Abrigo

FEBRUARY 22, 2024

Check fraud prevention is at the forefront for financial institutions Banks and credit unions report that check fraud is impacting their institution more than any other threat. You might also like this upcoming webinar on Homeland Security fraud investigations. These conditions can increase the likelihood of all types of fraud.

Fraud 195

Fraud Trends Training Maine 195

Abrigo

SEPTEMBER 6, 2023

Takeaway 1 Check fraud detection is a critical component of AML programs because it is one type of fraud that continues to trend upward in financial institutions. Takeaway 2 According to the FBI, reported losses from check fraud total $1 8 billion annually.

Fraud 195

Fraud Trends Training System 195

Abrigo

NOVEMBER 17, 2023

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. That equates to $35 billion annually.

Fraud 195

Fraud Training Trends Compliance 195

BankInovation

JANUARY 30, 2024

Technology and innovations advanced in leaps and bounds in 2023, including enhancements to AI, the introduction of generative AI and investment in data analytics.

Fraud 121

Fraud Data Analytics Innovation 121

Abrigo

SEPTEMBER 20, 2023

Understanding tax ID fraud FinCrime professionals looking to prevent tax ID fraud, first need to understand the fundamentals of what is happening and their best recourse for prevention. Takeaway 3 If you suspect this type of fraud, file a SAR with the term "tax refund fraud" in the narrative.

Taxes 195

Taxes Fraud Trends Exercises 195

Abrigo

SEPTEMBER 21, 2023

Internet bank fraud is here to stay; learn how to detect and stop it. Every type of fraud has something unique it leverages to dupe unsuspecting citizens. Learn what is different about internet bank fraud. Takeaway 1 It is important to monitor fraud effectively and consistently.

Fraud 195

Fraud Software Mobile Online 195

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3 billion in fraud losses in 2022. billion in 2021.

Fraud 195

Fraud cryptocurrency Training social media 195

Perficient

AUGUST 23, 2021

Data fuels the engine of the digital economy. Connected experiences, in the context of the customer relationship, are driven by a robust data set that confidently presents integrated, diverse data to enable actionable insights that can be automated across the customer’s journey. by the middle of the 2020s.

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Data Analytics Trends Fraud 508

Payments Dive

JULY 12, 2024

Use of data-sharing protocols among banks could warn customers before they send money, said Carl Slabicki, a BNY executive.

Fraud 433

Fraud Payments Data 433

Abrigo

DECEMBER 22, 2023

The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. You might also like this infographic on the true costs of fraud at financial institutions. Here are Abrigo’s 10 top AML and fraud blogs in 2023.

Fraud 221

Fraud Training Compliance Trends 221

PYMNTS

JANUARY 13, 2021

The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Developments F rom The World Of Digital Fraud. Developments F rom The World Of Digital Fraud. For more on these and other digital fraud news items, download this month’s Tracker.

Fraud 189

Fraud Analytics Data Retail 189

PYMNTS

DECEMBER 7, 2020

At a time when 80 percent of apps ask for (and are usually given) users’ geolocation data, the fact that most mobile banking applications still don’t is unacceptable, GeoGuard CEO David Briggs told Karen Webster in an interview. So, the company simply promises to never share or sell location data to third parties. “My

Fraud 232

Fraud Data Detroit Security 232

PYMNTS

NOVEMBER 30, 2020

There are other benefits that the function could provide, however, including more robust fraud protection. Being granted access to their customers’ true geographic locations could give financial institutions (FIs) crucial access to data that could protect consumers’ accounts, especially as more of them use mobile channels to shop and pay.

Fraud 171

Fraud Data social media Millennials 171

Abrigo

MAY 20, 2022

Fraud on Alert for 2022 A review of SAR data , government agenc y releases, a nd fraud findings found these f raud c oncerns and trends to wat ch in 2022. Takeaway 1 An Abrigo review of SAR data, government agency releases, and fraud findings revealed fraud trends to watch for. Fraud Concerns.

Trends 195

Trends Fraud Training Survey 195

Abrigo

JUNE 28, 2023

Share these reports on AML activities to inform directors Reporting to the board on AML and fraud compliance is an essential obligation. Takeaway 3 Recommended reports on AML and fraud metrics for the board include those on high-risk customers and trends on types of fraud and suspicious activity seen.

Compliance 195

Compliance Fraud Report Trends 195

Abrigo

OCTOBER 28, 2021

Growing Cyber Fraud Concerns What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on cyber fraud. Takeaway 1 Cyber fraud increased during the pandemic, leaving financial institutions working harder to prevent and detect it. Preventing Cyber Fraud.

Video 195

Video Fraud Training Analysis 195

Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. Takeaway 3 Remember that ACH fraud risk also occurs in the placement stage of a fraudulent or money laundering scheme.

Fraud 221

Fraud Training System Trends 221

BankInovation

JUNE 12, 2023

Traditional financial services’ fraud detection is focused on — surprise, surprise — detecting fraudulent transactions. And there’s no question that generative AI has added a powerful weapon to the fraud detection arsenal.

Fraud 98

Fraud Data 98

Jack Henry

AUGUST 23, 2024

Did you know that data from the Federal Trade Commission shows consumers reported losing nearly $9 billion to fraud in 2022, up 30% over the previous year?

Fraud 158

Fraud Strategy Data Report 158

Abrigo

NOVEMBER 1, 2021

Combating Cyber-Enabled Fraud Requires Communication Increases in cybercrime or cyber-enabled fraud deserve attention from financial institutions, as Abrigo expert Terri Luttrell explains in this video. . You might also like this whitepaper, "The 2021 BSA/AML and Fraud Staff Survey: Top Issues for FinCrime Fighters".

Fraud 195

Fraud Video Training Compliance 195

PYMNTS

OCTOBER 14, 2020

Fast food behemoth McDonald’s began investing in artificial intelligence (AI) to give customers unique deals while also obtaining vital data about their ordering habits. Deep Dive: How QSRs Are Deploying Data Analytics and AI to Serve Customers, Fight Fraud. Developments From Around the Mobile Order-Ahead World .

Analytics 161

Analytics Fraud Data Mobile 161

South State Correspondent

SEPTEMBER 21, 2020

Chances are, even if you limited your Paycheck Protection Program (PPP) origination to just customers, you still have some fraud. If you took on new customers, you likely have between 5% and 10% fraud, even with a medium level of screening.

Fraud 397

Fraud Survey Data Groups 397

PYMNTS

NOVEMBER 6, 2020

Merchants are adapting quickly to a rapidly digitizing environment, caught between trying to build a smooth, seamless experience for their good customers and trying to prevent fraud of all sorts as attacks increase in both number and activity level. There’s no single lock-off point to which all fraud can be defended against.

Fraud 203

Fraud Data Security Customer Experience 203

Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Takeaway 2 A worsening economy increases pressure to commit fraud, provides opportunities to commit fraud, and can be used as an excuse by criminals to rationalize their actions.

Trends 195

Trends Fraud cryptocurrency Software 195

PYMNTS

DECEMBER 28, 2020

Nacha is issuing a warning to accounts payable professionals with regards to the rising threat of fraud. Further, Nacha said, the survey revealed AP professionals are facing increasing fraud attempts that target AP processes specifically. But accounts payable is far from the only back-office financial workflow at risk of fraud.

Fraud 291

Fraud Payments Survey Lending 291

Abrigo

NOVEMBER 3, 2021

FinCEN provides guidance on Cyber Fraud What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on FinCEN's AML/CTF priorities on cyber fraud. Takeaway 3 The FinCEN releases also focus on money mule schemes and imposter fraud, both increasing due to the pandemic. . Fraudsters.

Fraud 195

Fraud Video Training Bitcoin 195

Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? Instant payments service What is FedNow?

Fraud 195

Fraud Payments Security Resources 195

Abrigo

JULY 10, 2023

Stay up-to-date on AI fraud trends to protect your clientele Emerging AI fraud schemes reveal holes in financial institution's defenses. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. Here are several suggestions for tightening security.

Fraud 150

Fraud How To social media Security 150

Abrigo

MAY 12, 2022

Protect your financial institution from cybercrime With cybercrime constantly evolving, what can businesses and financial institutions do to prevent fraud? Cybercrime is a threat to businesses and institutions of all sizes and is at the forefront of the minds of those in the fraud prevention field. These measures can help.

Fraud 195

Fraud Training Software cryptocurrency 195

PYMNTS

MAY 19, 2020

Payments processing giant First Data Merchant Services and one of its executives will pay $40.3 First Data is paying $40 million because it repeatedly looked the other way while its payment processing services were being used to commit fraud,” Daniel Kaufman, deputy director of the FTC’s Bureau of Consumer Protection said in a statement.

Fraud 166

Fraud Data Cards Operations 166

PYMNTS

NOVEMBER 15, 2018

New data shows a projected 14 percent increase in fraud attempts during the upcoming 2018 holiday season — with fraud likely to peak on Thanksgiving Day. The data, from ACI Worldwide , is based on hundreds of millions of merchant transactions.

Fraud 166

Fraud Data Online Marketing 166

Abrigo

OCTOBER 10, 2023

Use the fraud triangle to prevent fraud at your institution The concept of the fraud triangle is frequently used in business, accounting, and criminology. Takeaway 1 The fraud triangle concept describes three factors that, when combined, incentivize a person to commit fraud. The FTC received fraud reports from 2.4

Fraud 195

Fraud How To Training Trends 195

BankInovation

JUNE 6, 2024

AMSTERDAM — Deutsche Bank is one of multiple financial institutions sharing anonymized data with financial messaging service provider Swift.

Fraud 74

Fraud Data Security 74

Payments Dive

AUGUST 2, 2019

While data shows that credit card fraud has decreased from the standpoint of payment volume, there remains a concern in the industry that cybercriminals are using sophisticated methods of changing tactics to avoid detection and put consumer payment information at risk.

Fraud 384

Fraud Payments Cards Industry 384

South State Correspondent

AUGUST 1, 2022

When it comes to future success in data management in banking, the same rules apply. Your strength is your data, and your success comes from defending your data and applying your data at various angles – to credit, fraud, marketing, and understanding both your employees and customers. Data Is Expensive.

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Data Tools Management Analytics 195

PYMNTS

NOVEMBER 3, 2020

A massive spike in fraud of all kinds has taken businesses by surprise and left them scrambling for solutions, Trulioo Chief Operating Officer Zac Cohen told Karen Webster in a recent conversation. Unfortunately, those firms are finding that they’re surrounded by fraud sharks eager to take a bite out of their business.

Fraud 301

Fraud Security Tools User Experience 301

PYMNTS

SEPTEMBER 3, 2020

Those new avenues of fraud have leveraged hallmarks of the current pandemic — fears over public health and concerns about stimulus checks issued by the government — to snare unwitting victims. . . According to some estimates, as many as 22 percent of Americans have been impacted by COVID-related fraud. . .

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Fraud Data Policies Operations 279