Remove 2025 Remove National Remove Operations
article thumbnail

Fraud typologies all financial institutions should know

Abrigo

Connect with an expert Common fraud schemes Check fraud Check fraud is one of the most concerning fraud trends for community banks in 2025. Ponzi schemes A fraudulent investment operation that pays returns to earlier investors using money from new investors rather than legitimate profits.

Fraud 221
article thumbnail

How AI helps prevent fraud and false positives—without replacing compliance professionals

Abrigo

This blog was written with the assistance of ChatGPT, an AI large language model, and was reviewed and revised by the subject-matter expert.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fraud and AML integration: Is the FRAML approach right for your financial institution?

Abrigo

With fraud rates surging and FinCEN designating fraud as a National Priority , combining these functions under the same umbrella could be a game-changer. With FRAML, institutions can reduce duplicated technology and staffing needs, creating operational efficiencies that lower costs.

Fraud 195
article thumbnail

How to prevent internal fraud at your bank or credit union

Abrigo

In a 2024 report , the Association of Certified Fraud Examiners (ACFE) found that insider fraud represents a significant risk to every organization's operations. This can include falsifying financial records, misappropriating funds, or manipulating transactions to conceal illicit activities. billion in total losses.

Fraud 195
article thumbnail

Wire fraud: What it is and how to prevent it

Abrigo

Lets explore key aspects of wire fraud and best practices financial institutions can use to protect their clients and their operations. Banks and credit unions should educate clients on how these scams operate and encourage them to verify all wire requests independently. Staying on top of fraud is a full-time job.

Fraud 195
article thumbnail

Next Up

Gonzobanker

Not if you trust various Industry experts who predict that half of all board and senior management positions will turn over to fresh facesby the end of 2025. Such a shift raises a crucial question for aspiring leaders: How can they position themselves for new opportunities in 2025? The catalyst?

article thumbnail

Kohl?s Leans Into Digital During Pandemic Store Closures

PYMNTS

These include operating with limited store hours, social distancing signage, elevated cleaning procedures, a new returns process, among many others,” Gass said. The retailer, for its part, has reopened approximately half of its stores throughout the nation.

Retail 235