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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.
The “humble paper check” remains a formidable tool “Soft costs” need to be considered AI tech makes processing checks remarkably efficient Outdated payment systems are catching up to businesses, but there’s one method that just won’t quit: the humble paper check. In their insightful discussion on PYMNTS TV, industry leaders reveal why, even as digital…
Fraud fears are slowing real-time payment adoption despite lower actual fraud rates. Most RTP fraud incidents are minor, thanks to modern detection systems. Advanced AI tools are making RTP safer and boosting confidence in adoption. Widespread anxiety about fraud is hindering the full-scale adoption of real-time payments (RTP) in the U.S., according to a recent…
“Money mules” are a much-used tool in fraud operations “Mule operators” are evolving along with technology Behavioral analytic systems are key for detection mule activity Money mules are a major component of fraud operations of organized crime rings. From opening legitimate accounts at financial institutions to depositing and extracting funds, they can be characterized as…
The banking industry’s primary challenge is not reinventing core processing systems Effective integration with modern, customer-facing technologies is the key Not all banks are ready to undertake the expense and upheaval of a core conversion According to a recent opinion piece on the BAI website by Mike Nicastro, CEO and principal of Coppermine Advisors, LLC., the…
Social media is promoting a “deposit hack” This “deposit hack,” unfortunately, is simply check kiting Consumers must be careful about financial advice via non-credentialed sources Social media is known for resurrecting old trends, bringing nostalgia to the older generations and exposing them to the newer generations. Unfortunately, social media appears to be resurrecting some old…
A Valid Systems webinar explores Fighting Check Fraud in Real Time Session guests include Frank McKenna (FrankonFraud), Ronald Praetsch (About Fraud), La Shonna Sharp and Nickolas Ledford (VALID) Positive Pay can be “supercharged” for increased effectiveness Among those in tune with the check fraud landscape, there are some who strongly advocate Positive Pay as the…
Some banks are struggling to modernize outdated systems. Customer expectations demand that banks keep up. Many financial institutions are able to modernize through various partnerships According to a recent Samsung Business Insights article, banks are struggling to modernize their outdated legacy technology systems, which are holding them back from delivering the seamless, personalized customer experiences…
the United States Federal Reserve has created and published two valuable new resources The Fed are proponents of a multi-layered tech approach Educating the industry is vital Recently announceed via LinkedIn, the United States Federal Reserve has created and published two new resources – the Check Fraud Mitigation Toolkit and Scams Mitigation Toolkit. Both are…
There are several security symbols on checks that can help detect fraudulent checks. These include microprinting, multi-colored backgrounds, and chemical reactive check stock OrboGraph’s upcoming Innovation Conference and Check Fraud Roundtable explore these issues, among many others A few weeks ago, we took a look at the re-emergence of check security symbols, noting that fraudsters…