Originally Presented: June 26, 2024
In 2023, $21 billion, or 80%, of global check fraud took place in the Americas, primarily the U.S. As complex fraud scenarios such as washed and altered checks grow increasingly prevalent, financial institutions need an innovative solution that is continuously improving, using consortium data to enable machine learning and insight into deposit-side risk.
Industry expert Nick Pearson discusses the challenge of check fraud today, and the power of a multi-faceted approach to prevention — leveraging images, behavioral transactions, and insights into customer risk on both sides of a transaction for more effective detection with fewer false positives.
