Document fraud, what does it look like in 2025?
A podcast about the state of document fraud, the rise of AI in fraud detection, and the future of financial crime prevention.
Brianna Valleskey
In the latest episode of Good Question, we sit down with Matt Overin, Manager of Fraud Risk Management at Logix Federal Credit Union, and Daragh McMeel, Risk Operations Manager at Inscribe, to unpack key findings from Inscribe’s 2025 Document Fraud Report. We explore the most common document fraud trends, how financial institutions are tackling document manipulation, and what fraud fighters should prioritize this year.
The rise of first-party fraud
Fraud teams are seeing a significant increase in first-party fraud, where applicants use their real identities but alter financial details—like income or account balances—to qualify for loans.
Matt shared that his team at Logix has seen this pattern grow over the last few years, reinforcing the need for stronger fraud detection beyond identity verification.
"Even good customers can go bad," Daragh explained. "Legitimate borrowers sometimes alter documents just enough to get approved for a product they might not actually qualify for.”
Key stat: 46% of fraudulent documents had only financial details (and not identity details) altered, a 4% increase from last year.
Fraud-as-a-service is fueling template-based fraud
Online fraud forums are making it easier than ever to generate fake documents. Fraudsters are using widely available templates for pay stubs, bank statements, and utility bills—often sold as part of “fraud-as-a-service” packages.
Matt noted that his team trains frontline staff to recognize common fraudulent templates, keeping bookmarked examples of fake documents to help them spot red flags more easily.
"We see the same templates over and over again," Matt shared. "And it’s shocking how accessible they are."
Key stat: Fraudulent template usage increased by 49.8% in the past year.
AI’s role in document fraud detection
AI is transforming fraud detection by analyzing documents in seconds, allowing teams to reduce manual reviews and focus on complex cases.
At Logix, Matt’s team has seen over $3 million in fraud prevention savings since implementing Inscribe’s AI-powered document analysis.
"We used to have to manually compare every document against specimen images or call other institutions," Matt explained. "Now, Inscribe does all that work for us."
Key stat: Inscribe’s AI fraud analyst reviews documents in an average of 72 seconds, compared to 10+ minutes for human reviewers.
Advice for fraud teams in 2025
The guests shared some of their top advice for fraud fighters this year:
- Stay informed: Fraud tactics evolve quickly—engage with industry groups, conferences, and peers to stay ahead.
- Use AI-powered tools: Automate detection where possible to free up investigators for high-risk cases.
- Adopt a layered defense: A Swiss cheese approach—multiple fraud prevention methods—ensures fraudsters can’t slip through the cracks.
Notorious fraudsters and famous document scams
To wrap up the episode, the guests shared some of history’s most notorious document fraud cases:
Matt’s pick: Frank Abagnale, the con artist behind Catch Me If You Can, who forged checks and assumed multiple false identities.
Daragh’s pick: Bernie Madoff, who used falsified investment statements to fuel his infamous $65 billion Ponzi scheme.
Brianna’s pick: The Bitfinex hackers, who stole billions in Bitcoin and were caught after submitting a Photoshopped utility bill during KYC verification.
Closing thoughts
Document fraud is evolving, but fraud fighters have more tools than ever to fight back. The 2025 Document Fraud Report provides crucial insights into these emerging trends—and practical steps to protect your institution.
📌 Get your free copy of this year’s Document Fraud Report here and stay ahead of fraud in 2025.
P.S. Listen to the full episode for more fraud insights (and to hear which day of the week sees the most fraud attempts)!
Sources cited
About the Guests
Brianna Valleskey is the Head of Marketing at Inscribe AI. A former journalist and longtime B2B marketing leader, Brianna is the creator and host of Good Question, where she brings together experts at the intersection of fraud, fintech, and AI. She’s passionate about making technical topics accessible and inspiring the next generation of risk leaders, and was named 2022 Experimental Marketer of the Year and one of the 2023 Top 50 Woman in Content.
Daragh McMeel, QFA, is Risk Ops Lead at Inscribe AI. He is a Qualified Financial Advisor (QFA), as well as a member of the Institute of Bankers in Ireland (IOB) and the Association of Certified Fraud Examiners (ACFE). Daragh developed a passion for fighting fraud after working in the verification and underwriting processes at multiple financial institutions including Humm, Ireland's leading BNPL provider. Prior to Inscribe, Daragh also served in roles at ME Bank and Great Southern Bank in Australia.
Matt Overin is the Manager of Fraud and Risk Management at Logix Federal Credit Union and a seasoned banking professional with over 30 years of experience spanning retail and commercial banking, residential lending, and insurance. In his current role at Logix, he plays a pivotal role in developing fraud prevention, detection, investigation, and recovery strategies. His extensive background in both front-line and back-office banking has given him a unique perspective on tackling fraud in today’s evolving landscape.
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