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...
This case study has been updated - originally published July 13, 2023
Faster deposit channels like remote deposit capture and same-day ACH make banking more convenient for consumers. But as transactions speed up, deposit loss prevention solutions must...
Faster banking means faster fraud.
Modern deposit channels—from mobile to remote-deposit capture to same-day ACH—make banking faster and more convenient for customers.
They also make deposit risk assessment more complicated for FIs.
Bad actors are...
Alert identity theft protection subscribers of high-risk activities within their deposit accounts.
Modernize your payments fraud mitigation strategy. Identify high risk payments in real time before a transaction goes through.
Check fraud is growing at a shocking pace. In 2022, banks filed 680,000 check-fraud reports—nearly doubling the 350,000 reports filed in 2021.1
While check fraud is an age-old threat, its resurgence is catching even the most forward-thinking financial institutions (FIs) off guard.
In this guide, we explore what check fraud looks like in the age of digital banking, the impact on banks and credit unions and effective check fraud prevention best practices.
This blog was originally published 5/22/2024 and has been updated
Consumer demand for fast and easy banking processes has never been higher. Whether customers are opening new accounts, making digital payments, or applying for credit, financial...
A Texas car and motorsports entrepreneur orchestrates a scheme to check kite $114 million, fooling investors and his business partner that he’s running a thriving business.
Learn more about Real-time Deposit Chek® Service as a tool to confirm the...
Stand guard across all deposit channels with insights on 95% of deposited items. Detect fraud, streamline transactions, and empower funds availability decisions.
NEW YORK -- Early Warning Services, LLC., the network operator of Zelle®, today announced that in the first half of 2024 the person-to-person payments network reached 143 million enrolled users and helped consumers and small businesses move nearly...