A third felony charge, possession of an altered check
with intent to defraud, is to be dropped under the plea agreement.
Court records show that the customer contended that Wachovia Bank should bear the loss because the altered check
was not "properly payable" under Article 4-401(a) of the Uniform Commercial Code ("UCC").
At that time, the Indictment alleges, FELLEMAN and CHRISTI caused an altered check
for approximately $320,000 to be deposited into the Fleet account FELLEMAN controlled and then dissipated most of the proceeds before Fleet was notified that the check was altered.
ASD is a provider of end-to-end electronic check fraud-prevention solutions that enable financial institutions to provide significantly enhanced counterfeit, altered check
detection and positive pay capabilities to their corporate and middle-market business clients.
Advanced Software Design Corporation is a leading provider of end-to-end electronic check fraud prevention solutions that enable financial institutions to provide significantly enhanced counterfeit, altered check
detection, and positive pay capabilities to their corporate and middle-market business clients.
Carreker Corporation (Nasdaq:CANI), a leading provider of technology and consulting solutions for the financial industry, announced that it has formed an alliance with Advanced Software Design (ASD) Corporation, a provider of electronic check fraud prevention products to offer an integrated solution that enables financial institutions to provide significantly enhanced counterfeit and altered check
detection capabilities to their corporate and middle-market business clients.
Local Oklahoma Bank's Reconciliation and Internet Positive Pay offerings are the most effective tools on the market to help prevent check fraud by detecting altered check
amounts, duplicate checks, and forgeries.
With SENTRY: UltraCheck, detection of chemically altered checks
is automated, making it a much more efficient and practical preventative measure.
For cancelled checks it could be handwritten check endorsements, multiple endorsements, unsigned checks, or altered checks
, Hall said.
It soon found that other stolen and altered checks
, as well as counterfeit checks, were being negotiated against the company's account.
CheckStock, one of Parascript's newest fraud detection products, scrutinizes the placement of items on checks, allowing banks to identify even the slightest variations, minimizing acceptance of altered checks
The best defense against altered checks