Demand Deposit Account Fraud: the 'Devil' is in the Details

November 30, 2011 (1 hour) - 12:30 ET  11:30 CT  10:30 MT  9:30 PT

This year the Atlanta Fed indicated that demand deposit accounts (DDA) are a prime target for fraudsters - especially because of multiple access points (e.g. online, mobile and ATM). DDA fraud losses are estimated at $5-7 billion a year and expected to grow at an annual rate of 7%.

• New Account Fraud
• Check Kiting
• Online Account Takeover

It highlights how details such as ACH codes, check MICR number and cash break-out of ATM deposits can be the most revealing clues that a fraudster is exploiting a demand deposit account.

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