March 18 at 12:30 PM - 01:30 PM EST

Preventing Losses from Check Kiting and Check Fraud Schemes

Detecting fraudulent in-clearing checks

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Fraudsters are using tried-and-true methods to perpetrate fraud. From stolen check books to kiting schemes, in-clearing or on-us check fraud remains a significant challenge for financial institutions. As losses continue unabated, many fraud teams have to rely on first-generation rules-based systems, and manual processes to try to mitigate the risk of loss from fraudulent checks.

Join us for this product overview as we discuss the benefits of Verafin’s Fraud Detection and Management solutions that leverage machine learning, Optical Character Recognition (OCR) and image analysis to help detect fraudulent checks and reduce false positive alerts. In this presentation, we will demonstrate Verafin’s targeted fraud detection scenarios including Stolen/Counterfeit Checks, Duplicate Check Number, Sequence Number Jump, and Check Kiting.

Highlights of this product presentation:

  • Check Fraud Detection: targeted analytics that utilize machine learning with OCR and image analysis, alerting you to the presence of a wide range of check fraud scenarios including Stolen/Counterfeit Checks, Duplicate Check Number, and potential Sequence Number Jumps.
  • Check Kiting Detection: monitoring of deposit and withdrawal activity for individuals and businesses, while also analyzing account balance for potential float loss and excessive unusual behavior.
  • Check Image Viewer: in-line check image functionality allows you to visually compare checks to reduce review times and identify unusual checks.
  • Fraud Management solutions: including adaptive fraud alerts, case management, fraud reporting, management dashboards and SAR reporting.


Tagged as...

  •   Artificial Intelligence
  •   Case Management
  •   Check Fraud
  •   Fraud
  •   Fraud Management
  •   Fraud Scams