Case Study: Cogent Bank prevents over $400K in check fraud loss with Unit21 dark web monitoring
Key results
The challenge
Cogent Bank, a Florida community bank, faced a growing threat from check fraud involving counterfeit checks, alterations, and stolen mail, with no visibility into how fraudsters were obtaining customer checks. A single team member manually reviewed 80% of the bank's 20,000 monthly checks, a resource-intensive process that could not keep pace with modern fraud tactics.
The solution
Cogent Bank deployed Unit21's transaction monitoring and dark web monitoring, integrating with its core platform and running a 12-month lookback to reveal historical exposure and block fraudulent checks before they were cashed.
“With Unit21, monitoring the dark web, we've stopped over $400K in check fraud loss. This provides us with a whole new level of customer trust.”
HAHolly AshfordSVP, Director of Deposit Operations, Cogent Bank
The results, in context
Cogent Bank reported preventing over $400K in check fraud loss, with 98% of the checks it found not yet cleared and a 12-month lookback surfacing historical exposure. The figures are documented in Unit21's Cogent Bank customer story.