Corporate Check Fraud Protection Manual: Compliance, Liability, Positive Pay

Author: Clayton P. Gillette
Format: Loose Leaf
Price: $525
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Unfortunately, check fraud is a pervasive problem for companies of all sizes. While checks may not be as prevalent as they once were, there are still countless bad guys out there inventing new and ingenious ways to game the system, while also relying on time-dishonored methods of deceit and forgery. Couple that with the regulations and competitive pressures to accelerate availability which cause banks to make funds available for checks before those checks have actually cleared, and the criminals will seize the opportunity to successfully negotiate fraudulent checks.

One of the main reasons for the recent increase in check fraud is the availability of low-cost, professional quality electronic publishing and copying technology. Using color copiers, laser printers, scanner and desktop publishing systems, counterfeiters can easily produce excellent copies of checks. Today, most check fraud involves the use of electronic image-processing equipment to produce forged checks, duplicate checks, or checks with altered dollar amounts.

Fortunately for would-be victims, the Corporate Check Fraud Protection Manual is here to help. It is well-designed to assist corporations with internal procedures, checklists and strategies that will assist you in the detection and prevention of check fraud with the goal of reducing losses. This one-stop reference guide contains everything you need to know about discovering and eliminating check fraud, complying with applicable regulations, and using positive pay.

The manual covers:

Understanding checks and check fraud
Forgery of the drawer's signature
Forged indorsements
Alteration of the check
Notice of breach of fiduciary duty
Payment over a restrictive endorsement
Check kiting
Positive pay

Each chapter contains internal procedures for reducing risk of the most common check fraud schemes, regulatory materials with case law discussion, a checklist, and discussion points for review exercises.

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About the Author

Clayton P. Gillette is a co-author of Payment Systems and Credit Instruments, a leading casebook on this subject, and the author of multiple articles concerning payments law and other areas of commercial transactions. He is the Max E. Greenberg Professor of Contract Law at New York University School of Law, where he teaches commercial law. Professor Gillette has also served as an expert witness and consultant in matters involving the use of fraudulent negotiable instruments.

Professor Gillette received his B.A. from Amherst College magna cum laude in 1972 and his J.D. magna cum laude in 1975 from the University of Michigan School of Law. After graduation from law school, Professor Gillette served as a clerk to the Honorable J. Edward Lumbard of the United States Court of Appeals and was associated with the Manhattan office of Cleary, Gottlieb, Steen and Hamilton. He has served on the faculty of the University of Virginia, and prior to that was Associate Dean, Professor of Law, and Warren Scholar in Municipal Law at Boston University School of Law. He has also served as a visiting professor of law at New York University School of Law and the University of Michigan School of Law.