Modernizing Omnichannel Check Fraud Detection

Should the financial industry continue requiring fingerprints for check deposits? While effective, there are pros and cons attached to the practice Fingerprint technology introduces numerous hurdles Last week, OrboGraph’s own James Bi was guest speaker at Finovifi’s “Beyond the Vault” Webinar series, covering the check market, check fraud data and trends, and how FIs can…

Top financial crimes in America are ranked “Fraud geography” is also noted The most common variety: check fraud In a recent article from Visual Capitalist, author Julia Wendling takes on the task of ranking the top financial crimes in America. And, as you may have guessed, check fraud is ranked number 1 of most common…

The NICE Actimize annual report on fraud is available Check fraud attempts are for larger dollar amounts than any other fraud attempt NICE Actimize recommends key areas of improvement for financial institutions to consider In a recent press release, NICE Actimize published its annual report on fraud, based on 2024 data. The report, entitled “2025…

Check fraud is a major issue for financial institutions and their customers It is also the most common type of fraud experienced by financial institutions 94% of financial institutions & their customers experienced check fraud according to a Bank Director survey You read the headline right. According to a recent survey entitled Bank Director’s 2025…

Financial institutions face major hurdles in combating growing payments fraud A “perceived legal barrier” makes it difficult for banks to share information We are seeing some steps for collaboration Payments Dive reports that financial institutions are facing a major challenge in combating the growing threat of payments fraud, particularly push-payment scams, business email compromises, and…

America’s Credit Unions is an industry group Regulation CC is under discussion FIs & credit unions have tools available to reduce check fraud attempts and losses The America’s Credit Unions group is advocating for updates to Regulation CC in order to better combat persistent check fraud risks. Regulation CC is, of course, a key federal…

Project Safe Delivery is the USPS Initiative to fight back against mail carrier and mailbox robberies The USPS recently published a report entitled Security and Efficiency of the New Carrier Scanners and Electronic Locks, A close look at the report reveals startling failures in process and procedure A major component to Project Safe Delivery —…

The United States Government is addressing fraud A bipartisan bill, the Recognizing and Averting Payments Scams (TRAPS) Act, has been introduced 2.6 million consumers reported fraud incidents in 2024 We’ve seen recently the U.S. Government and its agencies stepping up to take on financial crimes. For check fraud specifically, there were several actions taken, including:…

Businesses need to be more aware of check fraud danger Pushing digital payments is not the answer Real-time fraud monitoring and AI are effective tools While most financial institutions are aware that check payments are more susceptible to fraud, it appears that businesses do not share the same belief. We recently covered the 2025 AFP…