ALPHARETTA, Ga.-One person believes the window of opportunity for remote deposit capture fraud is closing.
John Leekley, founder and CEO of RemoteDepositCapture.com told Credit Union Journal that not only are financial institutions' returned item numbers today the same as they were before the emergence of RDC, but active efforts of banks and credit unions to get ahead of mobile check deposit fraud will slam the door virtually shut on criminals.
"In the early days of RDC, back in 2004 and 2005, there was a great deal of talk about check fraud increasing," said Leekley. "Back then the percentage of all returned items was one half of one percent, and today that figure is the same."
Leekley said the industry is getting ahead of the wave of mobile check deposits and in the not-too-distant future, before mobile RDC is commonplace, FIs' defenses will be very strong.
"Their systems are getting better as are their risk management practices. The instance of fraud and loss attributable to RDC is miniscule today, and while the threat will never disappear, it will get even smaller as the years go by."
