James Watts

speaker

202 appearances 1 recordings 1 series first heard May 2025 last heard May 2025

James Watts’s voice in public audio — every appearance, attributed to the second.

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Off the Rails from the U.S. Faster Payments Council - FPC · 8 May 2025 James Watts of Mitek on Check Fraud, Payments Fraud, Dispute Resolution, and the Juicy Lucy · 8 May 2025 podcast

Now, what we also see today is fraudsters using sophisticated photo editing software to alter stuff and making it match or creating complete counterfeit checks.

But you know what?

It's even easier than that.

You know, if I was a bad guy today, I could go to an office supply store, buy real check stock paper, use free software if I have a victim's account routing number and make my own checks.

And it's a legitimate looking document.

So the other thing we're seeing is a large amount of organized crime rings in geographic areas that move bank to bank.

It's not your crime of opportunity that it was more previously.

It's definitely a shift to more organized crime.

Speaking of those rings, we see another significant rise in insider threats, working with the bad guys, whether it be in the teller lines, the call centers, within the whole gamut of financial institutions.

If you look on the criminal marketplaces, I know everybody likes to popularize the dark web, but I posit that.

I will say every one of us is two clicks away from a criminal marketplace on any social media platform that has, whether it's Facebook, Telegram, Pinterest, TikTok, it's epidemic across all of them.

And these brokers are advertising what they call innies or insiders that feed them information from all major financial institutions.

You speak of that, but it's true.

The area I live in, I'm in not a really rural area, but I'm outside of a major city.

So no one, contractors, landscapers, anybody in my area takes electronic payments, not even card.

So every service I have performed, I have to write them a check.

So I've written more checks since moving here than I did probably in the last 10 years of my life.

And you got to wait several or maybe come into a branch to bring it in.

Yeah, regardless of the settlement process.

The two participants in that transaction don't care about what's happening behind the scenes.

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