Fraud Prevention

FedDetect Duplicate Notification Service Expanded to Include Commercial Checks
FedDetect Duplicate Notification Service Expanded to Include Commercial Checks
December 04, 2024  |  Fraud Prevention

Federal Reserve Financial Services (FRFS) now helps financial institutions combat check fraud by enabling them to see deposit information and images of potential duplicate items...

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Government Agencies Suggest Practices to Combat Elder Financial Exploitation
Government Agencies Suggest Practices to Combat Elder Financial Exploitation
December 04, 2024  |  Fraud Prevention

Financial institutions play an important role in combating elder financial exploitation and in supporting the victims of these crimes, federal and state agencies said Wednesday...

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Metal Cards Carve Out Place as Consumer Defense Against Fraudsters
Metal Cards Carve Out Place as Consumer Defense Against Fraudsters
December 04, 2024  |  Authentication

There’s still a place for the card — the tangible, physical card — in consumers’ wallets. In fact, Adam Lowe, Ph.D., chief product and innovation officer...

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71% of Financial Institutions Turn to AI to Fight Faster Payments Fraud
71% of Financial Institutions Turn to AI to Fight Faster Payments Fraud
December 03, 2024  |  Fraud Prevention

As demand for faster payments grows, so does the risk of fraud. More than 170 million U.S. consumers received at least one disbursement in the...

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Accounts Payable Takes the High Road to AI-Powered Growth Engine
Accounts Payable Takes the High Road to AI-Powered Growth Engine
December 02, 2024  |  Accounts Payable

Accounts payable (AP) may not always grab headlines, but its evolution is critical to business success. Get the Full Story Complete the form to unlock...

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FinCEN Aims to Expand Public-Private Partnerships Combating Fraud
FinCEN Aims to Expand Public-Private Partnerships Combating Fraud
November 25, 2024  |  Fraud Prevention

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) said it aims to expand public-private partnerships by joining The National Task Force on...

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Social Engineering Scams Prove Costly to Consumers and Bank Bottom Lines
Social Engineering Scams Prove Costly to Consumers and Bank Bottom Lines
November 22, 2024  |  Fraud Prevention

With financial institutions (FIs) fortifying their defenses and evolving their strategies against digital payment fraud, criminals are turning to a new weak spot: the customers...

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Report: Financial Scams Drive 122% Increase in Fraud Losses by US Banks
Report: Financial Scams Drive 122% Increase in Fraud Losses by US Banks
November 22, 2024  |  Fraud Prevention

Transactions have moved more digital, changing the fraud landscape. Financial institutions (FIs) have made real progress in holding off fraudsters attempting to exploit the digital...

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Founder Interview: Behavioral Analytics Makes the ROI Case for Banks’ Scam-Fighting Efforts
Founder Interview: Behavioral Analytics Makes the ROI Case for Banks’ Scam-Fighting Efforts
November 20, 2024  |  Fraud Prevention

The fraudsters come in droves, inundating would-be victims across all manner of attack vectors, from phishing scams to bots. And in the process there’s a...

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