The American Bankers Association reports that the US Postal Service recovers more than $1 billion in fraudulent checks and money orders each year. The most significant threat right now is the rise of mail theft ... Read More »
The as-a-service (aaS) model is everywhere. You can get software, infrastructure, platform, disaster recovery, cyber-security, and countless other items as a service. This model gives customers access to products that they traditionally couldn't afford on ... Read More »
Bankers must pay very close attention to the cost of fraud. They must know how to optimize their budgets in ways that keep costs low while also minimizing risks. To guide you in the right ... Read More »
Banking professionals must be ever vigilant against fraud. However, you must look at more than just payments. Most bank fraud starts long before the money exchanges hands. To reduce the threat of fraud at your ... Read More »
The end of the year is the traditional time to reflect on your business strategies, congratulate yourself on jobs well done, and identify areas for growth. In the banking sector, that means paying particular attention ... Read More »
Who is liable for check fraud? The person who created, forged, or altered the bad check is liable. But as they are very infrequently caught, the account holder, the drawer bank, or the drawee bank ... Read More »
Recently, in Kansas, two men were arrested after stealing thousands of dollars from victims' debit cards. Pretending to be fraud investigators from the bank, the men convinced victims to give them their debit card numbers, ... Read More »
In 2022, check fraud increased by 84%, and although at the time of writing, the final numbers haven't been released for 2023, analysts expect check fraud incidents to be even higher that year. By October ... Read More »
Check fraud has more than tripled over the last five years—Just between 2018 and 2022, there was over a 200% increase in check fraud incidents. This trend is particularly shocking when you consider that check ... Read More »
Financial institutions need end-to-end fraud strategies. They need processes that detect and prevent fraud. They also need to constantly assess and re-assess their risks and adapt their processes to the current threat landscape. Additionally, they ... Read More »