Fraud articles reaction paper

Bank Check and Credit Card Frauds Student’s Name Institution Course Number and Name Instructor’s Name Date Bank Check and Credit Card Fraud Bank check and credit card frauds are major challenges facing the banking sector with billions of money being lost to fraudsters annually. I examined four articles on bank check and credit card frauds and it is clear that the ability to protect customer’s money and personal information is a major point of competition. Banking institutions that are susceptible to fraud incidents risk losing customers. The case of Gay Wandel as reported by Vidal (2024), is a key example of bank check fraud. After putting an advertisement on Craiglist selling her cherished piano for $1,800, Wandel was contacted by a buyer who mailed her a $3,600 check. Wandel was supposed to use the balance to pay movers collecting the piano. Believing the check was genuine, she mailed money orders totaling $1,700 from her account to the movers. The check turned out to be fake and now Wandel urges people never to take a check from anyone. This case highlights the difficulty by bank customers to differentiate between fake and genuine checks. While people need to be extremely careful when selling items online, banks need to take measures to educate their customers. When John William Pollard wrote a check of $84.83 to Verizon for phone bill payment, he had no idea that he would lose $45,678.12 to fraudsters (Samuels, 2024). The check he had sent to Verizon was stolen in the mail, the amount written changed, and the money cas...