March 2020 marked a watershed moment for digital banking. It marked the mass acceleration away from branches and onto banking sites and apps, with more consumers banking digitally than ever. Unfortunately, cybercriminals were quick to follow, emboldened to capitalize on the surge in digital banking....
Fraudsters took advantage of the chaos of the past year, targeting banks, businesses and consumers as all three moved more of their payments and private information online. The costs of financial crime reached a new global high of $42 billion in 2020, with money laundering...
Financial institutions (FIs) often shut down accounts at the first sign of fraud, but this blanket approach can alienate legitimate users and let stealthier cybercriminals slip through the cracks. In the latest Preventing Financial Crimes Playbook, PYMNTS spoke with an FBI spokesperson to examine why...
More businesses and consumers are conducting their daily tasks and transactions online, meaning offering seamless digital experiences is becoming increasingly important for today’s financial institutions (FIs). This also means banks must work to ensure their online services are kept secure against the bad actors as...
September 15, 2021
Financial crime risks have soared since the unprecedented shift to remote work, and the new fraud landscape has financial institutions (FIs) struggling to keep pace with prevention measures. It has become increasingly apparent that FIs can no longer afford to use legacy rules-based algorithms and manual reviews to identify and monitor potential crimes. Instead, many […]
August 19, 2021
March 2020 marked a watershed moment for digital banking. It marked the mass acceleration away from branches and onto banking sites and apps, with more consumers banking digitally than ever....
July 06, 2021
More businesses and consumers are conducting their daily tasks and transactions online, meaning offering seamless digital experiences is becoming increasingly important for today’s financial institutions (FIs). This also means banks...
May 28, 2021
The past year saw an explosion in the number of employees working from home, and many are expected to remain there. Seventy-four percent of chief financial officers expect some of...
