News

U.S. depository institutions reported an increase in check fraud and related crimes in 2022, while reports on dubious business loans and suspected abuse of government support programs declined sharply from peaks seen the previous year, federal data shows. Check fraud rose to the number one suspicious activity reported by banks and credit unions last year—up from number five in 2021—followed by identity theft, credit and debit card fraud and forgery, according to data disclosed by the U.S. Financial Crimes Enforcement Network on Jan. 25. The volume of suspicious activity reports, or SARs, on suspected fraudulent checks roughly doubled from the...