Blog Post
In the ever-evolving landscape of banking, the threat of check fraud looms large, presenting a significant risk to the integrity of financial transactions. As leaders in the field, we understand that effective fraud risk assessment and check fraud detection are crucial for protecting both our institutions and our customers. Checks remain a common payment instrument…
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mRDC has seen a 90% increase in suspicious activity from 2021 to 2023 Fidelity responds to their money “glitch” Investment firms need to follow in the footsteps of FIs Mobile RDC (mRDC) may be the most abused deposit channel for check fraud, with the Insikt Group reporting a 90% increase in suspicious activity from 2021…
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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.
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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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