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Modernizing Omnichannel Check Fraud Detection

An informative blog series exploring payments fraud and image technologies used to fight financial crimes.

Check Fraud Cases
Notorious Check Fraud Cases and Lessons Learned: Unveiling Crucial Insights for Prevention
As a global leader in check fraud detection and prevention, we at OrboGraph understand the challenges banks face concerning check fraud and constantly strive to offer innovative solutions. One effective method to protect financial institutions and their customers is to examine notorious check fraud cases and learn from them. By ...
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Types of Check Fraud
Types of Check Fraud and How Banks Can Recognize: A Concise Guide
In recent years, check fraud has continued to be a significant concern for banks, as criminals have turned their attention to checks.. As a global leader in the fields of check fraud detection, prevention, and image recognition solutions, we at OrboGraph understand the importance of staying ahead of these threats. ...
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The Seventies Check Fraud Boom…Can We Learn from History
Check fraud is not new -- it boomed in the 1970s By 1977, banks responded with multiple anti-fraud tactics Are there lessons modern financial institutions can learn from the '70s? FrankonFraud takes us back to the days of cable TV, eight-track tapes, and leisure suits - the 1970s. The 1970s ...
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FeatureSpace Report: Check Fraud Increased 70% in 2023
  Another new report sees fraud growing Complexity of fraud has increased as well Cost has become the main obstacle in defending against fraud FeatureSpace -- creator of Adaptive Behavioral Analytics, Automated Deep Behavioral Networks and ARIC Risk Hub, the most powerful and open technology to combat fraud and financial ...
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New Alloy Report: Nearly 60% of Banks, Fintechs, and CU’s Absorbed $500K+ in Direct Fraud Losses
Financial organizations faced significant fraud losses in 2023 A majority of survey respondants report fraud attacks have increased or remained the same 23% of respondents saw a decrease in fraud attacks Alloy -- a identity risk management platform for financial companies -- has recently published its 2024 State of Fraud ...
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Reverse Positive Pay: Banks Putting Fraud Liability on…Customers?
Some banks offer "extra protection" against fraud for a monthly fee Bank customers are responsible to report suspicious activity within a short period of time "This is not a fraud mitigation program; this is a screw the bank customer program" A recent report by Melissa Andrews was cited on LinkedIn ...
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BAI Executive Report Shines Light on Fraud Trends Going Into 2024
The new BAI Executive Report, entitled Safeguarding Against Fraud, offers a look at the current state of fraud and the ways financial institutions can protect themselves and their clients. One thing is for sure: It's not getting any easier. Ever faster and smarter technology -- like nearly instantaneous money transfers ...
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OrboNation Newsletter: Check Processing and Fraud – January 2024
Download PDF Copy of the Newsletter Exploring the Strengths and Weaknesses of Positive Pay Systems for Check Fraud Detection Recently, OrboGraph's Marketing Manager and Check Fraud Detection Specialist James Bi had a conversation with a mid-sized bank about check fraud detection solutions. Specifically, this bank was interested in positive pay ...
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How and Why mRDC is Exploited by Fraudsters
Having read an article published by ABA on their Risk and Compliance portal titled "The Dangers of Mobile Remote Deposit Fraud," David Peterson, Chief Innovation Officer, Speaker, Facilitator and Advocate for Metacognition!, purports to discuss the dangers of labeling mobile remote deposit capture (mRDC) as the source of check fraud. ...
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Examining the Deposit Fraud Trends in 2024
Deposit fraud prevention is crucial for protecting account holders and the institution's reputation Check fraud and mobile deposit scams are on the rise, with mobile banking usage and mobile fraud both increasing Scams targeting older generations and tech-savvy individuals are also getting more common Advanced Fraud Solutions has released their ...
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Exploring the Strengths and Weaknesses of Positive Pay Systems for Check Fraud Detection
Recently, OrboGraph's Marketing Manager and Check Fraud Detection Specialist James Bi had a conversation with a mid-sized bank about check fraud detection solutions. Specifically, this bank was interested in positive pay systems; they desired to be better educated to sell to their corporate customers. As many of our readers know, ...
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FrankonFraud: Ten – no, Eleven – Fraud Predictions for 2024
Review of fraud in 2023 -- SARs forecasted to exceed 2022 11 fraud predictions for 2024 Image forensic AI key technology for decreasing check fraud losses in 2024 Fraud in 2023 saw an increase in almost every possible channel. And, while we are able to look at past historical data ...
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ABA Journal: Integrated Anti-Fraud Approach Critical for 2024 Success
Check fraud doubled in 2022 Counterfeit checks are easy to create Checks are still widely used, giving fraudsters a big target ABA Risk and Compliance takes a look at check fraud, a persistent challenge for banks with reported cases doubling in 2022. The article highlights the three primary fraud techniques ...
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Technology and Collaboration: The Foundation of a Strong Check Fraud Strategy
Check fraud is growing and becoming more sophisticated Technology is keeping up with fraudsters Careful implementation of anti-fraud tech is vital to staying ahead of fraud innovations Sherah S., Head of Legal, Risk, and Compliance at CheckAlt, recognizes that check fraud is growing more and more common and accessible to ...
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OrboNation Newsletter: Check Processing and Fraud – The Best Articles from 2023
Download PDF Copy of the Newsletter Washington Post: "Checks Are Dead"…Not So Fast! This proclamation comes from reporter Andrew Van Dam in a recent article from the Washington Post. In a few years, comically oversized foam-board novelty checks will be the last remaining evidence of a 20th-century icon, as the ...
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