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Clues to Detect Mobile Check Deposit Fraud

 Clues to Detect Mobile Check Deposit Fraud

If you’re already using TrueChecks® to scan your mobile deposits automatically, then you’re in better shape than most FIs out there. In fact, according to the 2017 AFP Payments and Fraud Control Survey, 75% of organizations in 2016 experienced check fraud, and the mobile channel is a hot spot for this type of activity. Without a database like TrueChecks® to spot fraudulent remote deposits, they can be harder to catch than checks coming through the teller line.

How Banks and Credit Unions Can Build a Culture to Fight Fraud

How Banks and Credit Unions Can Build a Culture to Fight Fraud

Among all the things we train our customers on here at AFS, teaching them the tips and tricks of catching deposit fraud is one of the most important. Aside from just this fundamental training, though, there is a cultural element that can be encouraged at banks and credit unions that makes the ‘game’ of spotting fraudulent deposits fun and rewarding for staff. The trick is knowing how to position the benefits to encourage strong, consistent participation.

A Look Back at Fraud and Payments Trends in 2018

A Look Back at Fraud and Payments Trends in 2018

At AFS, we strive to not only help mitigate and prevent fraud losses at your institution with our fraud prevention software, but we also strive to educate and keep you up-to-date on important fraud trends. Technology continued to grow in 2018, which created more avenues for fraudsters to attack, and there is no limit to how far swindlers will go to steal information or money. Here is a breakdown of some of the fraud trends we saw in 2018. 

Financial Institution's Biggest Deposit Fraud Challenges

Financial Institution's Biggest Deposit Fraud Challenges

While banks and credit unions continue to strive to become more agile, accessible, and user-friendly the additional channels now available to customers are opening FIs up to new security loopholes that let fraudsters in. Today, we address some of these new security challenges as they relate to deposit fraud and what your institution can do to close the gaps and secure these channels.

ACH Fraud Prevention and Awareness

ACH Fraud Prevention and Awareness

The Automated Clearing House (ACH) Network is used by a vast number of financial institutions to handle bill payments, cash transfers, and direct deposits. Virtually everyone has made an ACH transaction at some point, but unfortunately, a rising number of criminals have started using the Network to scam innocent individuals and take money directly out of their checking accounts.