Check & Deposit Fraud Detection

Has fraud got you up against a brick wall?

According to the National Check Fraud Center, check fraud and counterfeiting are the fastest-growing problems affecting the nation's financial system, producing estimated annual losses of $10 billion and losses continue to rise at an alarming rate.

As the payments business transforms with the addition of image exchange and image replacement documents, more avenues of check fraud begin to emerge. Automated image-enabled check fraud detection from Fiserv is the answer to lowering the cost to process and detect fraud!

Check kiting prevention

FraudLink Kite is a self contained, fully integrated solution that shields banks against check-kiting schemes by illuminating high-risk activity for quick, decisive action. The system's image processing, workflow monitoring and online research capabilities increase efficiency and dramatically streamline the suspect review process. In addition, onscreen viewing and decision making eliminate mountains of paper reports. For example, users can access check images, identify "red flag" indicators and get immediate online access to transaction history, daily float statistics and balances. FraudLink Kite also ensures effective controls for targeting suspicious activity, providing detailed information tailored to the bank's needs. Most banks eliminate a majority of their kiting losses once the system is installed.

Counterfeit and forged check prevention

FraudLink On-Us is a comprehensive check fraud detection system that identifies counterfeit and forged checks before payment, with unmatched precision. Installed at more than 100 financial institutions worldwide, FraudLink On-Us has been proven to identify up to 80 percent of fraudulent on-us items, allowing most banks to realize a return on their investment within six months. The solution also helps financial institutions reduce fraud losses and increase the effectiveness of their risk management efforts; offers a proven fraud detection solution that minimizes risk and reduces expenses; reduces annual losses and attempts; provides a short-term return on investment; offers a scalable, multi-bank solution; and identifies suspects more accurately through user-defined rules and parameters.

Deposit fraud protection

FraudLink Deposit is helping more than 100 banks worldwide stop deposit fraud before losses occur. The system utilizes an advanced method of comparing current account activity with bank-set rules, fraud trends and normal, established customer behaviors. As a result, banks are avoiding large losses from deposit, new account and ATM fraud, while protecting customers. The system is so effective that most banks can realize a return on their investment in six months or less. Fiserv provides complete implementation and support services to ensure that FraudLink Deposit is smoothly integrated into the bank’s existing infrastructure.

 ACH fraud prevention

FraudLink ACHeCK protects financial institutions from the threat of fraudulent electronic debits to checking accounts via the ACH network. By leveraging the FraudLink On-Us engine, ACHeCK identifies ACH electronic items that are out of sync with normal customer behavior — resulting in the detection of suspicious activity. At the same time, claims handling and return processing costs are reduced. ACHeCK can also assist in early identity theft detection by alerting the bank of unusual debit patterns within an account. With ACHeCK, financial institutions can protect their customers from the newest fraud schemes while benefiting from the competitive advantages and efficiency gains that this system provides.

For customers preferring to install on Windows Servers, we offer FraudLink PC. This covers ACH, counterfeit and forged check fraud, and deposit fraud, enabling community and mid-sized financial institutions mitigate check and electronic fraud without the cost and complexity of mainframe systems. Through powerful check, deposit and e-check fraud detection capabilities, it delivers maximum fraud protection in a single, PC-based solution. With Fiserv’s implementation services, installation is fast and simple. FraudLink PC can be eliminating losses in just a few weeks.