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Fraud of all kinds is on the rise First party fraud is most difficult to spot Are financial institutions investing in the right tools? Check out the infographic. The prevalence and escalation of financial fraud of all kinds are not not news, of course — though we tend to concentrate on check fraud in this…
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While there are no specific data points to reference just yet, we can conclude from conversations with our partners and clients within the banking industry that check fraud saw another surge in 2022 — and there are no signs of it slowing down. From our newest eBook entitled Top 5 Vulnerabilities and Trends in Check…
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Just because it was the holiday season doesn’t mean #FraudFighters were taking a rest! LinkedIn was buzzing with #CheckFraud posts to keep up the good fight. Check out the latest posts: View the post on LinkedIn → View the post on LinkedIn → View the post on LinkedIn → View the post on LinkedIn →…
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Turns out community banks and credit unions can be proud of themselves: According to a recent Javelin study as reported at Jack Henry Fintalk, businesses that identify a community bank or credit union as their primary financial institution report far greater satisfaction than those using a larger bank. However, before smaller financial institutions break out the…
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An employee used his access to software and accounts to steal money His inspiration came from the film OFFICE SPACE This scam was not his only scheme Movies can inspire many behaviors, both good and bad. For decades many bartenders, for instance, have been subjected to the request that a drink be “shaken, not stirred”…
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2022 has been an eventful year for the banking industry. Banks have embraced technology and the digitization of banking — confirmed by Gartner Inc predicting that banks and financial firms boosted their technology products and services investments in 2022 to the tune of $623 billion. As we look forward to 2023, our friends at Alogent…
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A congressional report accuses fintechs of profiting from PPP loans These fintechs also ignored fraud prevention steps Speed was valued; accuracy was not Over the past few years, we’ve heard many stories surrounding PPP loans and fraud. However, the stories that typically hit the “headlines” were of businesses and their owners abusing the loan funds…
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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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The Financial Brand marked the end of the year with a look at what they consider the top five innovation trends to look forward to in 2023. Innovation has become a critical component of business growth in the banking industry. Beyond creating the ‘next big thing,’ innovation includes the creation of value through new or…
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It’s no secret that check fraud is an issue plaguing the banking industry. Since the release of the 2019 ABA Deposit Account Fraud Survey, we’ve seen what appears to be a 3X spike in fraud attempts — exacerbated by the COVID-19 pandemic. Couple that with prevention rates which many times falls significantly under 90% and…
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