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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The evolving sophistication of fraudsters poses a considerable challenge to banks, necessitating a reevaluation of our preventive strategies. To this end, OrboGraph recognizes the critical need for deploying advanced technological measures to combat this epidemic effectively. With our state-of-the-art solutions such as Behavioral/Transactional Analysis and Image Forensic AI, we stand committed to equipping banks with…
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Check fraud poses a substantial risk to the banking industry, impacting both reputation and financial stability. At OrboGraph, we understand the importance of confronting this challenge head-on and how to report check fraud. The ingenuity of fraudsters has evolved, with various types of fraud – such as counterfeit checks, forged endorsements, and altered payee and…
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Check kiting is becoming more and more common There are generally two bank accounts involved Solid defenses are required to prevent losses resultant of “kiting” If you ask anyone in the banking industry if they thought check fraud would be running rampant in 2024, the majority would respond with a simple “no.” However, OrboGraph saw…
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Check fraud scams are nothing new Fidelity is being targeted for deposit fraud A multi-layered tech strategy is important in stopping deposit fraud Over the past few weeks, fraud professionals have closely followed the “Infinite Money Glitch” — a viral trend that brought check kiting back into the spotlight. And, as an industry leader in…
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What hurts more than stepping on a bunch of LEGO blocks while barefoot? Hearing that a charitable organization has fallen victim to a scammer. Unfortunately, no one is off limits to fraudsters — not even charities. While many would think that the fraudsters would imitate a charity to steal funds for donators, there are fraudsters…
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Check fraud continues to be a threat The Wespay 2024 Payments Symposium offered valuable insight “Breach of Warranty” determinations present a problem This past week OrboGraph’s own James Bi, Marketing Manager and Check Fraud Detection Specialist, was in attendance at the Wespay 2024 Payments Symposium. In addition to his presentation: Check Fraud in 2024: Are…
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Public Service Officers play a key role in stopping check fraud There are specific items they can and should look for when supervising offenders Garbage is not off limits In the fight against check fraud, public service officers are often overlooked — even as they play a crucial role to stopping fraudsters. Financial institutions are…
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Check Fraud and the rise in Mail Theft are directly correlated FinCEN Analysis shows $688M in check related SARs reported in a six month period following their alert (February to August 2023) Image forensic AI is key to identifying counterfeits, alterations, and forgeries The correlation between the increase in mail theft and rising check fraud…
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TikTok sometimes allows poor advice to be posted The “Infinite Money Glitch” is one such example — encouraging check fraud There are several different methods banks can use to detect this sort of fraud TikTok trends are all the rage now. While YouTube remains the leader for content created by individuals, many are addicted to…
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