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.
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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.
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.
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.
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.
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.
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.
How regulators expect banks to handle the Equifax breach from a third-party risk management perspective.
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.