OrboGraph Launches #OrboIntelligence Check Fraud Hub
BILLERICA, Mass., Nov. 17, 2022 (GLOBE NEWSWIRE) -- OrboGraph, a premier supplier of check processing automation and fraud detection software and services, announced today the launch of the #OrboIntelligence Check Fraud Hub (www.orbograph.com/orbointelligence-check-fraud-resources-hub/) - a dedicated microsite resource centralizing primary and secondary research, industry trends, and third-party reports in the field of check and payments fraud.
The banking industry is experiencing a dramatic increase in check fraud attacks, affecting a wide range of customers and workflows. For example, the OrboGraph Check Fraud Blog reported the following BAI Research: 62% of banks indicated that third-party check fraud is their biggest issue, and 59% of banks indicated that first-party check fraud is their biggest issue. One of the major sources of check fraud is over 2,000 assaults and robberies of U.S. Postal Inspection Service carriers and mailboxes -- a 1300% increase.
As a leader in check fraud detection, OrboGraph is supporting the banking industry in fighting fraud by developing a resource hub for published information and data regarding check and paymentsfraud. The last formal ABA industry benchmark survey was published based on 2018 data. Meanwhile, a variety of industry companies and associations have published fraud reports, including AFP, Lexis Nexus, Alogent, and more.
"During the OrboGraph Check Fraud Roundtable, we discovered a need to support our existing and prospective clients with a microsite consolidating fraud reports within the industry," stated Joseph J. Gregory, Chief Strategy Officer at OrboGraph. "As a thought leader, we feel that it's a great opportunity to illuminate and facilitate best practices."
Barry Cohen, Chief Executive Officer, commented, "Throughout our 27 years in business, we have developed a reputation as a trusted source, and it only makes sense that we use our position to better help educate the industry."
"The faster we identify new trends, the quicker we can adapt our image forensic technology to new attacks. This is one way to help that process," stated Yaron Katzir, Vice President of Product Management.
The #OrboIntelligence Check Fraud Hub will be updated on a weekly basis.
For more information, please contact Joe J. Gregory at [email protected]
OrboGraph LLC. and OrboGraph LTD. (www.orbograph.com), an independent company of Revenue Management Solutions (RMS), is a premier developer and supplier of recognition solutions, payment negotiability, and check fraud detection for the U.S. check processing market. Nearly 4,000 financial institutions, service bureaus, and clearinghouses rely on OrboGraph technology to process billions of checks and payments annually.
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