The February 2023 Aite-Novarica Group report highlights a significant shift in the fraud landscape, with check fraud and scams rising faster than other types, as criminals exploit new and rediscovered channels while moving away from card fraud and account takeovers. Economic uncertainty, reduced postal inspections, and improved methods of exposing vulnerabilities have fueled these crimes. Despite clear risks, fraud executives hesitate to invest in upgraded check fraud controls due to uncertain scam liability regulations and weak business cases, leaving the sector with latent demand and limited innovation.

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