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The rise in check fraud surprises some Instant payments are an alternative, but many people do not use them The public is becoming more aware of fraud and how to avoid it Over the past few years, the Independent Community Bankers of America (ICBA) has been on the forefront of taking on check fraud. Last…

What is a rules engine? Utilizing a rules engine for check fraud detection Identifying use cases for rule engines in check fraud The importance of having a multi-layered technology approach to check fraud cannot be overstated. It’s crucial to integrate myriad technologies — such as transactional/behavioral analytics, image forensic AI, consortium data, dark web monitoring,…

Commercial mail is predicted to play a more prominent role in the delivery ecosystem State-level attention to postal security is not as effective as federal mail theft laws Changes to mail logistics under the Postal Service’s 10-year plan are raising concerns about delayed delivery to rural areas Since the pandemic, the post office has garnered…

Rob Rendell, Global Head of Fraud Market Strategy & Fraud Prevention – Subject Matter Expert at Nice Actimize, offers a detailed overview of First-Party Fraud and Mule Activity, two unnervingly popular scam methodologies. First-party fraud (FPF) is when the fraudster doubles as a customer. Fraudsters will open accounts for the specific purpose of executing their…

Predictive Intelligence has emerged as a valuable tool against fraud Even with many new payment methods available, checks remain popular fraud vehicles Predictive Intelligence anticipates the risk of fraudulent payments Payments Journal reports that Predictive Intelligence has emerged as a valuable tool for financial institutions in their efforts to mitigate fraud attacks on payments. Unfortunately,…

Frank Albergo, National President of the Postal Police Officers Association, recently reposted via LinkedIn an item found by David Maimon, Professor at Georgia State University and Head of Fraud Insights at SentiLink. As Mr. Albergo relates: Crime evolves and criminals adapt. Obviously mail thieves want to avoid detection and arrest. A United States Postal Service letter…

CNN reports that the US Treasury Department has begun using artificial intelligence — or AI — to detect fraud and recover funds, adopting techniques already widely used in the private sector. Starting around late 2022, the Treasury Department began using enhanced fraud-detection methods powered by AI to spot fraud, CNN has learned. The strategy mirrors…

“Check cooking” is on the rise Florida’s Attorney General has issued a warning Initial investment for deposit fraud is surprisingly low Florida’s Attorney General, Ashley Moody, recently issued a warning about a digital check manipulation or “check cooking” scheme where fraudsters alter stolen checks to change the payee and payment amount. The warning comes in…