Case Study: Cogent Bank Prevents Over $400K in Check Fraud Loss with Unit21 Dark Web Monitoring

Cogent Bank prevents over $400K in check fraud with Unit21

Cogent Bank, a financial institution operating in Florida, faced a significant surge in check fraud from alterations, counterfeits, and stolen mail. Their manual review process was unscalable and provided no visibility into how fraudsters were obtaining customer checks. To address this, they turned to Unit21 for its transaction and dark web monitoring services.

Unit21 implemented its dark web monitoring solution with zero downtime, providing immediate alerts on exposed checks. This allowed Cogent Bank to prevent over $400,000 in fraud losses by stopping 98% of flagged checks before they cleared. The solution also enabled a 12-month historical lookback to identify past exposures and served as a powerful tool to migrate customers to a more secure check verification service, significantly enhancing customer trust and operational ROI.

Cogent Bank