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Check fraud can be organized and vast in scale An organized operation was used in Pasadena to stop one such operation Organized check thefts affect families and individuals We have on occasion used this space to talk about how check fraud can be a small crime undertaken by individuals who normally would not consider “stealing.”…
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Check fraud needs to be addressed at banks and businesses alike JPMorgan Chase identifies three vital fraud concepts to understand Tools to prevent fraud losses are readily available and constantly improving Check fraud continues to be a major focus for the banking industry. As noted in JPMorgan Chase’s new guide entitled FRAUD + CYBERSECURITY: Your…
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The medical lockbox has existed for decades — with many banks offering this treasury management service to their healthcare clients. Traditionally, medical lockboxes are the consolidation point for paper payments and remittances, where banks process multiple payment types including ERAs, EFTs (ACH), checks, wire transfers, and now virtual cards. However, over the past decade, a…
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Want to keep up in the banking industry? Follow the example of executives at eight in ten banks, who noted that their 2022 technology budget was up from the previous year, with an average increase of 11% over 2021. In fact, Gartner Inc. predicts that in 2022, banks and financial firms will invest an estimated…
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Digital banking tools can enable fairly simple check fraud Fraud is an international phenomena Even “non-fraudsters” may be tempted by digital banking avenues In a recent interview with PYMNTS.com, Rusty Pickering, President and Chief Operating Officer, and Bill Roese, Chief Risk Officer of Ingo Money spoke about how check fraud continues to thrive alongside of digital…
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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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LinkedIn — the world’s largest internet professional network — is a great way for professionals to connect with colleagues and other industry leaders, strengthening relationships to advance their careers. Over the past few years we’ve seen many of these professionals use the LinkedIn platform to take an active role in spreading news and content that…
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Recently, the Association of Financial Professionals — in conjunction with JP Morgan — released its 2022 AFP Digital Payments Survey. The survey was conducted to measure the adoption of digital payments in the US and Canada in light of recent global challenges. In particular, the survey focuses on the shift from checks to digital alternatives.…
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Defining the balancing act between security and customer expectations Customers have grown to appreciate that minor inconveniences mean better security 62% of banks indicate third party check fraud is their biggest issue The latest BAI Deep Dive takes on “The fraud prevention balancing act: protection vs friction.” Much of the discussion involves changes seen in…
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As we noted in a previous blog, business remote deposits continue to be a leading service — particular for checks, with tremendous growth of +25%. And, according to Fiserv’s Mobile Deposits Adoption Program Director, Ryan Williams, 85% of consumers currently using mobile deposit plan to continue doing so. With all that being said, Williams recently shared…
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