US banks grapple with cheque imaging fraud challenges
CONNECTICUT --
Handling cheques, with the requirement that they are returned to the institution on which they are drawn, is a major operational headache for banks. As is the fraud associated with their use -- now running at $853 million a year in losses in the US, according to Connecticut-based market analysts TowerGroup. Now, the US government has changed the law to enable banks to deliverOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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