Modernizing Omnichannel Check Fraud Detection

Recording Future monitors 700 Telegram Channels for Stolen Checks in H1 2024 85% of stolen checks are likely "reposts" High concentrations of stolen checks are in metropolitan areas Telegram is a major communication channel leveraged by criminals due to its encryption and anonymity. This makes it an attractive method for ...

IRS is prepped for the 2025 tax season The organization has had a boost in number of personnel The IRS plans to fight AI with AI The 2025 tax season is now upon us, and we all know what that means...fraudsters are ready to pounce on billions of dollars in ...

Payments fraud continues to be a growing problem Smaller financial institutions face bigger challenges Practical fraud prevention measures are available for small banks and credit unions Our friends at Advanced Fraud Solutions kicked off the new year with recommended strategies for credit unions and community banks to combat mobile check ...

Post Office "Inside Jobs" are a concern New hires may be involved in activities like mail theft, fraud, and other criminal acts "As bad as you think it is, it's much worse!" It looks like the U.S. Postal Service is being infiltrated by "opportunistic" new hires who are not interested ...

Download PDF Copy of the Newsletter Check Fraud Accounts for Nearly 20% of SARs Filings in 2023 Thomson Reuters reports that the number of suspicious activity reports (SARs) - documents that financial institutions must file with the federal government's Financial Crimes Enforcement Network (FinCEN) upon detection of behavior by employees ...

GoFundMe can be a wonderful tool to help people As expected, fraudsters have targeted this tool As last line of defense, banks need to be aware of this threat Our Modernizing Check Fraud Detection blog allows readers to access myriad topics -- from trends and reports to the latest innovations ...

James Bi of OrboGraph was a recent guest on the Wespay Payments Perspective Podcast The primary topic was how mobile deposit is leveraged by fraudsters Investment in tech is vital, as fraudsters are constantly evolving their techniques It is not a stretch to say that fraudsters LOVE technology -- particularly ...

"Deepfakes" are emerging as a threat Detection of deepfake material is getting harder and harder "It's more important than ever to have a multi-pronged anti-fraud strategy." As artificial intelligence (AI) technology continues to advance, a new type of media manipulation known as "deepfakes" poses significant challenges for businesses, governments, and ...

Financial institutions should take advantage of today's advanced communication modes Attention to digital channels has left check security on a "lower tier" A multi-layered tech approach is the answer Over the past few years, OrboGraph's Marketing Manager and Fraud Detection Specialist, James Bi, has traveled across the US speaking at ...

Check fraud is being addressed by the Federal Reserve Their system, however, is only effective with checks processed through the Federal Reserve The best solution detects fraud activity across the entire check ecosystem Earlier in 2024, we took a deep dive into two tools from the FED to combat fraud: FedPayments ...

Download PDF Copy of the Newsletter Check Fraud Detection: The Intersection of Forensic Document Examination and Image Forensic AI OrboGraph's Marketing Manager and Check Fraud Detection Specialist James Bi was recently a featured speaker at the 2024 Scientific Association of Forensic Examiners Conference (SAFE) International Conference, a global gathering of forensic document examiners. ...

OrboGraph's James Bi recently spoke at a conference about check fraud detection tools Image Forensic Technology is a powerful weapon against fraud Is AI replacing forensic document examination for banks? No! OrboGraph's Marketing Manager and Check Fraud Detection Specialist James Bi was recently a featured speaker at the 2024 Scientific ...

Consortiums have been seen as a good tool against fraud However, consortiums create challenges of their own Check consortiums are unique and are less affected than other fraud consortiums Consortiums have been a major resource in the fight against check fraud. Many financial institutions are leveraging consortiums like Advanced Fraud ...

Positive pay is not a new innovation for fighting check fraud. Many financial institutions offer this service through Treasury Management; with the increase in check fraud, many businesses have deployed this solution to mitigate check fraud losses. As noted in a blog post from our friends at Advanced Fraud Solutions: ...

A new AI "superhero" has been introduced Claude.AI is a new analysis tool being called a "game changer" This innovation represents a new partner in effectively preventing fraud For nearly a decade, we've heard about the potential of artificial intelligence for the bank industry and how it is a "game-changer." ...