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Advanced Fraud Solutions issues report on the rise of mobile deposit scams

Tuesday 15 September 2020 10:34 CET | News

US-based provider of deposit fraud detection software Advanced Fraud Solutions (AFS) has announced the release of a new report, Beware of Mobile Deposit Scams.

The report covers matters of how the increasing adoption of mobile banking has created new opportunities for fraud. The paper explores in detail how fraud operators use mobile deposits as a means to steal funds. The paper also highlights best practices for banks and credit unions to securely accept mobile deposits. 

According to the paper, the use of mobile banking apps has soared since the beginning of 2020. The FBI reports that there has been a 50% surge in mobile banking since the beginning of year. And that fraud operators are actively looking to exploit new mobile banking customers using a variety of techniques.

Among the paper’s recommendations to secure mobile deposits, AFS details the addition of real-time assessment, access to better, more robust data, as well as the use of AFS’ leading check fraud prevention solutions, TrueChecks, to help mitigate potential losses.


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Keywords: Advanced Fraud Solutions, AFS, report, study, research, fraud prevention, mobile banking, mobile banking app, TrueChecks, securing transaction, cybersecurity, world
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions