Modernizing Omnichannel Check Fraud Detection

Refund checks from the IRS are being targeted by thieves Checks range from a few hundred dollars to $500,000 There are reports of "inside job" postal thefts as well When you think about different types of checks, which do you believe is the most desirable to fraudsters? The answer is ...

Check fraud continues to climb Fraudsters are finding their "job" easier and easier Practice Safe Checks aims to help banks educate their consumers The American Banker's Association announced via LinkedIn that, in recognition of Cybersecurity Awareness Month, they are launching Practice Safe Checks, a new campaign that equips banks with ...

As leaders in the banking industry, we are all too aware of the persistent threat that check fraud poses to our institutions and customers. It is a challenge that demands constant vigilance and a proactive approach to safeguard our clients' hard-earned money. At OrboGraph, we are committed to assisting financial ...

Community banks and credit unions are often portrayed as integral to a community or region. Typically, they differentiate themselves from the larger financial institutions by servicing their communities and building a strong relationships and ties within their region. However, could this also be perceived as a weakness that can be ...

In the ever-evolving landscape of banking, the threat of check fraud looms large, presenting a significant risk to the integrity of financial transactions. As leaders in the field, we understand that effective fraud risk assessment and check fraud detection are crucial for protecting both our institutions and our customers. Checks ...

mRDC has seen a 90% increase in suspicious activity from 2021 to 2023 Fidelity responds to their money "glitch" Investment firms need to follow in the footsteps of FIs Mobile RDC (mRDC) may be the most abused deposit channel for check fraud, with the Insikt Group reporting  a 90% increase ...

Download PDF Copy of the Newsletter Check Fraud Scenario Highlights Issues with "Breach of Warranty" This past week OrboGraph's own James Bi, Marketing Manager and Check Fraud Detection Specialist, was in attendance at the Wespay 2024 Payments Symposium. In addition to his presentation, Check Fraud in 2024: Are We Catching ...

The evolving sophistication of fraudsters poses a considerable challenge to banks, necessitating a reevaluation of our preventive strategies. To this end, OrboGraph recognizes the critical need for deploying advanced technological measures to combat this epidemic effectively. With our state-of-the-art solutions such as Behavioral/Transactional Analysis and Image Forensic AI, we stand ...

Check fraud poses a substantial risk to the banking industry, impacting both reputation and financial stability. At OrboGraph, we understand the importance of confronting this challenge head-on and how to report check fraud. The ingenuity of fraudsters has evolved, with various types of fraud – such as counterfeit checks, forged ...

Check kiting is becoming more and more common There are generally two bank accounts involved Solid defenses are required to prevent losses resultant of "kiting" If you ask anyone in the banking industry if they thought check fraud would be running rampant in 2024, the majority would respond with a ...

Check fraud scams are nothing new Fidelity is being targeted for deposit fraud A multi-layered tech strategy is important in stopping deposit fraud Over the past few weeks, fraud professionals  have closely followed the "Infinite Money Glitch" -- a viral trend that brought check kiting back into the spotlight. And, ...

What hurts more than stepping on a bunch of LEGO blocks while barefoot? Hearing that a charitable organization has fallen victim to a scammer. Unfortunately, no one is off limits to fraudsters -- not even charities. While many would think that the fraudsters would imitate a charity to steal funds ...

Check fraud continues to be a threat The Wespay 2024 Payments Symposium offered valuable insight "Breach of Warranty" determinations present a problem This past week OrboGraph's own James Bi,  Marketing Manager and Check Fraud Detection Specialist, was in attendance at the Wespay 2024 Payments Symposium. In addition to his presentation: ...

Public Service Officers play a key role in stopping check fraud There are specific items they can and should look for when supervising offenders Garbage is not off limits In the fight against check fraud, public service officers are often overlooked -- even as they play a crucial role to ...

Check Fraud and the rise in Mail Theft are directly correlated FinCEN Analysis shows $688M in check related SARs reported in a six month period following their alert (February to August 2023) Image forensic AI is key to identifying counterfeits, alterations, and forgeries The correlation between the increase in mail ...