Check fraud remains a costly challenge, draining financial institutions of over $1.3 billion annually. As fraudsters adapt, traditional tools fall short. Criminals now exploit ATMs, mobile deposits, and remote channels to evade outdated detection methods.
AI-driven check fraud detection solution
Check fraud management for
banks and credit unions
Early adopters of Abrigo Fraud Detection are recouping their investment after six months or less of use based on their average monthly reduced fraud losses.
90%+ Fraud Detection
Abrigo Fraud Detection has identified more than 90% of fraudulent check value for the most engaged early adopters by calibrating to each institution’s unique risk profile, providing accuracy and protection.
Combat check fraud
Abrigo is your trusted partner in combating check fraud, equipping your institution with advanced AI-driven tools to defend against fraudulent activity. Abrigo Fraud Detection provides a tailored approach, combining machine learning with rule-based logic to enhance accuracy and efficiency. By automating fraud detection and decisioning, the system reduces manual workload, flags suspicious transactions, and streamlines investigations. This empowers fraud teams to act swiftly, minimize losses, and protect assets before fraud can occur.
Enhanced Fraud Detection with Mitek’s Award-Winning Check Image Analysis
Abrigo’s fraud detection solution integrates Mitek’s advanced image analysis, leveraging insights from a nationwide check fraud data consortium. By evaluating over 24 attribute scores, the system identifies counterfeit and altered checks with greater precision, helping financial institutions mitigate fraud more effectively.
Features & advantages of check fraud detection
Comprehensive check fraud detection
to stay ahead of the curve
Abrigo provides a multi-layered fraud detection approach by integrating Mitek’s AI-driven check image analysis, a nationwide check image data consortium, and Abrigo’s decision engine to identify forgeries, altered checks, and fraudulent transactions. By processing data from teller systems, mobile and remote deposits, and ATMs, our solution delivers end-to-end fraud protection.
Check Image Analysis
Deep computational visual analysis examines 24 distinct check attributes, including check stock, payee integrity, ink consistency, and signature validity, to help you find fraud faster.
Consortium Analytics
Participate in a nationwide consortium of financial institutions sharing check fraud data to learn from your peers and strengthen your detection capabilities.
Customer Collaboration
Enable text message verification through the solution to involve customers in the fraud detection process, allowing for faster and more accurate alert resolution
Check Fraud Reports
Monitor analyst performance and get actionable insights into the impact of fraud at your institution to help you make better decisions and anticipate new threats.
"Abrigo's check fraud solution identified a $190k fraudulent check, preventing a significant loss to our bank. Without the tool, we likely would have incurred the full loss."
Mike Gillen, BSA Officer, Richwood Banking Company
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Integrated Systems with Abrigo
Financial crime systems built for your institution
Breaking down silos between fraud detection and AML
Abrigo is dedicated to supporting banks and credit unions in the fight against financial crime. With Abrigo’s comprehensive financial crime solutions and services that include fraud detection software and AML software, you can collaborate across teams to better detect, manage and resolve suspicious financial activity throughout your institution.
Resources on Check Fraud Detection
Check fraud and the dark web – Detection and prevention
Whitepaper
Download this whitepaper to learn more about the dark web, and how financial institutions can fight the surge in check fraud proliferating on the dark web.
What is check image analysis and how does it prevent fraud?
Blog
Check image analysis is a new tool for financial institutions to leverage in the fight against surging check fraud rates.
Beyond immediate fraud losses - The true cost of fraud
Infographic
Learn about the full impact fraud loss can have on your financial institution
