Blog Post
In case you missed it, over the past month, we have published incredible content on our OrboNation Blog and Modernizing Omnichannel Check Fraud Detection. Review the latest OrboNation Newsletter online or via PDF download.
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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. He presents the following scenario…
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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 2024 Deposit Fraud Trends Report —…
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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, a typical positive pay solution…
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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 for each payment channel, it’s…
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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 at work today: Counterfeit checks…
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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 fraudsters. That doesn’t mean financial…
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In case you missed it, over the past month, we have published incredible content on our OrboNation Blog and Modernizing Omnichannel Check Fraud Detection. Review the latest OrboNation Newsletter online or via PDF download.
Read More
Check fraud is growing We are on track to see another increase in ’23 Fortunately, investing in newer tech to combat fraud is affordable Check fraud continues to be a growing and significant problem for US banks. S&P Global reports that, between 2018 and 2022, suspicious activity reports for check fraud at banks increased over…
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While the younger generation doesn’t use checks frequently, check use is still strong Fraudsters are robbing mailboxes – both private and US Postal Service “blue boxes” Check fraud can be accomplished with inexpensive tools, making it popular Jeffrey Weiner, Chairman and CEO at Marcum LLP, posted on LinkedIn about the growing “popularity” of check fraud…
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