Skip to content

Category: Check Fraud

AFS and Cook Solutions Group Partner to Bring Deposit Fraud Intelligence to Conveyance Serverless Check Imaging 

High Point, NC and Portland, OR –  Advanced Fraud Solutions (AFS), a leader in deposit and payments fraud prevention, announced a new partnership with Cook Solutions Group (CSG), a national provider of security, retail banking and managed services. The integration will connect AFS’s consortium-based deposit fraud detection with Conveyance, CSG’s serverless cloud check imaging solution … Continued

Cross-Generation Fraud Insights for Financial Institutions

Cross-Generation Fraud Insights for Financial Institutions Different generations see money, payments, and risk through very different lenses. For financial institutions, that means fraud exposure doesn’t look the same for older adults, Gen X, millennials, and Gen Z, even when they use the same channels. This overview highlights cross-generation fraud facts you can use in customer … Continued

The Practical Guide to US Treasury Check Verification and Fraud Prevention

While all financial institutions have access to TCVS, how you integrate it into your fraud prevention process makes a difference. The Treasury Check Information System (TCIS) accesses data related to U.S. Treasury checks and Automated Clearing House (ACH) payments, providing a comprehensive dashboard for managing payment data. Here are the primary ways to access TCVS … Continued

Unexpected Check From United States Treasury? Latest Treasury Scams

The phrase “treasury check” might not raise alarms for most, but it should. Government-issued checks often include identifiable markers, and any checks lacking this designation could be fraudulent. It is crucial to check the sender’s address on any government-issued check, as verifying the address helps confirm the authenticity of the payment and ensures it is … Continued

The Alarming Rise of Check Washing Scams 

Check-washing scams are experiencing a frightening resurgence. Across the country, fraudsters are stealing checks and altering them to steal large sums of money. The number of reported cases in 2022 reached 680,000, nearly double the previous year, according to the Financial Crimes Enforcement Network. 

AFS Fraud Insights: Massive Treasury Check Fraud Avoided

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

AFS Fraud Insights: Check and ACH cases to study this week

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

Advanced Fraud Solutions to Showcase Real-Time Check Fraud Prevention at Jack Henry™ Connect 2025

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

Fraud insights: Ally Bank spoof, OCC enforcement, and HELOC fraud

  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

Changing Landscape Of Check Fraud

Check fraud isn’t going away Banks and credit unions continue to cite check as a major fraud risk. Even despite a lower volume of checks in circulation, fraud operators are evolving their tactics and leveraging checks as a low-cost, low-technology vehicle for fraud. Read Advanced Fraud Solutions’ annual report, The Changing Landscape of Check Fraud, … Continued

Close Modal