Jefferson Financial Federal Credit Union Prevents $1.3M in Mobile Deposit Fraud Losses with Alogent's Item Processing Suite of Solutions

Payments fraud has risen sharply since the COVID-19 pandemic. In the US, reports of suspicious check fraud activity have surged by 90% from 2021 to 2023, according to the Payments Fraud Intelligence team at Recorded Future. In response, financial institutions are using a variety of strategies to combat this rising threat.

This case study explores how Jefferson Financial Federal Credit Union (JFFCU) enhanced fraud prevention in its mobile deposit process, focusing on Alogent's item processing solution, which has been crucial in preventing millions of dollars in potential fraud losses.