Report: Total Number of Fraud Victims Tops 16 Million
The number of fraud victims in the U.S. rose by eight percent in 2017 to total 16.7 million, according to new data released by Javelin Strategy & Research last week.
Browsing: Cyber crime
IRS Issues Warning about Tax Scam Targeting Preparers’ Data
With the 2018 tax filing season kicking off this week, the IRS today issued a warning about an emergent identity theft tax scam that targets tax preparers’ computers and, in some cases, involves depositing funds in victims’ bank accounts.
New Infographic Highlights Tips for Avoiding Online Dating Scams
A new infographic published by the ABA Foundation and the Federal Trade Commission alerts consumers to the growing threat of online data scams and provides tips for how they can protect themselves.
ABA Report: Banks Stopped Nearly $17 Billion in Fraud Attempts in 2016
The nation’s banks stopped nearly $17 billion in fraudulent transactions in 2016 — a figure that represents a substantial increase since 2014 in attempted fraud, when the industry stopped $11 billion — according to ABA’s 2017 Deposit Account Fraud Survey Report released today.
Banks Say Risk Management is An Area of Increasing Concern
New regulations and recent data breaches have elevated banks’ concerns about risk management, according to the Regulatory and Risk Management study by Wolters Kluwer released today.
OFR Raises Concerns about Market, Cyber Risk in 2017 Report
While the financial system is more resilient today than in the years before the financial crisis, new vulnerabilities — including market risk and cyber risk — continue to pose threats to financial stability, the Office of Financial Research said in its financial stability report released today.
Survey: Share of Businesses Reporting Fraud Attempts Jumps 58 Percent
The number of companies reporting fraud attempts leaped from 42 percent in 2016 to 67 percent in 2017, according to an annual fraud study by fraud prevention vendor IDology.
Third-Party Tactics: Tips for Managing the Equifax Breach
How regulators expect banks to handle the Equifax breach from a third-party risk management perspective.
Trade Associations Call for National Data Breach Standard
As the House Financial Services Committee today held a hearing on data security, the American Bankers Association and six financial trade associations wrote to lawmakers calling for a national data security and breach notification standard.
ABA Endorses CyberScout’s Data Breach Services
With high-profile data breaches continuing to make headlines, the American Bankers Association has endorsed the data breach services offered by CyberScout to help banks stay a step ahead of the growing threat.