Detect and prevent check fraud with higher precision and efficiency by knowing the best defense strategies. In this guide, you’ll learn:
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In 2024, the preference for check payments among US consumers and businesses remains strong. Unfortunately, this preference is shared by fraudsters, making check fraud one of the most prevalent and damaging forms of financial fraud. Proving its staying power, check fraud caused FIs to file over 665,000 check fraud-related SARs in 2023. On the heels of that 134% increase in check fraud SAR filings from 2020, it’s now projected to reach a stunning $24 billion in losses globally in 2024.
While encouraging customers to adopt digital payment methods, warning about the dangers of check fraud, and prioritizing it as a fraud threat are all important mitigation strategies, they aren’t enough to stem the rising check fraud tide. This guide will introduce you to the sophisticated strategies check fraudsters use, how they operate check fraud rings to maximize attacks, and the strongest modern prevention methods and strategies to fight back.
About DataVisor
DataVisor is recognized as an industry leader and has been adopted by many Fortune 500 companies across the globe.
DataVisor is the world’s leading fraud and risk management platform that enables organizations to respond to fast-evolving fraud attacks and mitigate risks as they happen in real time. Its comprehensive solution suite combines patented machine learning technology with native device intelligence and a powerful decision engine to provide protection for the entire customer lifecycle across industries and use cases.