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The way people search for information has changed Grok AI’s knowledge is tested “Check fraud” research is getting easier and easier “Google it” has become a phrase synonymous with “look it up” in today’s society. And why not? It’s easy and convenient to find quick answers to questions you may have. To say the very…
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.
Check usage has actually increased in recent years Checks persist for many reasons, including it’s role as an “easy solution” Retailers are actually moving away from cash Recently, data from AFP on business check usage noted that use of paper checks jumped from 75% in 2023 to 91% in 2024. Take On Payments, a blog…
A well-known fraud-fighter is hit with fraud The lesson: No one is immune from fraudsters Proactive identify protection is vital #FraudFighters has become a badge of honor in the industry. From industry experts to social influencers, it’s more important than ever to spread awareness of fraud and scams that are affecting business, financial institutions, and…
The USPS decision to dismantle the Postal Police has led to a rise in mail theft across the country. Mail theft has become an “epidemic” due to the lack of dedicated law enforcement. Large, organized crime groups are expanding their operations. The U.S. Postal Inspection Service (USPIS) was once a leader in preventing mail theft,…
President Trump issued an executive order calling for a shift by federal government agencies away from paper checks The deadline for this shift is September 30 The Center for Taxpayer Rights expressed concerns on behalf of underbanked and unbanked Americans As reported in Payments Dive, the U.S. Treasury Department is facing significant pushback after revealing…
Digital Banking provides many benefits Unfortunately, Digital Banking also introduces challenges There are three key areas to address when addressing this potential fraud avenue Jack Henry FinTalk features a post emphasizing that, while the shift towards digital banking has brought significant benefits, there have also been new challenges introduced when it comes to fraud prevention.…
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…
Small and “micro” businesses make up nearly 100% of all businesses These SMBs find themselves often underserved in the banking zone A Deloitte survey says SMBs want banking experiences that compare to retail Small and micro businesses (SMBs) make up over 99% of all U.S. businesses, but they are a largely underserved segment when it…
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…