orbograph
FinCEN reports a large increase in check fraud They characterize it as a “nationwide surge” Physical checks via mail theft seem to be favored targets The Financial Crimes Enforcement Network (FinCEN) has made it clear: There is a nationwide surge in check fraud, and it is targeting the US mail. “Criminals have been increasingly targeting…
Read More
Since its acquisition by Elon Musk, Twitter has certainly not lacked interesting storylines and speculation in the media. While most news up to now has dealt with employee discontent or technology issues, Twitter has made progress in deploying a payments option. As noted by Financial Times, Twitter has begun the process of applying for regulatory…
Read More
Forever a member of the OrboGraph family. It is with heavy hearts that we share the sad news that Valori Sue Queally, a member of the OrboGraph family, has passed away on February 22, 2023. Valori joined the OrboGraph family back in 2000, as one of the first US-based employees. She was fundamental in helping…
Read More
PYMNTS.com reports that there is a fairly glaring disconnect between credit unions and their members when it comes to fraud concerns. While members see a real threat, CUs do not seem to be responding in kind: Despite the growing fraud risk and subsequent member concern, many credit unions (CUs) do not appear to be actively…
Read More
Fraud has grown from creating TENS of millions in losses to HUNDREDS of millions Fraudsters can sell their wares digitally Now there are even refunds made available by fraudsters selling to new criminals Suparna Goswami, associate editor at the ISMG network, recently spoke to David Maimon, professor of criminal justice and criminology at Georgia State…
Read More
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.
Read More
In the digital era, we tend to think payments are all traveling via this or that payments app. However, the latest PYMNTS/Ingo Money collaboration, “Insurance Disbursements Brief 2022,” noted the surprising prevalence of paper checks used for healthcare claim payments or disbursements. As reported at PYMNTS.com: This is particularly key because healthcare disbursements represent the…
Read More
Check fraud is growing ahead of other types of fraud Banks using only legacy fraud detection systems are falling behind Integration of legacy and image analysis systems brings greater success in fraud detection In a new video at FraudToday.io, Trace Fooshee, strategic adviser with Aite-Novarica Group, discusses strategies and tools to detect check fraud, and…
Read More
Check fraud is rising Banking consumers demand “money mobility” Adding “money mobility” means increasing the risk of fraud As we’ve noted here frequently, check fraud is on the rise. In fact, PYMNTS.com notes that you can enter the search term “check washing” into any search engine and see a substantial number of headlines that have…
Read More
The growth and ubiquity of digital banking is good news for financial institutions, as digital banking availability and usage has been shown to drive customer loyalty and provide a host of other benefits. Fueled by the pandemic, digital banking is now the most popular method for users to perform their financial banking needs — from…
Read More