Check Fraud Prevention
Partnering with the X-Sight Marketplace, OrboGraph to deliver image analysis and recognition technologies for fraud prevention Hoboken, N.J., September 30, 2019 – Helping financial services organizations keep up with a changing market landscape, NICE Actimize, a NICE business (Nasdaq: NICE) and leader in Autonomous Financial Crime Management, today announced that OrboGraph has joined the X-Sight Marketplace, the industry’s first…
Read MoreWith all of the excitement of Mobile RDC, the industry has yet to experience significant losses… at least those which have leaked to the public. Orbograph commends RemoteDepositCapture.com for initiating a study in this area to help identify and quantify the risk in Mobile RDC; at least anecdotally. Business-focused RDC solutions have been very beneficial for the banking industry. Not only has the value been there for businesses, but the losses have been minor across the industry.
Read MoreIn the ever-changing landscape of payments fraud, one constant remains: fraudsters will always find a way. Traditional check fraud continues to linger as a loss conduit for financial institutions as well as retailers. The “traditional” activities of counterfeiting, forgeries, alterations and deposit fraud are still prevalent, but a new age of check fraud has already begun.
Read MoreDuplicate payments can hit an account at a paying bank at any time causing consumers and businesses alike to be overdrawn or charged extra fees. Bankers hate duplicate transactions because at times they can be held liable for the double posting, and it creates customer dissatisfaction even if the errant item is first deposited at another bank. Most of the duplicate incidences at the paying bank are due to…
Read MoreEvery business fears the potential losses associated with accepting counterfeit and forged checks. Although banks lose an estimated 893M per year in check fraud, the untold story of losses at the merchant/business location is more dramatic. Industry consultants have estimated these losses can be as high as $10B per year!
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