Wells Fargo launches anti-fraud initiative
Wells Fargo has announce a new anti-fraud initiative to protect its customers from fraudulent checks and ACH transactions.
"Not all bandits walk into banks and demand money. Behind-the-scenes thieves are also a threat," said Steve Ellis, head of Wells Fargo's Wholesale Services. "There are organized gangs of criminals printing counterfeit checks, altering payees' names on checks, and sending unauthorized electronic debits (withdrawals) to accounts. We're as committed to stopping them as Wells Fargo was to stopping stagecoach robbers in our company's early days. First and foremost, we want to protect our customers' assets."
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