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Credit unions are hit hard by fraud While needing to combat fraud, credit unions do not want to impair the customer experience The answer is automation In the banking world, fraud has hit hard. Fraudsters have evolved their tactics, blending old school techniques such as check washing with new technologies such as leveraging the dark…

Check fraud is rising quickly There is an “open market” aiding check fraud on the internet Many banks grew complacent during a period when check fraud was stable Suparna Goswami, Associate Editor at ISMG, spoke to Trace Fooshee, strategic adviser at Aite Novarica Group, about problems banks have been facing in addressing the precipitous rise…

Check fraud is a growing problem “Lessons” in creating fake checks are available online YouTube is home to many tutorials One of the more disturbing aspects of mounting check fraud — beside the fact that postal workers are being physically assaulted to get “raw material” and mail drop box keys — is the fact that…

Check fraud continues to rise Check fraud has grown disproportionalty compared to other channels Checks haven’t changed in decades, making an easy target The latest NICE Actimize article is available for download, and it’s called Check Fraud Running Rampant in 2023. Talk about getting to the point! The report is full of valuable information and…

The web offers easy-to-acquire resources for fraudsters Less knowledge and effort than ever is required to accomplish check fraud Fraudsters often get caught because they flaunt their ill-gotten gains on social media Infamous Ghost Money, a masked YouTuber whose channel about “fraud awareness and prevention” has been featured in our blog previously, recently discussed the…

Mail theft is increasing Physical assaults on mail carriers hadn’t been addressed up to now USPS and the Postal Inspection Service have announced a crackdown on robberies and mail theft A few weeks ago we talked about how mail theft is on the rise — as check fraudsters seek to acquire more “raw material” from…