What was once a routine way to pay your bills — handwriting paper checks at the kitchen table, dropping envelopes into a blue metal box on the street — has become a high-risk endeavor: It provides the raw materials for low-level fraud artists and sophisticated crime rings, costing financial institutions billions. It has put banks on high alert, though their efforts to catch the fraud also routinely entangle innocent customers, causing institutions to suddenly freeze or shut down customer accounts in the process. Many of the bad guys manage to disappear without any consequences.
“Fraudsters go where the money is easiest,” said Chad Hetherington, a vice president at NICE Actimize, a financial crimes company specializing in fraud prevention.
Even as check use has rapidly declined over the past couple of decades, check fraud has risen sharply, particularly since the pandemic. The cons may start with stealing pieces of paper, but they leverage technology and social media to commit fraud on a grander scale, banking insiders and fraud experts said. In the past, criminals needed a special internet browser that would ……..
Rotary International President R. Gordon R. McInally revealed the 2023-24 presidential theme, Create Hope in the World, asking members to restore hope by helping the world heal from destructive conflicts and create lasting change within ourselves. McInally told attendees he plans to make mental health a focus and emphasized continuity in advancing the goals of previous leaders, including empowering girls and eradicating polio.
R. Gordon R. McInally, President of Rotary International, 2023-2024
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