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Modernizing Omnichannel Check Fraud Detection

Check Fraud: Stolen Checks Open the Door for Identity Theft

September 13, 2023

Checks are a storehouse of information for fraudsters Identity theft can be aided by check information There are steps consumers can take to avoid identity theft via checks In an overview of the ins and outs of check fraud, Experian points out that this type of fraud won’t necessarily impact your credit. However, they warn…

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Check Baking: More Dangerous Than Check Washing?

September 12, 2023

A new YouTube video by Debra Richardson, who specializes in providing vendor process guidance to avoid fraud, fines, and bad vendor data, identifies a particularly pervasive form of check fraud called check baking. She explains that whereas “whitewashing” checks entails erasing and replacing information on a check, check baking involves taking a picture of a…

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Financial Crimes: FIs Need to Improve Fraud & AML Response Times

September 5, 2023

The US accounts for a huge percentage of global money laundering Online check fraud communities have contributed A very large percentage of money laundering cases go undetected Financial crimes encompass all payment channels for financial institutions. Unfortunately, many FIs still continue to silo different facets, including AML and check fraud. While this separation enables operations…

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OrboNation Newsletter: Check Processing and Fraud – August 2023

August 31, 2023

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.

Read More AI Reduces Loss Shares of Annual Sales to Fraud by Nearly 50%

August 30, 2023

Artificial Intelligence is major topic across all industries. We are seeing AI performing remarkable feats — everything from automating processes to creating new pieces of art. In contrast, there are those individuals who are utilizing AI for nefarious purposes. discusses how, the world of banking, AI offers the same sort of conundrum. While AI…

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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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