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ABA Banking Journal: Complementing Technologies to Combat Check Fraud in the Digital Age

July 26, 2022

Digital payments are becoming more and more popular Even so, checks remain a mainstay for many consumers Fraudsters never stop evolving, and neither should anti-fraud technology. As cited by an article at the ABA Banking Journal, the 2021 Association for Financial Professionals Payments Fraud and Control Survey indicates that checks remain the payment method most…

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Mail Carrier Robberies on the Increase: Fueled by Check Fraud?

July 19, 2022

Fraudsters are stealing checks from postal service mailboxes We now see assaults on mail carriers to access keys to the public mailboxes An online “black market” for checks provides ample motivation for these thefts As if it weren’t bad enough that fraudsters have made it a habit to steal from home mailboxes and even postal…

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Forbes.com: Businesses Need to be Alert to Internal Check Fraud Schemes

July 12, 2022

Many large companies have been stung by check fraud Almost all instances could have been prevented by currently available fraud detection tech AI-powered transactional-analysis systems protect orgs from internal and external fraud Though digital payment options are popular (and there seems to be a new one every week), the fact is that checks remain a…

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Frank on Fraud: 10 Fraud Worst Practices and How to Avoid Them

July 5, 2022

Bad fraud practices are pervasive Attention to a short list of bad practices can bring improvement Banks must stay consistent and constant The always-informative Frank on Fraud blog discusses — with accompanying highly entertaining imagery and GIFs — the 10 Worst Fraud Practices and How to Avoid Them. Frank recognizes that the same mistakes seem…

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ACFE and SAS Release Anti-Fraud Technology Benchmarking Report 2022

June 28, 2022

Use of AI and machine learning expected to escalate against fraud A majority of organizations plan to increase their anti-fraud tech budgets The pandemic has certainly been a factor The Association of Certified Fraud Examiners and SAS released their Anti-Fraud Technology Benchmarking Report 2022 — a report exploring how organizations are using anti-fraud technologies and which ones…

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OrboNation Newsletter: Check Processing Edition – June 2022

June 27, 2022

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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Fiserv & Mercator Advisory Group Address Check Deposit Risk Mitigation on PaymentsJournal Podcast

June 21, 2022

Check fraud is rising Remote deposits are more popular and create more fraud opportunities Tools are available to effectively fight check fraud The PaymentsJournal Podcast invited guests Bev Nichols, Product Director of Deposit Solutions at Fiserv, and Sarah Grotta, Director of Debit and Alternative Products Advisory Service at Mercator Advisory Group, to discuss the state of check…

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Examining the “Customer Journey” to Prevent ACH And Check Fraud

June 14, 2022

A “holistic approach” is best in combating fraud Digital financial products are an easier target Checks, while less targeted, are still in the crosshairs of fraudsters In their latest “Digital Fraud Tracker” feature, PYMNTS talked with Seth Ruden, senior director of fraud operations for First Tech Federal Credit Union. In his analysis of fraud prevention,…

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2021 AML Fines = $1.6B…Combining Multiple Technologies to Mitigate Compliance Risks

June 7, 2022

55 money laundering fines issued in 2021 totaling approximately $1.6 billion in value Contextual Risk Management is a holistic approach Now is the time to begin implementation In a recent article from Compliance Week, Editor in Chief Kyle Brasseur reviews the AML fines levied to to banks in 2021. According to the Kroll’s Global Enforcement…

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PaymentsJournal: Checks Are the Top Vehicle for Commercial Payments Fraud

June 1, 2022

There are many types of commercial payments fraud hitting organizations Checks are leading the pack Check fraud incidents have declined by 8% since 2019 The new episode of Truth In Data from PaymentsJournal features information on the types of commercial payments fraud that are afflicting organizations — and they find that, while declining, checks are…

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