Check Fraud News
Ten indicted in S. Fla. identity theft ring
A former BankAtlantic teller and nine others have been indicted by a federal grand jury in West Palm Beach in what authorities have dubbed Operation Felony Lane...
Oklahoma teen accused of bank fraud in Madison County
A teen-ager from Broken Arrow, Okla., obtained between $10,000 and $100,000 in a fraudulent scheme against the Bank of Edwardsville, Madison County prosecutors alleged today...
Metropolis developer found guilty of check fraud
The developer who built Metropolis in Plainfield will spend a year on home detention. A judge found Christopher White guilty of fraud for writing half a million dollars in bad checks...
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Check Fraud
It's time to address a top loss area at your financial institution—check fraud. This costly problem remains unsolved despite years of investment in manpower and existing systems. And it's growing, fueled by collusive gangs, cross-channel fraud, and other sophisticated schemes.
Find more check fraud, more efficiently
Memento Security-Check Fraud helps you detect and stop on-us fraud, deposit fraud, and check kiting —more accurately, efficiently, and completely than current solutions. It combines:
- Next generation analytics to accurately find fraud while significantly reducing false positives.
- An innovative user interface that enables analysts to disposition and research alerts quickly and accurately.
- Integrated forensic research tools, and case management to help fraud prevention teams gain a complete view of fraud, related events and information.
An old problem demands a new approach
Based on the award-winning Memento Security enterprise fraud management platform, Memento Security-Check Fraud is designed from the ground up to meet the challenges of detecting and stopping all types of check fraud:
- On-Us Fraud—Memento Security-Check Fraud combines state-of-the-art analytics with multi-dimensional scoring to accurately identify all types of fraudulent checks including counterfeits, alterations and forged items while dramatically reducing false positives. Analysts can focus on the highest-risk items, making sure the necessary actions are taken before the point of value transfer.
- Deposit Fraud—New account scams, account takeovers and vulnerable customers require a next-generation solution to spot deposit fraud proactively, rather than reactively. The customer-level, cross-channel view and advanced collusive network discovery help stop complex, damaging attacks.
- Check Kiting—On purpose or by accident, account holders using the float to their advantage are a risk. Memento Security-Check Fraud presents all necessary data—from uncollected balance to the sources and uses of funds—to your analysts in one application. And the solution monitors the rate of change within suspect accounts to make sure your institution is the first to discover a kite.
Reduce losses and false positives
With Memento Security-Check Fraud, you can zero in on real evidence of check fraud, not wade through false positives. Boost the efficiency of your entire check fraud detection operation. Empower your analysts to conduct forensic research. And broaden the scope of your fraud monitoring. All with the team you have in place today.