| Her $28 check was stolen, altered and cashed for $7,000 — how to prevent it from happening to you WEWS: Shankar Ramachandran, assistant professor of banking and finance at Weatherhead School of Management, provided his expertise for a story on banking fraud from checks being stolen from U.S. Postal Service boxes. “So the problem is not so much with the mobile technology but the validation process the bank employs,” he said, adding that for banks, it is about cost versus convenience because defrauded customers are required to get their money back. |
