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X Marks a Spot in Payments — Maybe

January 25, 2024

Elon Musk, who now owns Twitter (rebranded as X), plans to launch a peer-to-peer payments feature on the platform in 2024. Musk said he expected payments to launch by mid-2024 pending regulatory approvals from states. Approvals from California and New York are seen as particularly important for the payments launch. Back in April of 2023,…

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Top 5 Essential Check Fraud Detection Software

Top 5 Essential Check Fraud Detection Software: A Necessity for Banks

January 24, 2024

As leaders in the field of bank check fraud detection and prevention, we understand how crucial it is for banks to protect their assets and customers. Given the evolving methods of fraudsters, banks must be equipped with the latest technology to stay ahead and maintain security. In this article, we’ll discuss the top five essential…

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How and Why mRDC is Exploited by Fraudsters

January 24, 2024

Having read an article published by ABA on their Risk and Compliance portal titled “The Dangers of Mobile Remote Deposit Fraud,” David Peterson, Chief Innovation Officer, Speaker, Facilitator and Advocate for Metacognition!, purports to discuss the dangers of labeling mobile remote deposit capture (mRDC) as the source of check fraud. He presents the following scenario…

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Examining the Deposit Fraud Trends in 2024

January 23, 2024

Deposit fraud prevention is crucial for protecting account holders and the institution’s reputation Check fraud and mobile deposit scams are on the rise, with mobile banking usage and mobile fraud both increasing Scams targeting older generations and tech-savvy individuals are also getting more common Advanced Fraud Solutions has released their 2024 Deposit Fraud Trends Report —…

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Check Fraud software

How Check Fraud Software Revolutionizes Security Measures: A Concise Overview

January 23, 2024

As a leader in bank check fraud detection and prevention, we recognize the increasing challenges banks face when it comes to protecting their customers and themselves from financial fraud. With the rise in mobile banking and continued use of traditional deposit methods such as ATMs and teller transactions, there is a heightened focus on ensuring…

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Alogent’s 2024 New Years Resolutions for Mobile Banking

January 18, 2024

Wendi Klein, VP of Marketing at Alogent, asks if 2024 just might be the time to take an even more serious look at mobile banking and suggests the best ways to take advantage of what has by now become an expected banking feature: With the kick-off to 2024, it’s an opportune time for financial institutions…

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FrankonFraud: Ten – no, Eleven – Fraud Predictions for 2024

January 16, 2024

Review of fraud in 2023 — SARs forecasted to exceed 2022 11 fraud predictions for 2024 Image forensic AI key technology for decreasing check fraud losses in 2024 Fraud in 2023 saw an increase in almost every possible channel. And, while we are able to look at past historical data for each payment channel, it’s…

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Millennials and GenZ: The Newest Check Writers?

January 11, 2024

In the newest segment of their “I’ve Always Wondered” series, which addresses questions many of us have about the economy and spending habits, Marketplace tackles the question: “Why do we still use paper checks?” For insight, they consulted experts. There are a slew of reasons explaining our continued check use. Many check writers have had…

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ABA Journal: Integrated Anti-Fraud Approach Critical for 2024 Success

January 10, 2024

Check fraud doubled in 2022 Counterfeit checks are easy to create Checks are still widely used, giving fraudsters a big target ABA Risk and Compliance takes a look at check fraud, a persistent challenge for banks with reported cases doubling in 2022. The article highlights the three primary fraud techniques at work today: Counterfeit checks…

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Technology and Collaboration: The Foundation of a Strong Check Fraud Strategy

January 9, 2024

Check fraud is growing and becoming more sophisticated Technology is keeping up with fraudsters Careful implementation of anti-fraud tech is vital to staying ahead of fraud innovations Sherah S., Head of Legal, Risk, and Compliance at CheckAlt, recognizes that check fraud is growing more and more common and accessible to fraudsters. That doesn’t mean financial…

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