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Generative AI is gaining popularity for its ability to quickly create images, audio, and text The ability to quickly create realistic images introduces check fraud opportunities The FTC is aware of this potential and is taking steps By now most people have read, heard, or seen the fruits of Generative AI, a technology that is…
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Banks need to keep up with fraudsters by adopting technology A group of prominent check fraud experts predicts $24 million in fraud damage to banks Automated check fraud detection is absolutely crucial Todd Robertson, senior vice president of business development for ARGO, contributed a post to BAI.org outlining his contention — with which we tend…
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Apple is well known for staying one step ahead of technology trends. Since the launch of its iTunes® Music Store in April of 2003, we’ve seen the tech giant continue to penetrate the payments arena. Apple made its biggest contribution to tech when it launched the first iPhone in January of 2007. While it was…
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Artists are targets for the “Muse Scam” Scammers will present themselves as “helpful middlemen/agents” Reddit saves individual from becoming a victim of a fake check scam The targets for fake check scams know no bounds. This scam takes advantage of individuals who are not familiar with the funds availability rule within their banks. By the time…
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Paper checks are the primary weapon in the world of B2B fraud B2B fraud is forecasted to increase, with paper checks leading the way Businesses disagree as to how to fight check fraud When it comes to business-to-business (B2B) payment fraud, checks lead the field. This is according to an article from Digital Transactions reporting…
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McKinsey Digital weighs in with suggestions for how banks can modernize legacy systems to help them reduce IT costs and complexity while improving productivity in a competitive environment. Even before the onset of the COVID-19 pandemic, persistently low interest rates had increased pressure on banks to reduce their IT costs. The pandemic exacerbated this issue,…
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Check fraud is not only a problem — it is the #1 problem for banks today New data reveals a breathtaking jump in check fraud Check fraud reporting is now less comprehensive than it once was “It’s clear now,” says Frank on Fraud in his latest blog post. “Check fraud is the #1 problem for…
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Abrigo’s new report cites the “dark web” as a driver for fraud Potential check fraud of all types nearly doubled in 2022 Tech solutions are crucial in stopping check fraud attempts Modern day success owes much to technology. The advent of the computer, the internet, and mobile phones are just a few technologies that have…
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Digital is undoubtedly going to play a major role in the future of banking. As we noted previously, digital banking market valuation is predicted to exceed USD 13.5 trillion by 2032. The real question is: How each bank is approaching digital banking? From our friends at BAI, author Emily Steele, president and COO at Savana,…
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In depth interactive agenda will focus on best practices in check fraud detection and prevention Burlington, MA, April 6, 2023 – OrboGraph, a leading provider of intelligent payment automation and check fraud detection solutions, officially announced its Charlotte Check Fraud Roundtable meeting scheduled on May 22-23, 2023, at the Hilton Charlotte Airport in Charlotte, NC.…
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