Browsing: Fraud
What Are the Biggest Challenges Facing the AML and Financial Crimes Communities?
The pandemic pointed out three major problems for risk professionals. Here is how to solve them.
FTC: Online Shopping Complaints Rise During Pandemic
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.
False Dichotomy: Fraud Detection and Cardholder Relationships
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.
Fed Publishes New Standardized Framework for Understanding Payments Fraud
The Federal Reserve today published a new framework that banks and other payment providers can use to classify and understand payments fraud.
Four Ways Banks Protect Seniors by Reducing Social Isolation
For seniors, social distancing saves lives but breeds vulnerability to fraud. Here’s how banks are protecting older Americans’ finances in the COVID-19 era and beyond.
FinCEN Issues Warning on COVID-19 Medical Scams, Notice on Reporting
The Financial Crimes Enforcement Network today issued an advisory on medical scams related to the coronavirus pandemic—the first in a new series of warnings about COVID-19-related financial crimes—as well as a notice on filing reports of COVID-19-related suspicious activities.
Securing the Remote Bank Workforce
Addressing security concerns, measures and protocols are essential when the bankers themselves are the ones practicing mobile banking.
COVID-19 Exposes Threats, Opportunities for the Payments Business
As consumer spending patterns shift, banks are adjusting on the fly and focusing on relationships.
Preventing Fraud in the Paycheck Protection Program
As banks process applications in round two of PPP funding, four key tips for banks to prevent fraud.