Modernizing Omnichannel Check Fraud Detection

The Milwaukee Business Journal hosted a Table of Experts to explore Check Fraud While the number of checks has gone down, their individual value has gone up A.I. is growing more and more integral to spotting fraud During the most recent Milwaukee Business Journal’s “Table of Experts” discussion, a group of industry experts gathered to…

Check deposit fraud is rising, with criminals targeting business accounts. Bank branches see most check fraud due to less staff training Better training and AI are key to stopping check fraud Check fraud is on the rise across the United States, with metro areas emerging as key hotspots. The main reason is the concentration of…

Gen Z is becoming recognized as a prime fraud target A quarter of Gen Z fraud victims do not report incidents Financial institutions have stepped up educating their customers WebWire’s report on the latest Barclays Scams Bulletin has revealed a worrisome trend among Gen Z: A striking 35% of young adults would be willing to…

Financial crime data for 2025 is sobering These crimes are interconnected A FRAML approach to fraud strategies is recommended As digital and financial environments continue to evolve, so do the fraud threats that face American consumers. In a recent post from Forbes, Dr. David Maimon paints a sobering portrait of consumer-targeted financial crime in 2025,…

Companies lost 7.7% of their annual revenue to fraud in the past year The United States has a fraud loss rate that is 27% higher than the global average U.S. House Committee on Financial Services recently convened to discuss the issue Fraud is inflicting record-setting damage on businesses worldwide, according to TransUnion’s H2 2025 Global…

Major populated regions and business attract more check fraud A look at which states rank highest for check fraud per 100K population New tools offer a path to lower fraud incidents in the future Back in May of this year, we wrote a post pointing out which regions of the USA were “hotspots” for mail…

Banks and credit unions are rapidly adopting AI to fight fraud Check fraud is evolving quickly AI-powered fraud detection systems are fighting back The accelerated shift from paper checks to digital payments is transforming the landscape of fraud detection, as highlighted in the Wrestling Payments podcast featuring Brian Keefe, Manager of Portfolio Pre-Sales at Nice…

The ABA has relaunched campaigns to educate consumers The new theme is “Snap Out of It” Some of the video messaging may be misconstrued The American Bankers Association (ABA) has relaunched its award-winning consumer protection campaigns, #BanksNeverAskThat and #PracticeSafeChecks, in 2025 to bolster the fight against fraud. These initiatives, involving over 2,500 banks across the…

AI is making a huge impact on how FIs deal with fraud The account holder is now point of focus Explainable AI (XAI) is growing in importance Artificial intelligence (AI) is dramatically altering the way fintech approaches fraud detection, as highlighted in a recent post entitled “The Role of AI in FinTech Fraud Detection” from…

A U.S. government subcommittee is looking into financial fraud There has been a call to action by multiple elected officials Collaboration is key to stopping check fraud The Oversight and Investigations Subcommittee of the U.S. House Committee on Financial Services recently convened to address the alarming rise in financial fraud targeting American consumers. The hearing,…