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Money mules are a critical operational link in fraud and money laundering, including check fraud. Many mules are recruited through social media and job scams, and some do not realize they are committing a crime. Banks need connected intelligence, continuous monitoring, customer education, and layered check fraud technology to reduce losses. Money mule activity is…
Fraud is moving faster as criminals use AI to scale attacks and exploit gaps in traditional controls. Fintechs and financial institutions are responding with layered AI strategies that combine identity verification, behavioral analytics, biometrics, and shared intelligence. Check fraud is a strong example of why AI matters because detection now depends on image analysis, payee…
Every few years, someone in the payments industry declares the paper check dead. And every few years, the data disagrees. According to a study from the Atlanta Federal Reserve, as much as 83% of small firms with up to $10 million in annual revenue and 80% of “very small” firms with up to $1 million in revenue still use…
Check fraud is seasonal, with the biggest spikes tied to tax season. While the administration has eliminate most check disbursements, the IRS continues to accept paper check payments Different technologies are needed to detect check fraud Fraud rarely stands still. It follows volume, behavior shifts, and operational blind spots. Even as digital payments continue to…
Agentic AI shifts fraud teams from reviewing alerts to supervising AI-driven investigations and focusing on high-risk, complex cases. AI can streamline check fraud investigations by gathering evidence across multiple systems and presenting investigators with complete, actionable case summaries. Intelligent Banking connects fraud, payments and core banking data, enabling AI to automate routine investigations while enhancing…
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.
FIs Spend Up to 40% of Analytics Resources Just Cleaning Data. What Are They Missing While They Do? Every transaction processed, every check deposited, every loan application submitted generates data. Financial institutions sit on one of the richest data assets in any industry. But volume isn’t the same as value and bad data doesn’t just create errors. It…
The STOP Payments Fraud Act gives banks more time to investigate suspicious payments. Extended holds on flagged checks and wires balance fraud prevention with faster availability. Banks must update policies, technology, and workflows to fully leverage the longer review window. PYMNTS recently highlighted a new House bill that could quietly change the way financial institutions…
FinCEN lets banks share suspected fraud data under Section 314(b) safe harbor. Guidance promotes real-time, cross-institution fraud alerts to disrupt fast-moving scams. Richer signal sharing improves detection and protection for institutions and customers. Recently, we posted about warnings from the International Monetary Fund (IMF) that fraudsters thrive when FIs aren’t sharing data. The IMF argued…
Real-time payments adoption is lagging, with ERP and back-office integration as the main barrier. Checks still dominate B2B payments despite faster, modern rails. FIs can support checks while automating processing with AI for cost and efficiency gains. The industry has been proclaiming the benefits of real-time payments, and how they will be the “death of…