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OrboGraph’s James Bi recently spoke at a conference about check fraud detection tools Image Forensic Technology is a powerful weapon against fraud Is AI replacing forensic document examination for banks? No! OrboGraph’s Marketing Manager and Check Fraud Detection Specialist James Bi was recently a featured speaker at the 2024 Scientific Association of Forensic Examiners Conference…
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Consortiums have been seen as a good tool against fraud However, consortiums create challenges of their own Check consortiums are unique and are less affected than other fraud consortiums Consortiums have been a major resource in the fight against check fraud. Many financial institutions are leveraging consortiums like Advanced Fraud Solutions TrueChecks and Early Warning…
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Positive pay is not a new innovation for fighting check fraud. Many financial institutions offer this service through Treasury Management; with the increase in check fraud, many businesses have deployed this solution to mitigate check fraud losses. As noted in a blog post from our friends at Advanced Fraud Solutions: Standard Positive Pay: This basic…
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Banks that do not evolve will likely fail Job One is to keep up with the currect digital transformation “Intelligent interactions” represent the future of banking Derek White, the CEO of Galileo, a fintech pioneer with over 20 years of experience modernizing financial services globally, recently contributed his thoughts via Forbes regarding how to “future-proof”…
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A new AI “superhero” has been introduced Claude.AI is a new analysis tool being called a “game changer” This innovation represents a new partner in effectively preventing fraud For nearly a decade, we’ve heard about the potential of artificial intelligence for the bank industry and how it is a “game-changer.” For checks processing and fraud…
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Even as digital payments gain popularity, paper checks remain prevalent Businesses and customers alike still regularly use checks Fraudsters exploit the anonymity of depositing checks through ATMs or mobile devices, which adds complexity to tracking We have previously noted that the rise in check fraud can be traced back to the deployment of EMV chips…
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Farmers have, by necessity, a unique relationship with paper checks They also wait days, if not weeks, for paper checks to clear End-user education is a crucial approach In a new blog post and video, PYMNTS points out that “the only thing bigger than the agriculture sector’s contribution to daily sustenance could be its reliance…
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New malware designed for Android phone users Fakecall software redirects calls to scammers Download apps only from official stores — do not allow installations from unknown sources During the pandemic, we saw a shift of banking customers — who, at the time, could not or would not go to their local branch — utilizing…
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Fraud continues to rise Fraudsters are now utilizing AI to strengthen scams The battle between AI-powered fraud and AI-powered fraud detection is only just beginning Recently, OrboGraph’s Marketing Manager and Fraud Detection Specialist, James Bi, had an interesting conversation with an industry expert on mRDC and Check Fraud. The expert noted that “Fraudsters are one…
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CFPB has finalized a transformative open banking rule under the Dodd-Frank Act The rule allows consumers to control their financial data and share it with third-party service providers Compliance will roll out in phases based on institution size As we noted previously, Open Banking is a hot topic for financial institutions. It allows consumers to share…
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