John Ramage, Troy Bank & Trust’s EVP, was the guest speaker at the Brundidge Rotary Club on Wednesday, March 26 at the historic Bass House in Brundidge. His presentation included check fraud, which is a concern of many of those who continue to use checks as a way of payment and record keeping.

“Community banks play a crucial role in combating check fraud, which has seen a significant rise in recent years,” Ramage said. “In fact, the number of suspicious activity reports submitted has risen over 200% between 2018 and 2022. In 2024 the banking industry reported over $24 billion in losses related to check fraud, collectively.”

 “Community banks often have close relationships with their customers, allowing them to detect unusual activities more effectively, Ramage said.

“This personal connection helps in identifying and preventing fraudulent transactions, Community banks work together with other financial institutions, law enforcement, an regulatory bodies to share information and best practices. This collaborative approach helps in tackling check fraud more efficiently,”

Many community banks are adopting advanced technologies and innovative solutions to detect and prevent check fraud. Ramage said. “This includes using sophisticated software to monitor transactions and identify red flags.

Community banks educate their customers about the risks of check fraud and provide tips on how to protect themselves. This proactive approach helps in reducing the chances of fraud.”