Stop Fraud in its Tracks: Mitigate Check Fraud at the Point of Presentment
Check fraud is big business in today’s climate. Too many financial institutions rely on inflexible methods to prevent or address sophisticated fraudster schemes that change rapidly with the market climate. Through Q1 of 2020 alone, the FPC reported COVID-19 related fraud had already totaled $13.4 million. Perpetrators who capitalize on a bank or credit union’s vulnerabilities erode account holder trust and cause irreversible reputational damage – not to mention the financial loss incurred by the FI. Hear how real-time, AI-based tools can help stop fraud in its tracks.