Payment fraud detection is difficult to perfect. It’s a slippery form of fraud that shifts its shape as new technologies emerge. Indeed, criminals are relentless in their pursuit to steal funds via unauthorized payments—continuously innovating new...

Picture this: a fraudster writes a check for $5,000 from his account at a credit union and walks over to his local branch of a nationwide bank, depositing the check by scanning it in at the ATM. It’s a large check, so the bank makes half of the funds...