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Modernizing Omnichannel Check Fraud Detection

ACAMS: FIs Pivoting to New Tech as Fraudsters Overcome Traditional Check Fraud Detection Strategies

August 29, 2023

Recently, Fred Williams — reporter and journalist for the Association of Certified Anti-Money Laundering Specialists (ACAMS) — reached out to several check fraud experts, including OrboGraph’s own Chief Strategy Officer, Joe Gregory. For those not familiar with the association, ACAMS is a leading international membership organization dedicated to providing opportunities for anti-financial crime (AFC) education,…

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Why A Multi-Layered Technology Approach Is Needed For Check Fraud Detection

August 23, 2023

There is no single solution for check fraud detection Each solution plays a key, integrated role in check fraud detection Utilizing complementary technologies provides the most comprehensive check fraud detection strategy Financial institutions are in the unenviable position of taking on the brunt of check fraud. While, in an ideal world, banks could partner with…

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Check Fraud Today vs. The Past: Reviewing FBI Investigation of a Multi-State Check Counterfeiting Ring

August 22, 2023

Jerri Williams writes and podcasts about the FBI to “relive her glory days” Tim Gallagher, also a retired FBI agent, discusses “vintage check fraud” techniques Sending fraudsters to prison is a bit like sending them to get advanced degrees in fraud Jerri Williams, a retired FBI agent, author and podcaster who likes to joke that…

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Jack Henry & Associates: 50% Increase in AML Fines Levied in 2022

August 16, 2023

50% increase in anti-money launder fines and penalties levied on FIs in 2022 95% of AML execs are prioritizing AI and ML for AML Fraudsters “jamming the system” with massive amounts of attempts A post at Jack Henry Fintalk discusses Anti-Money Laundering strategies — and how a rising number of financial institutions are being penalized…

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FedNow: Should Financial Institutions be Concerned About the Lack of Fraud?

August 15, 2023

The FedNow Program launched on July 20th In 2008, the UK Faster Payments System launched – with some negative consequences These negative consequences were quickly addressed, offering an example for the U.S. system We’ve addressed in an earlier post the fundamental challenge of offering real-time payments in an era where fraud is rampant. The public has…

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OrboGraph Leads the Industry in Check Fraud Detection, Welcomes 8 New Partner/Clients

August 10, 2023

New partner/clients include four of the Top 30 banks, two data centers, and two fraud review platforms Burlington, MA, August 10, 2023 – OrboGraph, a premier supplier of check processing automation and fraud detection software and services, announced the addition of three new Top 30 Bank customers, two data center partners, and two new fraud…

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Check Fraud: A Revenue Generator for Financial Institutions?

August 9, 2023

Check fraud is growing quickly While check usage is down, it is certainly not out Investments in check security can make certain financial institutions more valuable to depositors The latest episode of The PaymentsJournal Podcast features Steve Bartels, Senior Director of Solutions Consulting at Q2, and Brian Riley, Co-Head of Payments at Javelin Strategy & Research, explaining…

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ABA Podcast: Struggles with Reimbursements Solved?

August 8, 2023

Check fraud and cyber fraud create a dangerous combination Financial institutions have seen check fraud double in the past year Knowing who to contact with a fraud claim is an important factor for banks being addressed The latest installment of the ABA Banking Journal Podcast features ABA’s Cybersecurity and Operational Risk VP Paul Benda and Certified…

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Congressman Reintroduces the “Postal Police Reform Act” to Fight Mail Theft and Check Fraud

August 2, 2023

We recently posted a story from news station NBC10 of Philadelphia focusing on rising incidents of mail theft and physical assaults against mail carriers. As Frank Albergo — the National President of the Postal Police Officers Association and a speaker at the Check Fraud Roundtable in May in Charlotte — points out in the segment, it…

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Mail Theft and Check Fraud Hit Mainstream Media: 71 Arrow Keys Missing in 5 County Area

August 1, 2023

Mail theft and check fraud is a hot topic within the banking industry, and mainstream media has picked up on the trend. Publications and news stations across the US report daily on specific occasions when this occurs, and news station NBC10 of Philadelphia recently did a deep-dive via their 10 Responds feature on the problem…

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