How does the application help detect fraudulent checks?
There are several ways in which the Inclearing System helps eliminate fraud:
The system requires that the Payee and Issue date fields to be populated. This can only be achieved by having Positive Payments through the
Interface or the user entry of the fields obtained from the check Image. All items matched automatically to Positive/Stop Payments and those manually enriched must be Authorized by a second person. This gives an
opportunity for the user to verify the data and determine fraudulent checks.
Items are also checked against history to determine if a check has already been paid.
Images of suspicious checks can be e-mailed to the issuer for further verification.
History of n early 10 years of data and images can be maintained on-line eliminating possibility of duplicate checks.