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| An interactive network for timely communications and loss prevention resources. |
The Loss Avoidance Alert System™ provides a network for timely information on bank security and potential losses to financial institutions from con artists, counterfeiters, forgers, ID theft, kiting, Nigerian schemes, money laundering, and other criminal financial activity.
Features of the Loss Avoidance Alert System™ include:
- Loss Avoidance Alert Database
- Alert Communications
- Crime Prevention Resources
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Loss Avoidance Alert System
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"The SWACHA alert system has alerted us numerous times to individuals that were currently banking with us and we have avoided taking losses on these accounts. We caught a potential internal kiting scheme between two customers when they arrived in the bank to make the transfer on the same day we received the alert! The biggest benefit to using this system has been that it trains our staff to be more aware of the potential problems of kiting, check counterfeiting, robbery, fraudulent accounts, stolen money orders and cashier's checks, etc. This benefit alone is worth the price!"
~Iris Paul, Branch Administrator
United Central Bank |
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"The SWACHA Alert system has been extremely helpful in helping Wells Fargo Bank reduce fraud losses. Several alerts we have received actually resulted in Wells Fargo Bank closing accounts prior to taking significant losses."
~Danell Yakich,
Wells Fargo Bank
Vice President and Manager of Texas/New Mexico Investigations |
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 Loss Avoidance Alert System™
SWACHA was honored for its campaign identifying Risk Management Services, and their role in fighting crime and fraud in financial institutions. News Release
Attorney General Lauds Formation of Statewide Fraud, Identity Theft Network News Release
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