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Why does the P&C industry still issue paper cheques?

June 21, 2018 by David Gambrill

Why are brokerages and carriers still heavily reliant on sending out paper cheques, even when most of their clients likely don’t even own cheque books anymore? It all boils down to data. As inefficient and costly as they may be

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Supreme Court rules against Canadian banks in lawsuit arising from cheque fraud

October 30, 2017 by Canadian Underwriter

Despite a warning from lawyers that banks could be made “insurers against cheque fraud perpetrated by employees on their employers,” the Supreme Court of Canada announced Friday it has ruled against two banks that were sued by a company that

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Protection against cheque fraud losses one purpose of Bills of Exchange Act: Banks

October 23, 2017 by Canadian Underwriter

If the Supreme Court of Canada restores Friday a 2014 ruling made by the Ontario Superior Court of Justice, Canadian banks would be made “insurers against cheque fraud perpetrated by employees on their employers,” argue two Big 5 Canadian banks

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FBI warns of dramatic increase in business email compromise scams, says US$2.3 billion lost over two-year period

April 8, 2016 by Canadian Underwriter

The Federal Bureau of Investigation (FBI) in the United States has issued a warning of a “dramatic” rise in “business email compromise” scams (BEC) that has resulted in massive financial losses in U.S. cities. From October 2013 until February 2016,

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SGI CANADA issues warning over “mystery shopper” scam

March 28, 2016 by Canadian Underwriter

SGI CANADA is warning consumers about a “mystery shopper” scam involving fraudulent cheques that appear to be issued by SGI CANADA. Targeted individuals receive a letter from a third party claiming to be contracted by, and on behalf of SGI