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Modernizing Omnichannel Check Fraud Detection

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

NICE Actimize: Check Fraud Insights from Industry Experts
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 ...
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Fed Expands FedDetect to Cover Commercial Checks, But Is It Enough to Stop Check Fraud?
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 ...
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OrboNation Newsletter: Check Processing and Fraud – November 2024
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. ...
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Check Fraud Detection: The Intersection of Forensic Document Examination and Image Forensic AI
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 ...
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Check Consortiums: The Advantages of Open Models for Fraud Detection
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 ...
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Supercharging Positive Pay Systems to Combat Check 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: ...
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Claude.AI’s New Analysis Tool a “Game-Changer” for Fraud Fighters?
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." ...
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Solving Paper Check Fraud’s “Weakest Link” … Paper Checks Themselves?
Even as digital payments gain popularity, paper checks remain prevalent Businesses and customers alike still regularly use checks Fraudsters exploit the anonymity of depositing checks through ATMs or mobile devices, which adds complexity to tracking We have previously noted that the rise in check fraud can be traced back to ...
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“FakeCall” Malware for Android Phones Intercepts Calls to Your Bank
  New malware designed for Android phone users Fakecall software redirects calls to scammers Download apps only from official stores -- do not allow installations from unknown sources During the pandemic, we saw a shift of banking customers -- who, at the time, could not or would not go to ...
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AI in Check Fraud: Are Fraudsters Staying One Step Ahead?
Fraud continues to rise Fraudsters are now utilizing AI to strengthen scams The battle between AI-powered fraud and AI-powered fraud detection is only just beginning Recently, OrboGraph's Marketing Manager and Fraud Detection Specialist, James Bi, had an interesting conversation with an industry expert on mRDC and Check Fraud. The expert ...
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Many Americans Believe Checks are More Secure Than Digital Payments…Are They Wrong?
The rise of new payment methods has not eliminated check usage Checks present a security risk to both consumers and financial institutions Are check payments more secure than digital payments? Over the past several months, it's been suggested by industry experts and technology vendors that the "checks are dead" sentiment ...
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Nearly 20,000 Stolen Checks Worth Over $485M Found on Telegram
Telegram is a bountiful resource for check scammers 20,000 checks were catalogued, sourced from nearly 2,000 different US banks and credit unions Government checks make up 22.6% of the total In order to commit check fraud, the first step for a fraudster is simple: obtaining a legitimate check. Sure, a ...
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OrboNation Newsletter: Check Processing and Fraud – October 2024
Download PDF Copy of the Newsletter Millions in IRS Refund Checks Stolen and Altered When you think about different types of checks, which do you believe is the most desirable to fraudsters? The answer is treasury checks. When a fraudster is able to steal a treasury check, they can simply alter ...
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Check fraud detection
Valley Commercial Bank Provides Guide for Businesses to Prevent Check Fraud
A new guide to prevent check fraud is available for businesses Fraudsters prefer business checks Anti-check fraud measures are available and effective Valley Commercial Bank announced via LinkedIn that they've released a concise guide to protecting businesses from check fraud called Safeguarding Your Business with Check Fraud Prevention. Commercial checks, ...
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BAI Podcast: Combating Check Fraud with a Strategic Mindset
Even as check usage declines, check fraud continues to rise There is a sizable demographic that still prefers checks Proactive customer communication and linking fraud/AML systems help banks reduce check fraud losses and turn fraud prevention into a competitive advantage The complexity of check fraud creates difficult challenges for banks. ...
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