The recent growth in check fraud has reached epidemic proportions, leaving no individual, company, or municipality immune. More than 1.2 million worthless checks enter the banking system each day. The Nilson Report advises that annual check fraud losses now exceed $20 billion, which is up from $12 billion in 1996
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Articles by Frank Abagnale
The fastest growing financial crimes in America today are check fraud and identity theft. The Nilson Report estimates check fraud losses to be about $20 billion a year. The American Bankers Association has stated that check fraud is growing 25 percent per year.
According to the Federal Trade Commission (FTC), 500,000