Modernizing Omnichannel Check Fraud Detection

Banks and law enforcement have much to teach one another “Simple theft” is often the first step toward more sophisticated scams Check fraud is an easily accessible and “quick payback” scam methodology “Crime doesn’t pay” is a familiar statement. The deeper meaning is that the punishment outweighs the benefits. However, if we take the statement…

An exploration of the latest fraud trends Includes a step-by-step look at the manual marketing of fraud Yes, it’s true – fraudsters advertise their services to scammers In a new webinar presented by Abrigo, Mara Gibor, VP Of Intelligence Operations; Maria Noriega, Senior Cyber Threat Intelligence Analyst at Q6 Cyber; and Jess Kelley, Senior Cyber…

If you get a “wrong number” text, it may be a scam attempt Text scammers are very patient “I want to say she waited 20 days and a thousand text messages before she got into investments.” Many times we hear about scams and scammers that do their work quickly and move on. They rely on…

Walmart has a reputation as a “one-stop” shopping destination Toward that end, Walmart offers money transfer services Unfortunately, a lawsuit alleges they did not protect these transactions Walmart has enjoyed a reputation as the “one-stop” center for consumer needs, and, true to their reputation, they expanded into the money transfer space so their customers could…

Fraud attempts are down At the same time, the COST of fraud has risen A multi-pronged tech approach by banks eliminates fraud opportunities American Banker reports that data suggest in the beginning of 2022, the number of fraud cases being reporting has decreased from previous two years — nearing pre-pandemic levels. While many may see…

A new study examines general bank fraud Fraudsters are overtly advertising “fraud lessons” Checks remain a prime fraud target In their new expansion of The Business of Fraud: An Overview of How Cybercrime Gets Monetized, Recorded Future’s Insikt Group® — Recorded Future’s threat research division, comprising analysts and security researchers with deep government, law enforcement,…

Digital payments are becoming more and more popular Even so, checks remain a mainstay for many consumers Fraudsters never stop evolving, and neither should anti-fraud technology. As cited by an article at the ABA Banking Journal, the 2021 Association for Financial Professionals Payments Fraud and Control Survey indicates that checks remain the payment method most…