Security News > 2021 > July > Mitek Check Fraud Defender protects against sophisticated check fraud attacks

Mitek introduced Check Fraud Defender, an artificial intelligence-powered, cloud-hosted consortium for financial institutions to counteract check fraud.

An important addition to a financial institution's fraud-fighting protocols, Check Fraud Defender helps protect against the growing sophistication of check fraud attacks.

According to the report, total attempted check fraud increased to $15.1 billion and accounted for 60% of attempted fraud against deposit accounts.

The service analyzes checks deposited from all channels - mobile, in-branch and ATMs. With Check Fraud Defender's patented computer vision technology, financial institutions have a higher degree of confidence in fraud detection.

"With Check Fraud Defender, participating financial institutions will have a powerful new signal that will enable them to reduce fraud losses and false positives," said Michael Diamond, Mitek SVP and General Manager.

Check Fraud Defender combines the power of Mitek's mobile deposit and check imaging products with its SaaS-based delivery and fraud-detection identity verification solutions.

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