67SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Preston Packer Preston Packer is the Director of Sales & Marketing for FLEX. Preston has been with FLEX since 2000 and has worked in various sales management roles over that time. Preston’… Web: www.flexcutech.com Details Cash may be king, but for many purchases, cash is just not reasonable or possible. And while payment cards and ACH are popular alternatives, the assumption that paper checks are dead is a risky one to make. The overall usage of checks during the past decade have declined, but not at an accelerating rate. (1) In fact, in the US, paper checks are not going away anytime soon, especially in business transactions, where 51 percent of B2B payments are still made by check.(2) Despite the continual decline, checks today are the payment method most often targeted by fraud. This is why your credit union cannot ignore making improvements to the security of your paper check handling and processing.71 percent of companies experience check fraudAccording to the 2016 AFP Payments Fraud and Control Survey, 71 percent of companies experienced actual or attempted check fraud in 2015. Since check usage itself is down, this number also represents a decline in check fraud, down from 77 percent in 2014. Forty-four percent of organizations that experienced check fraud in 2015 suﬀered between one and five incidents; whereas 22 percent were subject to between six and ten incidents.If you belong to the camp that checks are disappearing and fraud isn’t a concern, keep in mind that check fraud has not declined at the same rate as check use. The same study found that while check fraud may be slightly down, the fraudsters are getting better at what they do. Since checks have been around for so long, these defrauders are familiar with checks and are able to commit check fraud with relative ease with the help of sophisticated equipment. Checks are physical items that can be altered fairly easily and modern technological equipment aids counterfeiting. For this reason, check fraud accounted for the largest dollar amount of loss of any type of fraud in 2015.Putting Protective Measures in PlaceThere are effective protective measures credit unions can offer to assist in preventing fraud at the frontline or from within member accounts. The previously mentioned AFP study uncovered that a majority of companies were targets for check fraud one to five times in 2015, and twenty-one percent were attacked more than 21 times. This suggests that fraudsters “cast a wide net” in hopes to find vulnerabilities, and once found, will repeatedly attack the same credit union, business or individual.Member education and employee training is a great first step to preventing fraud. Especially since credit union members may believe that check fraud is less likely to occur than mobile payments fraud. However, forty-two percent of AFP study respondents reported an increase in check fraud attempts in 2015.Integrating technologies that process paper checks is another step to preventing check fraud. This would mean, for instance, combining systems that aggregate check deposits – the teller line and remote deposit capture channels for instance. Having integrated systems will automatically detect duplicates (dedupe) in real-time and remove them from the processing system. This would be in addition to a “For Mobile Deposit Only” and “VOID” programs, that are already most likely in place at your credit union.Combining technologies might be the most effective way to prevent check fraud. Most credit unions employ some type of check-21 processing system, whether it be teller or branch capture. Adding a fraud detection service to the check-21 process will help validate accounts and/or funds availability. Integrated fraud detection combined with teller capture check-21 can increase the speed of transactions and protect credit unions from the trend of fraud in the processing of checks, even as checks begin to disappear.Sources:http://bankinnovation.net/2015/05/the-disappearing-check-how-long-until-the-end/https://wholesale.wf.com/global-focus/why-do-u-s-companies-still-use-checks/
“One of my friends nicknamed them acid portraits, so that’s sort of what I’ve been calling them,” Fuesler said. “They’re just really, like, bright and colorful and kind of trippy looking portraits of people.” Coffman, a rising senior majoring in aerospace engineering, captured the energy of these moments on camera. With a click of a button, he photographed protesters on the frontlines, cop cars on fire and youth skateboarding in the street. With every donation that she gets, Kapoor has been matching it through several contacts and organizations, such as USC Project RISHI, a nonprofit organization that leads initiatives in India and Los Angeles. “I’m starting to become more comfortable just putting my artwork out for people to see because it’s been received fairly well so far,” Work said. “So I think it’s something that I can keep doing, and even if it’s not for other people, it’s something that I’ll still do for myself.” “I hadn’t sold posters before, but I decided it would be one of the ways in which I would be able to raise a lot of money really fast if I was able to just sell my posters and step out of my comfort zone and raise my voice to garner donations, and it ended up working out pretty well,” Work said. Fuesler has recently joined #CommissionsForChange and has received a positive response. So far, a lot of her close friends have submitted forms, but Fuesler hopes to expand her art activism and garner more interest. Fuesler, a Latina woman, said she wants to use this moment to uplift the Black community. As protesters took to the streets to demand justice for George Floyd, Breonna Taylor, Tony McDade and countless others who have been killed at the hands of law enforcement, Bobby Coffman was there beside them in Los Angeles. Fuesler has done similar advocacy work before; to help those who experienced stress due to the coronavirus pandemic, she designed a coloring book that doubled as a mood tracker. Now, she is creating stylized portraits for anyone who submits proof of donation to any organization benefiting the Black Lives Matter movement. Kevin Yin, a rising sophomore majoring in media arts and practice, has also been using his digital art skills to fundraise for racial justice. Yin has been creating commissions in order to aid in the movement as an ally, and he’s no stranger to advocacy work. In high school, Yin created graphics for student groups leading movements such as environmental protests, school walkouts and women’s marches. “I care a lot about Black Lives Matter, and I don’t really see it as a political issue,” Kapoor said. “I wanted to do more to help towards it. I did the donations [with] what I could for my family [and] with our income and everything, but I wanted to do more.” “That was basically kind of what I based the little project, I would say, off of because you can see the resilience of Black culture even in times of hardship,” Coffman said. “You see these Black youth skating on a burnt-down car while police are shooting tear gas and rubber bullets at people. No matter what, the street will always belong to the people.” Initially, Coffman did not intend to sell the photographs, but after people expressed their interest, he saw the opportunity as a way to raise money for the NAACP Legal Defense and Educational Fund, a law firm that, according to its official website, “seeks structural changes to expand democracy, eliminate disparities, and achieve racial justice in a society that fulfills the promise of equality for all Americans.” “I incorporate my own style for painting with adding flowers and a lot of nature-y stuff, so a lot of clouds,” Kapoor said. “And I’ve also added henna on a couple of the paintings like the hands since I’m Indian.” “This is a very important movement for the culture, especially right now,” Coffman said. “I just kind of wanted to show everybody else what it is kind of like to be on like the frontlines of a violent protest, I would say, where things are on fire, and there’s definitely tear gas being shot.” Work was initially hesitant about whether his voice would be heard, but thanks to support from family and friends, he has been able to raise more than $700 for ActBlue, an organization that splits donations between several groups fighting for racial justice. While on-the-ground protesting has been an avenue for many to get involved with the Black Lives Matter movement, Mekhla Kapoor has been unable to do so in fear of spreading the coronavirus to her grandparents. Instead, Kapoor, a rising junior majoring in computational neuroscience, has been using her love of painting to fundraise for the Black Lives Matter movement. Kapoor has never sold her own art on such a large scale before; the magnitude of the moment, however, inspired her to seek out more ways to get involved. “I think a really important part of being an ally is to understand that this is about something so much bigger than yourself,” Fuesler said. “And that you really need to educate yourself and learn and listen to other people who just haven’t been listened to for so long throughout our history.” (Art courtesy of Kevin Yin) (Photo courtesy of Bobby Coffman) Yin is part of a campaign called #CommissionsForChange, a fundraising project originally started by Stanford University student Amy Lo. The process for getting a commission done involves submitting proof of donation, filling out a form and sending Yin one to three photos that he transforms into digital art. The film photographer, who began his craft during his sophomore year at USC, wanted to document the experiences protesters had to go through to fight for justice. When taking photographs, he focused on capturing moments that highlighted the energy of the protest, such as protestors going head-to-head with the police while wearing face masks to protect themselves. Emily Fuesler, a rising senior majoring in art and media arts and practice, also participates in #CommissionsForChange as a way to support the Black community. From a young age, Fuesler found comfort in various forms of art. As she grew older, Fuesler knew this was the career path she wanted to pursue. “I’ve always sort of [wanted] to use my art to bring change to the world and to bring about escapism and to imagine sort of a better world,” Fuesler said. (Art courtesy of Emily Fuesler) “Some people call it digital photo edits or photo art, but it’s supposedly like a collage feel,” Yin said. “You take different elements in the photos and you change them with blending layers and then other elements.” Those who donate are able to choose between three different paintings: a cartoon character of the person who did the donation, two people holding hands and the Black Power fist. Kapoor creates the color schemes of the paintings based on the donor’s Instagram feed or their favorite colors. (Art courtesy of Mekhla Kapoor) Similar to Kapoor, Kendall Work is selling his art for the first time to collect donations. Work, a rising junior majoring in mechanical engineering, takes classes outside of his major at the Roski School of Art and Design and is selling posters of singer-songwriter Solange that he created in a digital design class.