a high volume of loans when needed most.

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Next-Gen Loan Document Automation in Private Lending

Check out the white paper to see how private lenders are catapulting their advancement and embracing the commercial lending automation ecosystem to make it happen.

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The Lender's Guide to Automating Complex Loans

Check out the guide and get your custom ROI! Ultimately, the guide is a glimpse into the future, as lenders move away from the attorney legacy process and onboard technology that can process commercial loans faster while ensuring that the documents are complete, compliant, and accurate.

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LinkedIn + ZoomInfo Recruiter: Better Data for Better Candidates

Check out our latest ebook for a guide to the in-depth, wide-ranging candidate and company data offered by ZoomInfo Recruiter — and make your next round of candidate searches faster, more efficient, and ultimately more successful. But that doesn't mean there aren't some frustrating roadblocks on the network.

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What Lenders Need To Know: Increase of Standardized Loan Rejections

Check out the Infographic. This is true whether they are coming from substandard loan doc automation providers or attorneys that have created repeatable templates that are substandard unless reworked in a law practice. Cheaper is most definitely not better and the buyer should beware.

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Unique Challenges in the C&I Market Bridging the Gap from Attorneys to Tech

Speaker: Ren Hayhurst, Sr. Counsel and Executive Director

Check out the on-demand webinar! Don't miss this opportunity to stay ahead of the curve and make informed decisions. Join us now and unlock actionable strategies to navigate today's C&I lending landscape successfully.

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Forrester Research Report: How Sales and Marketing Intelligence Drive Improved Business Outcomes

Check out this latest report to gain insight into best practices (and benefits) for B2B data management including how: Automating tasks and improving data quality would increase sales staff satisfaction and productivity.