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Xerox Helps Financial Institutions Fight Duplicate-Check Fraud
NORWALK, Conn. —*Xerox is working with financial institutions to reduce the estimated $1.1 billion in U.S. check fraud[1]*through a new service that detects duplicate checks prior to processing payment.
Duplicate payment processing occurs when a check is deposited to an account more than once – for example, via an electronic check-imaging deposit and then at a bank branch – causing the check issuer to pay more than the original amount.
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