Mobile Remote Deposit Capture

Banker Resource
July 3, 2012 — 1,463 views  
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Remote deposit capture has been integrated into many offices during the past decade, but few imagined that this would one day be achievable on a smartphone or tablet. Mobile banking on these devices has skyrocketed as network security improves. However, there are still a few compliance risks associated with mobile remote deposit capture.

Most of the concern revolves around attendant fraud and the manipulation of checks. In the past, magnetic strips and special inks distinguished an authentic check from a forgery. However, because customers are required to scan and send an image of a check, photo editing software could be used to change that image to a criminal's advantage. How is a bank supposed to know the deposit number or other private information is correct?

Attendant fraud has always been a risk at banking institutions, as a man or woman on the inside could commit fraud. A teller or employee who is stealing from the bank may approve false checks and then blame the machine or sender for lost funds.

Mobile remote deposit capture remains risky at best, but as improvements are made, the United States is certain to see more reliable methods replace conventional checking in the near future.

Banker Resource