Modernizing Omnichannel Check Fraud Detection

An employee used his access to software and accounts to steal money His inspiration came from the film OFFICE SPACE This scam was not his only scheme Movies can inspire many behaviors, both good and bad. For decades many bartenders, for instance, have been subjected to the request that a drink be “shaken, not stirred”…

A congressional report accuses fintechs of profiting from PPP loans These fintechs also ignored fraud prevention steps Speed was valued; accuracy was not Over the past few years, we’ve heard many stories surrounding PPP loans and fraud. However, the stories that typically hit the “headlines” were of businesses and their owners abusing the loan funds…

Over 20 states are sending inflation relief payments These payments are largely in the form of checks via mail Fraudsters will surely target the checks With inflation in the United States at 7.1% for the year ending in November 2022 — after rising 7.7% before that — there is some good news for citizens of…

Thieves are using multiple means to “fish” checks out of mail boxes It takes very little time to snag multiple pieces of mail, any of which could contain a check The Post Office recommends using mailboxes inside of a post office facility We’ve shared previous stories concerning check theft from postal carriers, including actual physical…

With the holiday season upon us, it is important that we remain vigilant against fraudsters. Luckily, #FraudFighters continue to spread the word on scams and fraud through LinkedIn. Check out the latest posts: View the post on LinkedIn → View the post on LinkedIn → View the post on LinkedIn → View the post on…

Despite the “digital savvy” stereotype, younger consumers are biting on digital scams The younger demographic also hesitates to store purchasing info online The 18 to 59 group are 98% more likely to get burned by paper check fraud Here’s an interesting question: Which cohort is more likely to fall victim to online scams – “Generation…

Post Offices workers and mailboxes are being targeted by thieves Media has begun to report more incidents The United State Post Office is taking preventative steps Members of Congress and postal officials have been sounding the alarm regarding growing crime and outright assaults against mail carriers, and now their concerns are borne out by Postal…

As our newly launched #OrboIntelligence Check Fraud Hub makes clear, check fraud is widespread and getting more sophisticated. It’s more important than ever to be vigilant and aware of telltale signs of fraud. During the discussions at the Check Fraud Roundtable, participants noted that over the past few years, the industry has seen fraudsters change…

Adoption of digital banking was relatively slow at first The pandemic greatly accelerated digital banking Banks that don’t address fraud effectively lose customers If adoption of digital banking and commerce was tenuous as first, a good deal of restraint was discarded when the pandemic took hold and visiting banks in person became impossible. And, of…