Colin Parsons on the Future of Check Fraud Detection

Despite the meteoric rise of digital payments, check fraud remains a persistent and costly challenge for financial institutions. In 2023 alone, over $20 billion was lost to check fraud in the United States. To understand why this legacy threat continues to thrive — and how the industry can finally stay one step ahead of it — we sat down for a conversation with Colin Parsons, Vice President and Head of Fraud Product Strategy at Nasdaq Verafin.

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Nasdaq Verafin

Nasdaq Verafin provides cloud-based Financial Crime Management Technology solutions for Fraud Detection, AML/CFT Compliance, High-Risk Customer Management, Sanctions Screening and Management, and Information Sharing. More than 2,500 financial institutions globally, representing more than $9T in collective assets, use Nasdaq Verafin to prevent fraud and strengthen AML/CFT efforts. Leveraging our unique consortium data approach in targeted analytics with artificial intelligence and machine learning, Nasdaq Verafin significantly reduces false positive alerts and delivers context-rich insights to fight financial crime more efficiently and effectively.

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Check Fraud

Colin Parsons on the Future of Check Fraud Detection

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