Even before the pandemic — and the stimulus bills that sent trillions of dollars via check into consumers’ (and not a few fraudsters’) hands — the alarm bells were tolling.
The FTC said way back in February (feels like a lifetime ago!) that check scams were on the rise. And even before then, as evidenced by an earlier conversation between Karen Webster and Drew Edwards, CEO of Ingo Money, mobile deposit fraud was increasingly becoming a favorite vector for criminals.
Back then, Edwards noted that mobile check fraud was escalating so much that some banks were shutting off the feature entirely.
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