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.

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Abrigo

JANUARY 14, 2021

How Institutions Can Avoid Fraud Surprises in the Next Round of the PPP BSA and fraud professionals saw a spike in PPP fraud during the first two rounds of funding. How can they be better prepared to prevent fraud in this next round? Stopping PPP Fraud in New Round of Funding. PPP Fraud Spikes.

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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.

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Fraud Training Compliance Trends 221

PYMNTS

JUNE 4, 2019

In the old days, forged checks were the biggest problems that bank fraud departments had to manage. Today, financial institutions (FIs) face a barrage of cyberattacks from hackers operating around the world, continuously shifting their tactics. Yet, few FIs leverage this technology in their anti-fraud efforts — only 5.5

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Fraud System Study Comparison 195

Abrigo

JANUARY 6, 2023

Check deposit fraud using “walkers” Financial institutions are seeing increased money mule scams using recruited "customers" to deposit stolen checks. Takeaway 1 Check fraud is not a new trend, but increased activity should put banks on high alert. Fraud scheme uses marginalized individuals as mules. Introduction. Seeking mules.

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Fraud Regulation Training Operations 195

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. DOWNLOAD . Takeaway 3 Stay one step ahead by updating your fraud mitigation processes to detect and prevent fraud schemes before they become hard dollar losses.

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PYMNTS

JANUARY 25, 2019

More than 3,200 GDPR breaches were logged within the first seven months after the regulation went into effect, which means the open data flow it supports may need to come with better fraud protections sooner rather than late. Read more by downloading the Tracker. PSD2 And The Future Of Travel Payments. About The Tracker.

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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.

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Abrigo

DECEMBER 28, 2022

Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog. The blogs your FinCrime peers are reading.

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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.

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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.

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Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

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Fraud Cards Software Trends 195

PYMNTS

OCTOBER 3, 2016

No one is immune from digital fraud. Even the arena of sports is becoming increasingly more digital as fans move away from coming to the box office to buy tickets and towards being able to just download an app and purchase tickets digitally. There’s always a fraudster waiting in the wings to spoil the party.

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Abrigo

MAY 24, 2024

Fraud detection and AML systems: Ensure these systems are integrated and operational at your institution to stay on top of financial crime. Each institution should tailor the FedNow implementation to meet its specific needs and operational requirements. Fraud prevention: Procedures to detect and prevent account opening fraud.

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How To Fraud Resources Georgia 243

PYMNTS

JANUARY 23, 2020

The January AML/KYC Tracker examines 5AMLD’s significance, as well as other efforts to thwart the fraud attempts challenging the financial sector. To find out more about these and all the latest headlines, download the Tracker. Worldpay On Modernizing Security To Foil eCommerce Fraud. Around The AML/KYC World. About The Tracker.

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Fraud Security Regulation cryptocurrency 157

PYMNTS

JUNE 27, 2017

The increased focus is a good thing — AML laws and Know Your Customer (KYC) requirements can help reduce crime, prevent terrorism and mitigate the risk of fraud. However, these requirements can also make operations more challenging for businesses. The fast-growing rates of fraud is another topic that sometimes keeps me up.

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Innovation System Mobile Trends 145

PYMNTS

MARCH 11, 2020

FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. To find out more about these and all the latest headlines, download the Tracker. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide. Download the Tracker to read the Feature Story.

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Fraud Payments Guidelines Regulation 150

PYMNTS

MAY 22, 2020

Studies have shown that more than half of all banks recover less than 25 percent of related losses, and FIs have reported a 59 percent growth in fraud value and a 61 percent increase in fraud volume since 2015. The ongoing pandemic has exacerbated all fraud types from all sources, Gould added. Multistage Fraud Defense.

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Fraud System Security Training 185

PYMNTS

OCTOBER 14, 2020

Consumers around the globe appear to support these integrations with a recent report finding that 71 percent of QSR customers are in favor of their favorite eateries incorporating AI into their business operations. Some players in the food service industry are tapping advanced technologies to improve and streamline their ordering operations.

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Analytics Fraud Data Mobile 161

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.

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Fraud How To social media Security 150

PYMNTS

AUGUST 7, 2020

A recent survey revealed that 93 percent of United Kingdom gaming compliance managers anticipate growing numbers of chargebacks and fraud as the pandemic prods consumers to access online services. Gaming platforms were facing increasing instances of fraud before the pandemic began. Fighting Back Against Gaming Fraud .

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Abrigo

SEPTEMBER 30, 2024

Streamline fraud and AML efforts Financial institutions that combine fraud and AML/CFT alerts into a single transaction monitoring system can strengthen defenses and improve efficiency. One critical shift is the integration of fraud and AML/CFT alerts through shared AML case management systems.

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Management Fraud Software Compliance 195

PYMNTS

JUNE 17, 2019

However, digital platforms face a major barrier in delivering these experiences: poor fraud detection. For digital platforms, fraud represents a two-headed beast. As largely online operations, they are tempting targets for fraudsters and hackers — therefore, robust anti-fraud systems are vital. About the Playbook.

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Fraud How To Payments Survey 117

PYMNTS

FEBRUARY 24, 2020

But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter. Many expansions like these, however, are halted by the encroaching possibility of fraud. For more on these and other mobile order-ahead news items, download the Tracker. Mobile Order-Ahead Developments.

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Data Fraud Mobile Florida 214

PYMNTS

OCTOBER 2, 2020

Credit and debit card fraud increased in April 2019 and April 2020, in fact, as fraudsters take advantage of the crisis for personal gain. This puts pressure on merchants to find ways to make their operations PCI compliant, and fast. The global tokenization market is even expected to reach $6.8 percent over the next seven years.

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PYMNTS

APRIL 26, 2017

While the fraud-fighting technology available six years ago didn’t stand a chance of protecting HiGear, the current car-sharing market , which is projected to be worth $16.5 billion by 2024, continues to experience similar fraud attacks. As machine learning has evolved over the years, so has the level and type of fraud.

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Fraud San Francisco Retail Branding 121

PYMNTS

JUNE 19, 2020

Merchants looking to expand their operations at home and abroad must be able to support their customers’ preferred payment methods, but doing so is no easy feat. Cybercrime has been growing during the pandemic, with instances of fraud on the rise and the average value of attempted fraudulent transactions having increased by $26.

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Payments Compliance Resources Fraud 188

PYMNTS

DECEMBER 9, 2020

The Playbook outlines six key operations that can be enhanced by applying AI systems, ranging from fraud detection to marketing optimization and even personalized chatbots. To learn more about how banks can build an effective AI adoption strategy, download the playbook.

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How To Management Report Strategy 245

Abrigo

FEBRUARY 14, 2024

It helps financial institutions avoid or at least plan for financial impacts tied to sudden staffing shifts. Identify crucial AML staff positions and processes What tasks are critical to daily operations? Stay up to date on AML/CFT and fraud trends. We can help you navigate changing AML/CFT and fraud regulations.

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Training Fraud Compliance Regulation 195

PYMNTS

FEBRUARY 14, 2019

In the latest edition of the “ AI Innovation Playbook: Perception Versus Reality in Payments and Banking Services ,” in collaboration with Brighterion , PYMNTS examines survey response data from more than 200 financial executives to learn how they are leveraging AI and ML to enhance their business operations.

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Fraud Study System Innovation 173

Abrigo

SEPTEMBER 3, 2021

Takeaway 2 Fraud prevention, AML, and IT must communicate regularly and cross-monitor for cybercrime threats. Takeaway 3 Fraud monitoring software and other preventative measures can help financial institutions protect themselves against cyber attacks. . Would you like others articles like this in your inbox?

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Training Software Fraud Security 195

PYMNTS

MARCH 6, 2020

Even more significantly, our research shows that FIs are using AI with greater focus than they have in the past, with two areas emerging as key applications: payments fraud and credit risk. percent of FIs that use AI consider reducing payments fraud its most important benefit. This represents a 69.7 percent of them. For example, 21.4

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Perficient

FEBRUARY 28, 2024

Better Pinpoint Your Risk(s): Predictive analytics to better target risks, artificial intelligence to identify fraud, and intelligent automation to improve operational efficiency are at the heart of insurance digital transformation moving forward. LEARN MORE: How Can Regional Insurance Carriers Harness the Power of AI?

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Innovation Regional Strategy Trends 251

PYMNTS

DECEMBER 28, 2020

The pandemic has cost more than 300,000 lives in the United States alone, and it has also challenged many institutions — such as credit unions (CUs) — that were never designed to operate on a primarily remote basis. To get the full story, download the Tracker. It also offers participating CUs customized consulting services.

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North Carolina Houston Fraud Innovation 197

Abrigo

SEPTEMBER 23, 2024

DOWNLOAD Takeaway 1 The National Public Data breach exposed over 2.7 Sensitive information The National Public Data breach's far-reaching consequences In early 2024, National Public Data, an online service specializing in background checks and fraud prevention, suffered a major data breach that exposed over 2.7

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Abrigo

JULY 9, 2024

Innovation Other critical components In addition to the above, the proposed rule introduces several vital components to enhance AML/CFT compliance: Encouragement of innovation : Automated transaction monitoring and fraud detection systems can significantly improve the detection and prevention of illicit activities. jurisdiction. Ensure U.S.

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PYMNTS

JANUARY 8, 2019

While the holiday retail rush meant big gains for some retailers, it also came with an influx of fraud, both in-store and online, as fraudsters took advantage of a high-pace, high-volume period of transactions. In fact, over 5 percent of online retail revenue is now lost to fraud. Around The Digital Fraud World.

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