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Fraud typologies all financial institutions should know

Abrigo

Can your AML/CFT and fraud staff recognize these fraud typologies? The technology used to perpetrate financial crimes may be changing, but these common fraud typologies aren't going anywhere. This is a nearly 10% increase in complaints received and a 22% increase in losses and thats just fraud that was offically reported.

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Crypto scams & crypto fraud detection for financial institutions

Abrigo

Protect banking clients by knowing crypto trends and red flags The turbulent cryptocurrency scene should put bankers on high alert. You might also like this whitepaper, "Understanding cryptocurrency." DOWNLOAD WHITEPAPER Growing popularity What is driving the rise in crypto fraud? Why is crypto fraud skyrocketing?

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Protecting customers from disaster fraud: What financial institutions need to know

Abrigo

Protecting customers from disaster fraud In the aftermath of hurricanes, wildfires, floods, and other natural disasters , vulnerable communities often see an uptick in disaster fraud schemes designed to steal personal information or relief funds from would-be donors. Staying on top of fraud is a full-time job.

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What is elder financial exploitation? FinCEN guidance for financial institutions

Abrigo

Education, collaboration, and advanced fraud detection software can help prevent it. The increasing threat of elder fraud On December 4, 2024, FinCEN, along with the supervisory agencies, issued a s tatement on e lder f inancial e xploitatio n, or elder fraud. Get details What is elder financial exploitation?

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Love and lies: How financial institutions can help prevent confidence scams

Abrigo

Unfortunately, scammers take advantage of this time to exploit vulnerable individuals through confidence scams, one of the most prevalent and costly types of fraud in the U.S. billion of reported losses due to this type of fraud in 2023 and around 40,000 victims in the United States. Staying on top of fraud is a full-time job.

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i2c President Says Blockchain Will Unlock Cryptocurrency

PYMNTS

PayPal is opening its network to allow consumers to shop using cryptocurrency. We are the infrastructure that takes what is effectively a virtual wallet — in a mobile or online sense — and connects it to the real world, either eCommerce or face to face with a card,” he said. Square bought $50 million of bitcoin. Back in May, i2c Inc.

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The United States May License Bitcoin and Cryptocurrency Exchanges

Bank Innovation

The Acting Comptroller of the Currency of the United States, Keith Noreika, has stated that he is considering imposing a nationwide licensing program for cryptocurrency exchanges, similar to the licensing program recently enacted in Japan. Last week, Japan’s […].