PYMNTS

JANUARY 31, 2019

In the UAE, for instance, a group of banks recently banded together to crack down on acts of check-related fraud. The 52-member UAE Banks Federation recently unveiled new approaches to address check fraud activities, such as counterfeit checks, including enhanced encryption technology and unique QR codes on newly issued checks.

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AI Counterfeit Check Checks Encryption 79

PYMNTS

JULY 25, 2018

While the continued strength of BEC scammers may not come as a surprise, the research finds that the scam no longer only reigns in targets with a request for wire transfer. While 54 percent of those scams involved wire transfers, more than a third targeted check payments. The checks were forged from one of our disbursement accounts.”

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Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

JUNE 10, 2019

As reported by Threatpost , earlier this month, researchers in London identified a cybersecurity gang that has evolved markedly in scale. The group’s genesis traces to West Africa in 2008, where Craigslist was used as a conduit to send counterfeit checks.

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Business Email Compromise Scams Romance Scams Counterfeit Check 51

PYMNTS

NOVEMBER 17, 2020

Chaos and disarray, of course, have been the hallmarks of the pandemic, and even of the leap in moving from paper checks and in-person commerce and banking to digital conduits. So, it might start with a counterfeit check, but it comes from social engineering from social media,” she offered as an example.

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Authentication Online and Mobile Banking Financial Crimes Mobile Banking 78