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ACH Fraud Jumps – Are You Surprised?

March 3, 2020

Modernizing Omnichannel Check Fraud Detection An informative blog series exploring payments fraud and image technologies used to fight financial crimes. ACH Fraud Jumps – Are You Surprised? Checks represent a “big” target for fraudsters, but ACH fraud is growing faster ACH fraud growth, in fact, surprised industry leaders Has effective fraud prevention throttled check fraud…

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Multi-Victim and Multi-Layered Fraud Challenges Banks

February 18, 2020

Double-layered fraud: fraudsters who actually defrauded other recruits who thought they were “in on it” – both banks and accomplices alike we defrauded. To better detect fraud, banks need to strategically align their technologies.

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2019 ABA Fraud Survey Delivers Shock Value

February 11, 2020

Fraud attempts affected an estimated $25.1 billion held in deposit accounts, ABA’s survey found, with $22.3 billion protected per the Banking Exchange Prevention was the equivalent of $9 for every $10 in attempted fraud, per Dodd Frank Update Attempted check fraud spiked 43% in two years, per PYMNTS.com The American Bankers Association’s (ABA) 2019 Deposit…

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Rethinking the Numbers: Payee Positive Pay Reduces Check Fraud for Corporate & Small Biz

February 4, 2020

ABA reported a significant check fraud uptick in 2018 data B2B payments are still dominated by checks – leading to more opportunities for fraud – is it overrated? Assessing real-time, Positive Pay fraud systems with image can stop fraud at various stages of the workflow Corporate Payments Landscape: Checks Still Rule in B2B The Wall…

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FRAUD MAGAZINE: A Must Read

January 28, 2020

Fraud techniques are evolving and check fraud is often intertwined with other types. Anyone involved in fraud detection and prevention needs to stay up-to-date, and Fraud Magazine offers some useful information.

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Checks Lead in Payments Fraud Despite Volume Decline

January 16, 2020

2019 Federal Reserve Payments Study Reports 16B Checks Written Overall payments grew, while checks written declined Check fraud risk is increasing Checks lead other payment channels in fraud attempts per AFP It’s back! The 2019 Federal Reserve Payments Study, provides us new insights and metrics for the payment industry: The number of core noncash payments,…

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Catching the Check Fraud Perpetrators

January 8, 2020

Three kinds of check fraud dominate the pack Fraud has become more and more inexpensive to perpetrate Behavior analysis to fight cross channel fraud As fraudsters continue to evolve their tactics, it is important to understand what acts of fraud are being committed and what actions banks are taking in order to combat fraudsters. These…

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How to Execute a POC for Image Analysis

December 16, 2019

Check fraudsters are getting technologically sophisticated; Many bank fraud legacy detection systems are hopelessly out-matched; Proof of Concept is vital to the success of even the newest tech

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20 Heavy Hitting Questions Posed by Fraud Analysts

December 11, 2019

20 technical questions around fraud detection and models; complicated fraud scenarios must be well defined; AI and machine learning are effective, but multi-model approaches will outperform single models

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A Classic Check Fraud Scheme Targeting… Millennials?

December 4, 2019

While instant payment channels grow and multiply by the day, fraudsters remain interested in check fraud as a “reliable” form of illegal income.
Let’s look at the classic Fake Check fraud scheme, which has not lost popularity in spite of the growth of other payment channels.

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