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Robust consortium data set currently includes 2,500 institutions and 25,000 routing numbers Burlington, MA, June 11, 2024 – OrboGraph, a premier supplier of check processing automation and fraud detection software and services, announced the successful integration of Advanced Fraud Solutions TrueChecks® within its OrboAnywhere Sherlock 5.3 release as part of an open consortium strategy to…
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Open Banking is already popular worldwide The United States is late to adopt Open Banking Regulation is priority on to ensure consumer and bank safety After a late start, it looks like the United States is finally ready to adopt Open Banking. Open banking, a system that allows consumers to share their financial data with…
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Mr. Abagnale was an infamous fraudster before “going straight” The film Catch Me If You Can is based on his life As a fraud-prevention consultant, Mr. Abagnale warns that check fraud is now easier than ever Who better to give fraud-avoidance advise than a famous (infamous) ex-fraudster? Steve Hines of ThreatAdvice sat down with Frank…
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The elderly are becoming favored targets of fraudsters An FBI report reveals “astonishing” numbers International scammers are now prevalent Unfortunately — and not unexpectedly — fraudsters are taking aim at older Americans. As CBS News reports, “Elder Fraud” is becoming more and more popular. According to the FBI, older Americans were targeted more frequently last…
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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.
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Neobanks are gaining popularity Certain accounts are not FDIC-insured Bank consumers are being transferred into vulnerable accounts without notice The American Prospect features a rather alarming story illustrating the higher risk faced by neobanks as compared to conventional financial institutions, and the dangers for FIs partnering with unstable companies. One example: because so much fintech…
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Tech Against Scams is a new anti-fraud consortium Escalating fraud leads to needed coordination among social media, dating apps, financial institutions, and crypto firms About a third of Big Tech and FinTech firms have experienced fraud in recent months PYMNTS.COM reports on Tech Against Scams is a newly announced anti-fraud consortium that includes crypto companies…
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A growing number of FIs deploy machine learning and AI to fight back against fraud Steep declines in fraud are noted However, less success is noted in preventing charitable-donation and fake debt-collection scams According to PYMNTS Intelligence’s “Leveraging AI and ML to Thwart Scammers,” a report created in collaboration with Hawk, a growing number of financial institutions (FIs) are…
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Recently, OrboGraph hosted its fifth — second “in-person” — Check Fraud Roundtable session and first-ever Innovation Conference at the Hilton Tampa Downtown. Needless to say, it was a huge success. These two distinct meetings brought together check fraud professionals from financial institutions and representatives from leading fraud solution providers and service bureaus. The conferences addressed…
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Highlights Include Check Fraud Trends, SARs Analysis, OrboAnywhere Sherlock 5.3, and Deposit Fraud Burlington, MA, May 23, 2024 – OrboGraph, a premier supplier of check processing automation and fraud detection software and services, reports successful Check Fraud Roundtable and Innovation Conferences on May 14-16, 2024, at the Hilton Tampa Downtown. These two distinct meetings brought…
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