The May 2025 report highlights a surge in check fraud despite declining check usage, with suspicious activity reports more than doubling from 2021 to 2024. This trend is increasing losses and costs for financial institutions, prompting urgent investment in advanced detection tools. Consumers are sensitive to fraud, with 61% saying it could cause them to leave their bank. Vendors are deploying technologies like AI, machine learning, behavioral analytics, and enhanced image analysis to improve real-time detection and reduce false positives. The check fraud solutions market is growing at a 20% CAGR, expected to reach $1 billion by 2028.

Join for free to read