Check Fraud Survey Request from GA Dept of Banking

Financial institutions continue to experience rapidly escalating impacts from check fraud, but quantifying the industry impact is difficult as quarterly reporting does not capture direct or indirect check fraud costs and losses.  However, understanding the elevated and increasing financial impact is important to support efforts to evaluate and pursue possible multi-faceted solutions.  To begin to address the financial impact information gap, the Georgia Department of Banking and Finance (Department),Georgia Bankers Association (GBA), Community Bankers Association of Georgia(CBA), and League of Southeastern Credit Unions (LSCU) have partnered to encourage Georgia banks and credit unions to participate in a short survey designed to initially assess the impact to our industry.  Meaningful participation from banks and credit unions ensures that results best represent the industry and the true extent of the levels of fraud.  Most importantly, this will also provide the best opportunity for actionable insight.

The survey will take about 10 minutes to complete once the data is gathered.  Participating institutions will provide data to the Department, who will anonymize the data and create industry-level fraud impact analysis.  All data collected from participating institutions is collected for aggregation purposes only and distributed information will not be linked to any individual institution.  Information submitted to the Department is protected by the confidentiality protections in Official Code of Georgia Annotated§ 7-1-70.  The data is requested to be provided as of year-to-date September 30, 2023, so information can be aggregated and distributed to assist in upcoming legislative and budgeting activities.  The survey will close December 8, 2023.  The Department will provide results to all participating institutions, GBA, CBA, and LSCU by December 15, 2023.

Please email the completed survey to Director for Supervision Kevin Vaughn at kvaughn@dbf.state.ga.us. If you have any additional questions, contact Deputy Commissioner for Supervision Melissa Sneed at (770) 986-1646 or msneed@dbf.state.ga.us. 

• Georgia Financial Services Industry Fraud Survey.pdf