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US Treasury Leverages AI to Recover $375M…A Small Drop in the Fraud Bucket?

March 5, 2024

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…

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OrboNation Newsletter: Check Processing and Fraud – February 2024

February 29, 2024

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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Check Cooking Lab: Low Investment, High Return

February 28, 2024

“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…

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Learn the Lingo: The Fraudster Glossary

February 27, 2024

Like many clubs or societies, fraudsters have a language all their own Some slang terms are obvious, while others are very oblique A valuable online Fraud Glossary resource is growing by the day People who share a common hobby or vocation often have a “lingo” of their own that they use to streamline communication and…

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Scam Interdiction — “Banks Battle Scams With Tough Love”

February 21, 2024

The latest Frank on Fraud blog explores Scam Interdiction, a practice that is currently in use all over the world and may be coming to the US. Simply put, Scam Interdiction is the use of AI and other tools to pause or decline suspicious transactions in real-time before any money is lost. Frank on Fraud…

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Exploring the Stolen Check Market on the Dark Net with Dr. David Maimon

February 20, 2024

The Dark Net is emerging as a supplier for fraudsters Dr. David Maimon shares his insights into the Dark Net ecosystem A proactive approach to rising fraud cases is recommended OrboGraph’s Joseph J. Gregory and Dr. David Maimon recently discussed the Dark Web or Dark Net, which is becoming the supermarket for fraudsters looking for…

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Check Fraud Cases

Notorious Check Fraud Cases and Lessons Learned: Unveiling Crucial Insights for Prevention

February 16, 2024

As a global leader in check fraud detection and prevention, we at OrboGraph understand the challenges banks face concerning check fraud and constantly strive to offer innovative solutions. One effective method to protect financial institutions and their customers is to examine notorious check fraud cases and learn from them. By analyzing these cases, senior executives…

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Types of Check Fraud

Types of Check Fraud and How Banks Can Recognize: A Concise Guide

February 16, 2024

In recent years, check fraud has continued to be a significant concern for banks, as criminals have turned their attention to checks.. As a global leader in the fields of check fraud detection, prevention, and image recognition solutions, we at OrboGraph understand the importance of staying ahead of these threats. With the increasing sophistication of…

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The Seventies Check Fraud Boom…Can We Learn from History

February 14, 2024

Check fraud is not new — it boomed in the 1970s By 1977, banks responded with multiple anti-fraud tactics Are there lessons modern financial institutions can learn from the ’70s? FrankonFraud takes us back to the days of cable TV, eight-track tapes, and leisure suits – the 1970s. The 1970s were hard times in fraud.…

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FeatureSpace Report: Check Fraud Increased 70% in 2023

February 13, 2024

  Another new report sees fraud growing Complexity of fraud has increased as well Cost has become the main obstacle in defending against fraud FeatureSpace — creator of Adaptive Behavioral Analytics, Automated Deep Behavioral Networks and ARIC Risk Hub, the most powerful and open technology to combat fraud and financial crime — just released a…

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