Top 5 Vulnerabilities and Trends in Check Fraud for 2023

Ask anyone in the banking space and they will tell you - check fraud is back and is surging. The last benchmark of 2018 showed estimates of $15B in fraud attempts, translating into $1.3B in losses. Most experts and financial institutions agree that attempts are up 300%+ from pre-pandemic levels.

And that’s not limited to merely growing instances of check fraud. We are also seeing the methodology evolve, with sophisticated online marketplaces -- via the “dark web” -- aiding bad actors with the tools needed to perpetuate and streamline check fraud. There has also been a very disturbing rise in assaults of mail carriers to steal keys that open blue USPS public mailboxes, as well as pilfering carriers checks that are out for delivery.

But what are the reasons for the reemergence of check fraud? And what are the trends to watch for in 2023?

Whitepaper

Complete the form below to download the content.

* - marks a required field

Email Address

First Name

Last Name

Address

City

Country

State

Post Code

Phone

Answer the following questions about your organization below:

Company Name

How many people are employed by your organization?

What is your company's revenue?

In which industry do you work?

Job Title

Job Level

By clicking ‘Submit’ you agree to our Terms of Use. We take your privacy seriously. For more information please read our Privacy Policy.