ABA Fraudcast: The power of AI and trusting that voice on the phone

ABA announced that Rebecca “Becky” Schauer Robertson at Blue Ridge Bank and Karen Boyer at M&T Bank have received the ABA Distinguished Service Awards for Anti-Money Laundering/Combating the Financing of Terrorism and Fraud Management, respectively.

The OCC placed much of the blame on “inexact” reputational risk policies: “This practice infused the value judgments of stakeholders into banks’ business decisions."

U.S. District Attorney for D.C. Jeanine Pirro urged bankers to be “proactive” and work closely with law enforcement to fight the growing problem of financial fraud and scams orchestrated by transnational criminal organizations.

I tell my team at First Independence all the time: We have to think and act like a technology company.

As banking agencies consider amending the regulations that implement the Community Reinvestment Act, they should preserve the broader framework while making changes to better tailor supervision, increase regulatory thresholds and focus on lending, ABA and 45 state bankers...

Forty-nine percent of survey respondents said they used an AI assistant to make a personal financial decision. Among those, however, 83% verified the information with another source or professional.