Modernizing Omnichannel Check Fraud Detection

Fraud and cybercrime have been increasing Telegram has become a prime platform for threat actors to conduct various scams and distribute malware The fact that it is quick and easy to “set up business” on Telegram is a huge attraction We all seem to know at least one person who has been the victim of…

Mail theft is on the rise, and checks are being stolen for fraud The Post Office claims it is doing what it can to combat theft A CBS News investigation seems to show otherwise CBS News reports that while the US Postal Service claims to be applying “rigorous action” to the mounting problem of mail…

Check fraud continues to grow at an alarming rate PYMNTS reports Fed recommendation of electronic payment methods, or “instant disbursement” The data show less than 50% adoption of instant disbursement As we all know, check fraud continued to surge in 2023, and is likely to surge in 2024. A post at PYMTS.com reported estimates by…

There are common fraud tactics to look out for Check fraud is on the increase Consumers can stop fraud by being aware of certain telltale signs While many of our blogs take an in-depth look into different topics and trends surrounding check fraud, it’s important to remind ourselves of the various types of check fraud…

Michael Hsu backs FDIC’s proposal for increased scrutiny of bank mergers surpassing $100 billion Legacy systems in banking pose vulnerabilities that can be exploited by hackers during mergers Larger financial institutions are more reluctant to adopt open banking Mergers & acquisitions are commonplace in the banking. Whether it’s two financial institutions looking to strengthen their…

The United State Secret Service also investigates financial crimes Check fraud detection used much different methods in the 90s Check fraud is on the rise, but so is the effectiveness of AI tech designed to detect and prevent it Some may be surprised to see the Secret Service mentioned in conjunction with financial crimes. Don’t…

Check fraud is on the rise in the US Fraudsters have many methods at their disposal Direct engagement between banks and customers can help reduce fraud In an article at Refine Intelligence, Daniel Shkedi, Head of Product Marketing & Strategy at Refine Intelligence, opens with a flashback: Late one restless night in 2023, I found…