Modernizing Check Fraud Detection Blog

Gen AI alters check amounts and names in seconds, with minimal prompts Generative tools scale fraud, rapidly creating large volumes of convincing counterfeit checks Multi-layered, AI-powered image and behavioral analysis best detects modern check fraud Way back in 2023, we wrote a post about how generative AI will be a ...

Check fraud losses continue to accumulate There are solid recommendations available to fight fraud Effective tools can be leveraged for protection As we near the end of 2025, many are wondering what the total losses will be from check fraud. While concrete numbers are not available, our friends at VALID ...

Download PDF Copy of the Newsletter Phyllis Meyerson's Lasting Legacy: The Blockbuster Story Behind Check 21 On October 15, 2025, the payments industry lost one of its icons. Phyllis Meyerson was a 50-year payments and check-processing veteran, accumulating numerous professional certifications and making a lasting impact on the payments industry through ...

Fraudsters exploit the payee field to alter checks and avoid detection Techniques include check washing, digital editing, and adding extra payee names Banks can use AI tools to identify alterations and strengthen payee field security While check fraud tactics have drastically evolved over the past decade, it is easy to ...

Fraud losses in Canada reached $643 million in 2024 New laws require banks to improve fraud prevention and consumer protections Financial Crimes Agency planned for 2026 to fight economic abuse and scams While check fraud makes the headlines in the US, we are not the only country that is heavily ...

Criminals exploit data silos AI and knowledge graphs are essential for future fraud detection Banks must merge fraud, AML data for true investigative intelligence The landscape of fraud detection in banking is rapidly shifting as financial institutions wrestle with increasingly sophisticated, multi-channel threats. Markus Hartmann, market intelligence expert at DataWalk, provides a ...

Faster payments can actually increase fraud risk Banks must focus on education and building trust Instant payment apps bring new scam risks Banks and financial experts often advocate for moving consumers to faster payment systems-such as real-time transfers or instant payments-to combat check fraud. The reasoning is that current data ...

The value of stolen checks in the "black market" has gone down substantially This is due to a massive "oversupply" of available stolen checks Plummeting prices may also be a result of lower ROI on stolen checks Just a few years ago, stolen checks were considered premium commodities in the ...

Check fraud attempts remain high Claims of 90% check fraud detection rates across the industry are likely too high Technologies like pattern recognition and machine learning significantly reduce check fraud Check fraud continues to make headlines, but the true impact-and the relative effectiveness of prevention measures-are often misunderstood. A recent ...