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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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Why bitcoin is not a ‘fraud’ or ‘bubble’, but something you should take seriously

Chris Skinner

Unless you have been asleep for the last year, you cannot have failed to catch the buzz around bitcoin and other cryptocurrencies such as Ethereum’s Ether and Ripple’s XRP. There are even some coins that were created as a joke that are getting significant investments, such as Dogecoin.

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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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i2c President Says Blockchain Will Unlock Cryptocurrency

PYMNTS

PayPal is opening its network to allow consumers to shop using cryptocurrency. But in the decade since bitcoin’s debut, technologies have evolved in the payments ecosystem that are helping set the stage for cryptos to become more widely adopted. Crypto has been held up by critics as a conduit to fraud and money laundering.

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Bank wire fraud – How social engineering and technology perpetrate fraud losses

Abrigo

Bank wire fraud is growing and becoming more complex. Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 2 Transnational criminal organizations commit b ank wire transfer fraud and use a variety of techniques to make Americans their victims. billion in losses reported.

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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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