Modernizing Check Fraud Detection Blog

Download PDF Copy of the Newsletter Why Explainable AI is Critical for Fraud Defense How large of a challenge was fraud in 2025? Well, according to the Gasa Global State of Scams 2025 Report, global fraud losses reached an estimated $442 billion, with nearly 70% of adults worldwide encountered a scam ...

Instant payments reduce paper-based check fraud opportunities They also accelerate how quickly criminals can move stolen funds Real-time rails shift fraud risk and liability into the transaction window Real-time payment platforms like FedNow are often framed as an elegant way to sidestep traditional check fraud, but the uncomfortable truth is ...

ATM "jackpotting" is now a leading U.S. ATM fraud trend, exploiting hardware and software weaknesses Criminals also abuse ATMs via infinite money glitches, skimming, card trapping, and physical theft Banks must encrypt ATM components, harden devices, and deploy AI to detect ATM check fraud Which deposit channel are you most ...

Treasury's paper-check phaseout briefly slowed, but didn't eliminate, Treasury check fraud Fraudsters quickly adapted schemes, restoring high volumes of illicit Treasury check activity Continuous, AI-driven image analysis is essential to counter rapidly evolving check fraud On March 25, 2025, the current US administration signed an executive order entitled Modernizing Payments To ...

Check fraud SARs surged over 700% in a decade, despite declining overall check usage Roughly three-quarters of retirement-age Americans still rely on checks, making them a target Regulators have launched an interagency Request for Information and working group to coordinate stronger anti-check fraud actions In August of 2025, we approached ...

Fraud will evolve through synthetic identities, deepfakes, mules, takeovers, and emotional scams Explainable AI reveals why fraud models flag transactions Banks need XAI to meet regulations, prove fair automated decisions, and continually refine fraud defenses How large of a challenge was fraud in 2025? Well, according to the Gasa Global ...

Fraudsters build synthetic digital identities and exploit weak onboarding This makes every application into a potential new‑account attack Dynamic verification, behavioral analytics, and AI‑driven checks are essential to spot bot activity and identity reuse One of the major components of fraud are drop/mule accounts -- particularly when it comes to ...

Download PDF Copy of the Newsletter Highlighting the "Hotspots" For Check Fraud in the USA Back in May of this year, we wrote a post pointing out which regions of the USA were "hotspots" for mail theft/stolen checks. These hotspots were focused around large metropolitan areas, where we surmised a ...

Organized check fraud rings operate like businesses with defined leadership and roles as well as adaptable processes Key roles: orchestrators, source gatherers, production specialists, and money mules/runners, all compartmentalized Rings exploit speed, volume, and trust, using physical and digital methods to steal and alter checks Organized check fraud crime rings ...