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Rise in mail theft — USPS struggles to address issue Beware the “fraud chain” Organized fraud means meeting it with organized solutions We have all read the stories about mail theft of paper checks, and even postal workers committing the theft. Moneywise details another instance that is becoming all too common: A few days after…
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EPAM Continuum released a report entitled Regional Banks Reimagined. This project presents the results of their annual survey covering attitudes and behaviors of banking customers around the globe. In their inaugural effort, they surveyed 4,500 consumers across four countries to understand their beliefs; for 2021, EPAM surveyed more than 21,000 consumers across seven countries. The…
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Check fraud can be highly organized Social media is used to recruit Financial institutions need to remain vigilant Check fraud, unfortunately, can be the work of more than one bad actor. There are more and more cases of highly organized, coordinated “recruiters” creating groups that take aim at businesses. Here’s a fairly simple example, as…
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PYMNTS.com reports that many businesses are looking for ways to optimize their accounts receivable (AR) and accounts payable (AP) processes in line with their emerging digital needs. One might imagine that check payments are becoming scarce. Wrong. In fact, some experts estimate that 40% of all B2B payments in the U.S. are still made via…
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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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PYMTS.com reports, via their January 2022 ConnectedEconomy™ Report, that a substantial amount of U.S. consumers — 67% — say they interact with their bank using digital channels, including such functions as checking their balances, paying bills, and monitoring transaction alerts. As Bank of America CEO Brian Moynihan told CNBC in February 2022, just 15% of…
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YouTube has become the world’s “instruction sheet” A down-to-Earth examination of fraud has real impact Anything that builds consumer awareness is a solid tool The digital age is upon us and in the 21st century, many are turning to YouTube videos as the go-to for educational purposes. This does not just pertain to the tech-savvy…
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In an era of digital payment avenues that seem to double in number every month, checks may seem old fashioned and ready to be left behind, However, as we’ve illustrated here previously, checks remain key tools for many individuals and businesses. As noted in PYMNTS.COM: Eighty-one percent of business professionals expect the growing availability of real-time…
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Check scammers have zeroed in on…. home inspectors This is a familiar scam notable only for its target Scammers monitor trends and ID’ed home inspectors as vulnerable We’ve noted before in this space that scammers are getting more and more clever and specialized as time goes on, and this story from WKRN in Tennessee is…
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This past October we reported that the US Post Office was experimenting with offering some banking functions to aid underserved neighborhoods and populations. These services were to include check cashing, bill paying, ATM access, expanded and improved money orders and expanded wire transfers, with select Postal Service locations in Washington, D.C., Falls Church, Virginia; Baltimore,…
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