Modernizing Omnichannel Check Fraud Detection

There are 10 recommended warning signs that signal check fraud None of the warning signs require special equipment to detect Bank tellers, however, cannot be expected to get through the checklist on a busy day Spotting a fraudulent check is not an easy task. Fraudsters have finely honed their craft, and even the most seasoned…

The business world is tangling with “a startling resurgence in check fraud” Going digital has advantages- but many won’t until they are victimized Implementing Payee Positive Pay service is essential The Bottomline blog pulls no punches with the title of its latest entry, How to Beat Check Fraud: Go Digital, Get Positive Pay, or Get…

Scammers are using “mules” to pass bad checks Some “mules” are unaware that they are aiding a scam There are risk factors to look for when detecting mule-aided scams Sarah Cassidy, a senior consultant at FICO specializing in fraud, takes a look via the FICO Blog at money mule fraud, a major and growing problem…

Check fraud looms large for financial institutions Post offices and carriers are targets of check theft A holistic solution is the best approach Yes, you read the title right. In a new podcast from the ABA, Glenn Fratangelo, Director, Product Marketing, NICE Actimize, opens the interview with Patrick Smith, SVP, Fraud Operations, ABA, with the…

Recording Future monitors 700 Telegram Channels for Stolen Checks in H1 2024 85% of stolen checks are likely “reposts” High concentrations of stolen checks are in metropolitan areas Telegram is a major communication channel leveraged by criminals due to its encryption and anonymity. This makes it an attractive method for selling stolen checks. Previously, we…

IRS is prepped for the 2025 tax season The organization has had a boost in number of personnel The IRS plans to fight AI with AI The 2025 tax season is now upon us, and we all know what that means…fraudsters are ready to pounce on billions of dollars in tax refunds. In 2023 to…

Payments fraud continues to be a growing problem Smaller financial institutions face bigger challenges Practical fraud prevention measures are available for small banks and credit unions Our friends at Advanced Fraud Solutions kicked off the new year with recommended strategies for credit unions and community banks to combat mobile check deposit fraud in 2025. The…

Post Office “Inside Jobs” are a concern New hires may be involved in activities like mail theft, fraud, and other criminal acts “As bad as you think it is, it’s much worse!” It looks like the U.S. Postal Service is being infiltrated by “opportunistic” new hires who are not interested in delivering mail, but rather…