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Automated Check Stock and Content Verification
Financial institutions can rely on numerous tools and solutions to detect check fraud, but in particular, they need tools that can automatically verify check stock and content details on paper checks and image replacement documents ... Read More »
Why Are Real-Time Solutions Critical for Detecting and Preventing Fraud?
You cannot read about fraud detection and prevention without seeing the phrase "real-time". To be effective, anti-fraud solutions need to work in real-time, synthesizing thousands of data points, monitoring transactions across multiple channels, and analyzing ... Read More »
Protect Your Financial Institution Against Tax Identity Theft This Tax Season
As tax season rolls around, financial institutions need to be on the lookout for signs of tax identity theft. Tax identity theft is when a scam artist steals someone's Social Security Number (SSN), files a ... Read More »
Key Takeaways From a Virginia Bank Fraud Case
Between 2015 and 2017, Micheal J Tiernan the co-owner of Ford's Colony Realty and Southeast Settlement and Title Company embezzled thousands of dollars from these companies, and he was ultimately indicted on seven felony counts ... Read More »
How to Review Your Financial Institution’s Fraud Detection and Prevention Processes
Every financial institution has anti-fraud measures in place, but how do you know if your efforts are working? You may assume that if you haven't suffered any significant losses from fraud or any data breaches ... Read More »
How to Improve Forgery Detection at Your Financial Institution
Even in the digital age, customers still use their signatures as a primary form of authentication for a range of transactions. Their signatures authorize checks, new account paperwork, loan documents, and more. Unfortunately, with the ... Read More »
How to Detect Check Kiting at Your Financial Institution
Perhaps one of the most common types of check fraud, check kiting involves writing a check from an empty account to create the illusion of a balance in another account and then withdrawing the funds ... Read More »
13 Signs of New Account Fraud
In 2018, banks lost $3.4 billion to new account fraud. This is when scam artists open new accounts to draft checks or spend money from lines of credit with no intention of repaying the funds ... Read More »
5 Benefits of Payee Positive Pay
With payee positive pay, your commercial clients can give you a file of the checks they issue, and when you receive checks drawn on their accounts, you can compare them to the information in the ... Read More »
Consumer Attitudes on Data Sharing:
How Consumer Opinions Should Shape Your Approach to Data Acquisition and Security According to 70% of financial firm executives, privacy concerns are a key material risk. To protect your financial institution, you need to be ... Read More »
