TruStage Risk Alert: MICR Line Alteration on Checks
A recent TruStage Risk alert warns about an emerging check fraud trend, the manipulation of the magnetic ink character recognition (MICR) line at the bottom of deposited checks. Fraudsters are adding faint routing symbols and characters to the MICR line which disrupts how these items are read and cleared through image-based processing systems. These items are then coming through as adjustments rather than returns long after check holds expire.
To find out more about this fraud trend and how to mitigate risk for your credit union, visit the TruStage Risk Alert library. (User ID and Password required)
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