The latest check fraud detection technology.
Guarding against check fraud is no small matter. Inexpensive home computer technology and software advancements have made check fraud a major area of financial crime, growing at a rate of 25% a year, according to the American Bankers Association.
To help prevent the passing of fraudulent checks, Icon has implemented Positive Pay, the latest check fraud detection technology. Icon customers who sign up for Positive Pay simply log onto Business Online Banking through Icon’s website and submit a file with all checks written on their account. Positive Pay will then compare and match the checks presented for payment against the customer’s submitted file. If a check does not match the information provided by the customer, it is treated as an “exception item.” Icon then sends an image of any exception items to the customer for review and approval.
For more information
If you have additional questions, contact EVB for assistance.