PLEASANTON, Calif.–(BUSINESS WIRE)–Global branded payments provider, Blackhawk Network (BHN) has partnered with Visa Inc. and Mastercard to bring the speed, convenience and security of an eGift into physical retail stores with the launch of Visa® eGift and Mastercard® eGift. The patented, tamper-evident gift carrier does not have a card inside. Rather, once the eGift is activated at purchase, consumers use a mobile device […]| Merchant Fraud Journal
ALLENTOWN, Pa.–(BUSINESS WIRE)–Most businesses today rely on vendors and suppliers for many reasons – be it to manufacture goods before they’re shipped to customers or to perform certain services that will help the business maintain operations. Regardless, vendors and suppliers are a critical part of the operational flow of businesses. But as Creditsafe’s Battling Vendor Fraud […]| Merchant Fraud Journal
ARLINGTON, Va., Aug. 6, 2024 /PRNewswire/ — Despite the decline in check volume, 90% of U.S. banks surveyed said check fraud is ballooning, according to a new survey released today by fintech IntraFi. The survey, which included responses from 471 banks, found that more than a quarter of banks experienced a 50% or higher increase in check fraud over the past three […]| Merchant Fraud Journal
Attempted $410,000 Treasury check deposit stopped at credit union An individual using false identity documents opened accounts and tried to deposit a stolen Treasury check. The attempt hinged on quick onboarding and immediate access to funds. Apply extended holds and payee-match on high-value government checks. Validate IDs against trusted data sources. Re-verify profiles after address … Continued| Advanced Fraud Solutions
Stolen, altered check triggers six-figure loss before stop-pay lands A Kansas City case shows how a stolen and altered $881,324 check was deposited and quickly converted to cashier’s checks and cash before a stop-payment reached the bank. Require enhanced KYC for new business accounts with large first deposits. Tighten large-item review and exception holds for … Continued The post AFS Fraud Insights: Check and ACH cases to study this week appeared first on Advanced Fraud Solutions.| Advanced Fraud Solutions
TrueChecks® + Jack Henry AlertCenter™ help financial institutions stop fraudulent deposits at the teller and through digital channels Advanced Fraud Solutions (AFS), the leader in deposit-fraud detection for community banks and credit unions, will present and exhibit at Jack Henry™ Connect 2025. AFS will highlight how its TrueChecks® solution, integrated with Jack Henry AlertCenter™, enables … Continued The post Advanced Fraud Solutions to Showcase Real-Time Check Fraud Prevention a...| Advanced Fraud Solutions
Quick Headlines Ally Bank targeted via FBI-agent spoof, attempted bank-fraud play Connecticut indictment alleges stolen-check scheme hitting bank accounts OCC releases August enforcement actions with governance signals Loan officer HELOC manipulation case moves toward sentencing Key Stories Ally Bank spoof via fake FBI authority DOJ reports a Texas suspect posed as an FBI agent … Continued The post Fraud insights: Ally Bank spoof, OCC enforcement, and HELOC fraud appeared first on Advanced ...| Advanced Fraud Solutions
Fighting check fraud will require greater collaboration and cooperation between federal, state and local agencies alongside private sector stakeholders such| ABA Banking Journal
Payment fraud is an ever-present threat in the modern business landscape, costing organizations billions annually. Whether it’s unauthorized transactions, check fraud, or cyber-related schemes, quick action and preventive measures are crucial to minimizing damage. If you suspect payment fraud in your business, here’s a comprehensive guide on how to handle the situation effectively and prevent […] The post What to Do If You Suspect Payment Fraud in Your Business appeared first on SmartPa...| SmartPayables
Learn how fraudsters target unsuspecting victims through relationship and trust scams to carry out check fraud – and how the ScamClassifier(SM) model can be leveraged for more robust prevention and customer education.| FedPayments Improvement
Fraudsters often leverage fraudulent paper checks to help perpetrate scams. Learn how the ScamClassifier(SM) model can assist in identifying the root cause of the fraud that occurred due to a scam.| FedPayments Improvement
The American Bankers Association Foundation and the U.S. Postal Inspection Service today released three new infographics on money mule scams| ABA Banking Journal
