The Treasury Department announced it deployed safeguards that verified more than $3.7 trillion in federal payments in the past year.
Highlights: Treasury cited increased access to the Do Not Pay program, which provides federal agencies and federally funded state-administered programs with data and tools to help verify identity and eligibility.
ICBA View: In a recent blog post, ICBA discussed how community banker advocacy has contributed to a rising push to address check fraud.
More Fraud Efforts: While the fight against fraud is ongoing, ICBA is making headway by:
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Partnering with the U.S. Postal Inspection Service and working with the U.S. Postal Service.
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Creating practical fraud prevention resources for community bankers, including a guide on escalating concerns to regulators.
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Starting a Fraud and Scams Task Force that has matured into a venue for peer intelligence and best-practice sharing.
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Hosting a fraud discussion group on ICBA Community for more than 1,500 community bankers.