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Strategies to Tackle First-Party Fraud and Mule Activity

March 13, 2024

Rob Rendell, Global Head of Fraud Market Strategy & Fraud Prevention – Subject Matter Expert at Nice Actimize, offers a detailed overview of First-Party Fraud and Mule Activity, two unnervingly popular scam methodologies. First-party fraud (FPF) is when the fraudster doubles as a customer. Fraudsters will open accounts for the specific purpose of executing their…

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Predictive Intelligence: “Game-Changer” for Preventing Payments Fraud Attacks?

March 12, 2024

Predictive Intelligence has emerged as a valuable tool against fraud Even with many new payment methods available, checks remain popular fraud vehicles Predictive Intelligence anticipates the risk of fraudulent payments Payments Journal reports that Predictive Intelligence has emerged as a valuable tool for financial institutions in their efforts to mitigate fraud attacks on payments. Unfortunately,…

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OrboGraph Introduces OrboAnywhere Sherlock Version 5.3 to Address Increasing Check Fraud Attempts

March 11, 2024

Massive feature expansion delivers improved detection with reduced false positives Burlington, MA, March 11, 2024 – OrboGraph, a leading provider of check fraud detection and image recognition solutions, is excited to announce general availability of their new OrboAnywhere Sherlock 5.3 Release. Sherlock 5.3 provides a powerful list of new weapons which will assist financial institutions…

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Writing Checks: Good for the Brain

March 7, 2024

Writing checks may seem antiquated. However, there are many advantages, including having a paper trail for your payment and the “buffer” time from sending to depositing. Here’s another advantage that comes from making sure people are comfortable using checks that you may not have considered: Checks can actually make you …. smarter. Well, it’s specifically…

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Dressed to Steal: Fake Letter Carriers Commit Postal Theft

March 6, 2024

Frank Albergo, National President of the Postal Police Officers Association, recently reposted via LinkedIn an item found by David Maimon, Professor at Georgia State University and Head of Fraud Insights at SentiLink. As Mr. Albergo relates: Crime evolves and criminals adapt. Obviously mail thieves want to avoid detection and arrest. A United States Postal Service letter…

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US Treasury Leverages AI to Recover $375M…A Small Drop in the Fraud Bucket?

March 5, 2024

CNN reports that the US Treasury Department has begun using artificial intelligence — or AI — to detect fraud and recover funds, adopting techniques already widely used in the private sector. Starting around late 2022, the Treasury Department began using enhanced fraud-detection methods powered by AI to spot fraud, CNN has learned. The strategy mirrors…

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OrboNation Newsletter: Check Processing and Fraud – February 2024

February 29, 2024

In case you missed it, over the past month, we have published incredible content on our OrboNation Blog and Modernizing Omnichannel Check Fraud Detection. Review the latest OrboNation Newsletter online or via PDF download.

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Check Cooking Lab: Low Investment, High Return

February 28, 2024

“Check cooking” is on the rise Florida’s Attorney General has issued a warning Initial investment for deposit fraud is surprisingly low Florida’s Attorney General, Ashley Moody, recently issued a warning about a digital check manipulation or “check cooking” scheme where fraudsters alter stolen checks to change the payee and payment amount. The warning comes in…

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Learn the Lingo: The Fraudster Glossary

February 27, 2024

Like many clubs or societies, fraudsters have a language all their own Some slang terms are obvious, while others are very oblique A valuable online Fraud Glossary resource is growing by the day People who share a common hobby or vocation often have a “lingo” of their own that they use to streamline communication and…

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Over Half of All Banks Express Concern About Legacy Tech Dependency

February 22, 2024

Over half of bank execs polled are concerned about dependency on legacy technology The same execs have a positive outlook for 2024 Less than 8% of the execs polled expect to reduce their tech spending in the coming year Monitor Daily reports on a survey of over 100 bank executives which found concerns about dependency…

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