Banks and other financial institutions have been “strong partners” in assisting the Department of Justice and law enforcement detect and investigate potential fraud connected to the Small Business Administration’s Paycheck Protection Program, Acting Assistant Attorney General Brian Rabbitt noted in a press conference today.
Even before consumers’ acceleration to online shopping due to the pandemic, card-not-present debit transactions rose 21% year-on-year in 2019, according to Pulse’s debit issuer survey released today.
The Financial Crimes Enforcement Network issued an advisory alerting financial institutions to several types of cybercrime and cyber-enabled crime connected to the coronavirus pandemic.
The Financial Crimes Enforcement Network today warned financial institutions about a recent high-profile scam through which fraudsters exploit prominent Twitter accounts to solicit virtual currency payments from victims.
The Financial Crimes Enforcement Network today issued an advisory alerting financial institutions to imposter scams and money mule schemes connected to the coronavirus pandemic.
The pandemic pointed out three major problems for risk professionals. Here is how to solve them.
Reports of fraud and unreceived merchandise purchased online increased dramatically during the pandemic, according to new data released by the Federal Trade Commission, far surpassing the numbers seen during the most recent holiday shopping season.
Banks can benefit from fraud analytics models and machine learning—and can even deputize cardholders into proactively helping them understand where transactions are legitimate and to identify potentially fraudulent activity.
The Federal Reserve today published a new framework that banks and other payment providers can use to classify and understand payments fraud.