Check fraud detection using Machine Learning

SpringML has developed a Machine Learning-based fraud detection module to identify fraudulent checks. As banks become more digital, check clearance processes need to be automated to minimize check fraud. Since the last decade, the number of physical checks has decreased, but U.S. government data shows that check fraud is increasing by an alarming 70% each year over the last five years. The video below explores a Machine Learning-based Check Fraud Detection module, which uses rules and historical fraud data to learn how it determines whether a check is fraudulent.

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