Asset size
$1.8 billion
Product
Abrigo Fraud Detection
Results
Earlier fraud detection and faster workflows
When a locally-owned bank in Illinois with $1.8
billion in assets began noticing rising check fraud,
its BSA team knew that its existing manual
processes were no longer sustainable. The
institution needed a way to identify suspicious
activity earlier, reduce losses, and better connect
fraud detection with BSA reporting. That need
ultimately led the team to Abrigo Fraud Detection.
Before implementing Abrigo Fraud Detection, the bank relied heavily on manual review processes to identify potentially fraudulent checks. The fraud team averaged about $1 million in reported fraudulent checks per year, according to the Senior Operations Officer, who works hands-on in fraud detection at the bank. To combat those losses, the Senior Operations Officer manually reviewed every on-us check over $5,000.
The bank’s BSA team began implementing Abrigo Fraud Detection in 2024, focusing on stopping fraud earlier in the process and creating a more structured workflow.
“One of the biggest benefits is catching it before it evolves into a bigger issue,” the Senior Operations Officer said. “Before, we would have several checks hit an account, and then we’d find out about it afterwards. Whereas now we find it typically the day it happens.”
That earlier visibility has made a significant difference in outcomes. Instead of piecing together information across systems, the fraud team can now review flagged items in one place, compare activity more efficiently, and take action sooner. “Having this program puts it all into one spot to be able to compare,” the officer explained. “The ease of the process was definitely improved.”
