Blog Post
When examining a check to determine whether it’s real or not, it’s also worth looking for other general irregularities and mistakes. Look for spelling errors or typos in the printed information on the check, such as a misspelled business name or address. You can also check to make sure that the address of the check’s…
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Check Fraud is nothing new – it’s been around for decades Methods to ID fraudsters were a bit different as the 80’s began Modern check fraud needs to met with modern tools An interesting artifact from way back in the ’80s depicts a fraudster’s-eye view of the techniques in play a little over 40(!) years…
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Drop accounts are becoming a fraud “staple tool” These accounts are easy to open Fraudsters are advised to be patient and “age” the account for maximum effectiveness Many in the banking industry as are aware of one tool that is crucial to a fraudster: drop account. For those who are not as familiar, this is…
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Check fraud has grown to a major problem Positive pay offers tools to fight fraud However, positive pay adoption is fairly low Less than five years ago, check fraud was a niche topic, with very few outside the banking industry really understanding the in’s and out’s of check fraud. Well, fast-forward to the present and…
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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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Banks are partnering with FinTech companies to leverage their specialized solutions and enhance their existing offerings Bank-FinTech partnerships highlight the importance of interoperability and open banking principles in driving innovation in financial services Trends shaping digital banking include mobile banking apps, AI/ML for personalized insights, and focus on fraud/data security PYMNTS.com explores how the digital…
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Fraud and cybercrime have been increasing Telegram has become a prime platform for threat actors to conduct various scams and distribute malware The fact that it is quick and easy to “set up business” on Telegram is a huge attraction We all seem to know at least one person who has been the victim of…
Read MoreA decrease in check usage has not meant less fraud Nevertheless, checks remain popular in the United States A corresponding jump in fraud — some of it organized — is occurring in the US Jessica Washington, AAP, assistant vice president in the Retail Payments Risk Forum of the Federal Reserve Bank of Atlanta, notes in a post…
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One of the hottest topics in the news this week is Bitcoin Halving. The Bitcoin network is built on a foundation of scarcity and decentralization, with Bitcoin halving playing a pivotal role in both. This event, occurring approximately every four years, is not only a scheduled element of the Bitcoin monetary policy but also a…
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Mail theft is on the rise, and checks are being stolen for fraud The Post Office claims it is doing what it can to combat theft A CBS News investigation seems to show otherwise CBS News reports that while the US Postal Service claims to be applying “rigorous action” to the mounting problem of mail…
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