Survey: Customers prefer security over service when choosing banks
More Americans value fraud protection over customer service when choosing to open a new banking account, according to a new survey by analytics firm FICO.
Browsing: Fraud
ABA, banks seek to educate holiday shoppers about scams
With the holidays in full swing, the American Bankers Association and member banks across the country are stepping up efforts to educate consumers on the threat of scams and how to protect themselves this holiday shopping season.
Hsu praises ‘quiet trustworthiness’ of banks amid crypto chaos
Amid significant volatility in the cryptocurrency markets, as well as an uptick in crypto-related frauds and scams, Acting Comptroller of the Currency Michael Hsu today praised the “quiet trustworthiness of banks,” and highlighted the OCC’s “careful and cautious” approach to crypto activities by national banks.
Survey finds fraud costs rising for banks
The cost of fighting fraud is rising for U.S. banks, with every $1 lost to fraud now costing $4.36 in related expenses such as legal fees and recovery, according to a study published today by LexisNexis Risk Solutions.
Podcast: Something old, something new in payments fraud
Something old, something new: In 2022, check fraud remains a focus of bank risk professionals, while instant P2P payments are an increasingly popular platform for scammers seeking to take advantage of consumers.
ABA to FCC: Stop illegal texts, protect banks’ lawful texts
The American Banker Association recently led a group of trade groups in expressing support for the Federal Communication Commission’s proposal to require mobile wireless providers to block text messages that are that are from invalid, unallocated or unused numbers, or those on a Do-Not-Originate list.
New report, webinar explore trusted digital identities in financial services
The American Bankers Association and management consulting firm Oliver Wyman today released a new report that provides a framework for bankers to fight fraud by improving their customer identity management.
Infographic available on avoiding student loan forgiveness scams
The American Bankers Association Foundation today released a new infographic providing consumers with information on the prevalence of student loan debt forgiveness scams and red flags they can look out for to avoid falling victim.
ABA anti-phishing campaign sees successful launch
Since its launch at ABA’s Annual Convention this week, ABA’s revamped #BanksNeverAskThat campaign website, banksneveraskthat.com, has received more than 61,000 page views.
Report: Elder financial exploitation on the rise
The rate of elder financial exploitation across the globe has more than doubled since the start of the COVID-19 pandemic, with that count likely an underestimate as only one in 44 older adult victims report to the authorities that they have been targeted, according to a new report by AARP.