Everyone loves a deal, but sometimes those deals come at a very high cost. Bargain hunters looking to save on high-priced brands can be easily sucked into buying counterfeit goods but today, luxury items aren’t the only fakes on the market. In the...
Seventy-one percent of financial professionals reported that their organizations were impacted by payments fraud in 20211.
The good news? That’s the lowest level reported since 2014. After reaching a record high in 2018 and 2019 (with 80 percent of...
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...
Easier ways to send and receive payments? Check!
The need to write and send paper checks dwindling? Check!
Check fraud becoming a relic of the past?
Umm, not so much…
The reality is, check fraud shot up a mind-blowing 96% in 2022 according to the...
by Eric Foust
The COVID-19 pandemic spurred large corporations and small businesses alike to double-down on their plans for adopting real-time payments. It also created a prime opportunity for financial criminals. Indeed, faster payments mean...