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Modernizing Omnichannel Check Fraud Detection

BAI: Majority of Banks See Checks as Biggest 1st & 3rd Party Fraud Concern

October 25, 2022

Defining the balancing act between security and customer expectations Customers have grown to appreciate that minor inconveniences mean better security 62% of banks indicate third party check fraud is their biggest issue The latest BAI Deep Dive takes on “The fraud prevention balancing act: protection vs friction.” Much of the discussion involves changes seen in…

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Alogent: Why Payments Fraud Costs Are Up 10% from Pre-Pandemic Levels

October 18, 2022

41% increase in attempted fraud from 2020 to 2021 — 2022 NICE Actimize Fraud Insights Report Cost of fraud is up 10% from pre-pandemic Fraud can occur at any step in the user journey and from any device or workflow The proliferation of fraud across the globe is no secret. While numbers vary from source…

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Fraud/ol/ogy Podcast: Highlighting the Rise in Check Fraud

October 11, 2022

Check fraud is “the oldest fraud in America” Postal carriers are being physically assaulted “Supply and demand” of checks for fraud is elevated these assaults even further Fraud is a major topic throughout the business world. No matter the type — from retail to big tech — fraud remains one of the biggest challenges. This…

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Checking In on LinkedIn: The Latest #CheckFraud & #FraudFightersUnited Posts

October 7, 2022

LinkedIn — the world’s largest internet professional network — is a great way for professionals to connect with colleagues and other industry leaders, strengthening relationships to advance their careers. Over the past few years we’ve seen many of these professionals use the LinkedIn platform to take an active role in spreading news and content that…

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Consumer Financial Protection Bureau (CFPB) Tightening Rules for Fraud Money Transfers

October 4, 2022

Peer-to-peer payments services are being targeted by scammers Because the victim technically initiates the payment, banks in many countries refuse to refund losses incurred this way The CFPB may raise banks’ financial obligations to customers who lose money in a payment-services scam According to a report published in The Wall Street Journal, the Consumer Financial Protection…

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OrboNation Newsletter: Check Processing Edition – September 2022

September 29, 2022

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.

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66% of Bank Execs Perceive Complexity in Integrating New Fraud Tech

September 27, 2022

Insurance Business America cites a recent report from Featurespace, a provider of enterprise financial crime prevention software. It observes that the financial sector is facing a significant conflict in that financial crimes – especially scams – are increasing, while at the same time laboring under the perception that any solution means added complexity and compliance…

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Scam Alert: Fraudsters Exploit The Passing of Queen Elizabeth II

September 23, 2022

It’s no surprise that a major event — in this case, the passing of Queen Elizabeth II — has sparked another new fraud scheme. According to a report for Yahoo News: Proofpoint has identified a new phishing scam that aims to steal people’s Microsoft login details. The campaign relies on people’s sympathy for Queen Elizabeth II,…

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Mail Theft in Philadelphia Leads to Congressional Hearing

September 22, 2022

Philadelphia has become a magnet for mail theft Rampant mail theft targets check Lowered enforcement resources afforded to the Post Office may be the cause Over the past several months, we have covered the wave of mailbox thefts & mail carrier robberies that has plagued the US. In fact, according to data from the Postal…

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#CheckFraud & #FraudFightersUnited: Check Out the Latest Posts on LinkedIn

September 19, 2022

LinkedIn — the world’s largest internet professional network — is a great way for professionals to connect with colleagues and other industry leaders, strengthening relationships to advance their careers. Over the past few years we’ve seen many of these professionals use the LinkedIn platform to take an active role in spreading news and content that…

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