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Solution Spotlights

More than 1 Million Americans have been victims of fake check scams

 

Protect your credit union and your members with TrueChecks by stopping fake checks at the teller line.

 

TrueChecks stops:

 

  • Counterfeit checks
  • Counterfeit money orders
  • Counterfeit postal orders
  • Counterfeit travelers checks
  • Counterfeit lottery scam drafts
  • Counterfeit overseas scam drafts
  • Counterfeit rings in your region

 

By establishing screening standards on checks (i.e. every check over $3,000, personal checks over $1,000 or checks cashed on new accounts) and entering the check data into the TrueChecks software, credit unions will be able to greatly reduce their check fraud losses. The software scans the database to ensure that the check is accurate and legitimate. If the check is not, a message will be sent within seconds of the transmission identifying the issue with that particular check.

 

TrueChecks leverages your existing infrastructure so there are no up front hardware, communications or installation costs. TrueChecks cost benefit analysis is typically measured in weeks as a result of its proactive approach to stopping counterfeits before they are accepted. Available on a monthly subscription service based on your credit union’s asset size, TrueChecks will easily pay for itself by just stopping one to a small handful of fraudulent checks per year.

 

For more information please contact Ben Schweder, Vice President – W.C.U.L. Services Corp., at (800) 242-0833, Ext 6026.


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