News

Check fraud solution detects suspicious activity using cross-channel analytics

Detection capabilities are based on the solution's integration with core systems, check processing systems, and even ATM image archives.

August 7, 2014

Intellinx Ltd., a provider of enterprise fraud management solutions, has developed a check fraud system that tracks multiple indicators of suspicious activity across customer, account and check data, and then combines this information with internal and external user activity collected using Intellinx sniffing technology.

According to a news release, the solution uses advanced predictive analytics to provide extensive detection capabilities based on integration with core systems, check processing systems, image sources and archives (e.g., ATM, teller, and RDC), returned items feed and returned checks.

Data is correlated with real-time monitoring of employee activity to identity potential collusion of insiders and external crime rings. Business users can define rules and choose the best way to correlate activity from different systems and display system data.

Check fraud is still a major concern, the release said. The company cited a study by the Association of Financial Professionals in which nearly 90 percent of financial professionals claimed to have experienced check fraud, and 82 percent said that checks were the primary target for fraud.