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Commercial Bankers
As a commercial banker you must be concerned about fraudulent online access to your customers' accounts, the fastest growing form of identity theft according to the Federal Deposit Insurance Corporation (FDIC). Unauthorized access to bank customer accounts, sometimes called 'account hijacking', can result in the fraudulent transfer of funds or the payment of counterfeit checks. See Ethent Notes: "Account Hijacking" for a brief discussion of this type of fraud.
Ethent developed 2FThent, its two-factor authentication product, to prevent unauthorized online access to bank customer accounts. See Interactive Demonstrations: "Two-Factor Authentication" for a hands-on presentation of a two-factor authentication system.
Bankng industry losses from the payment of fraudulent bank checks by bank tellers is substantial, but losses from the payment of fraudulent deposited checks may be even larger. For some actual cases which show how fraud perpetrators turn counterfeit bank checks into cash, see Ethent Views: "Analyzing the Philadelphia Story:
1,569 Counterfeit Checks Create $4,200,000 of Losses.
Ethent developed 1WFThent, its one-way fingerprint product, to combat fraud caused by the payment of altered and counterfeit bank checks. To learn how one-way fingerprints can be used to authenticate bank checks see Interactive Demonstrations: "One-Way Fingerprints" for a hands-on presentation.
If you are a bank check payer then you know that it is difficult to
authenticate bank checks before payment. Unlike
currency, whose security features (microprinting, fluorescent
security thread, watermark, etc.) are well known, you don’t know what security features
should be present on bank checks presented for payment.
Ethent developed WBWBChecks, its web-based warning band product, to provide each paying bank with security information about its account holders' bank checks. To learn how web-based warning bands can be used to authenticate bank checks see Interactive Demonstrations: "Web-Based Warning Bands" for a hands-on presentation.
For addtional information about Ethent's fraud solutions contact Ethent.
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