One of the biggest discussions and concerns in the Remote
Deposit Capture world lately has revolved around the Mobile version of this
process. To be more specific, the threats and opportunities for fraud to occur
with Mobile Remote Deposit.
The major threat everyone seems to be honing in on is the
chance for multiple deposits at different financial institutions or check
cashing locations, of the same paper item.
An easy example of this would be an individual uses his
smart phone to execute a Mobile Remote Deposit of a check for $100 into a bank
account. That individual then goes to a check cashing (or another financial institution) and cashes that same check for
$100.
The next day when the funds become available in their
account at the financial institution where the Mobile Remote Deposit was
executed. The individual now has used the same check for $100 to claim $200
from it.
