Abrigo

SEPTEMBER 20, 2023

How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Takeaway 3 Prevention and detection best practices can curb hard dollar 1st-party fraud losses while protecting clients.

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Abrigo

FEBRUARY 28, 2023

You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." REGISTER now Takeaway 1 Phishing is not a new fraud trend, but the rise of smartphones means text messaging fraud is becoming more common. billion to fraud in 2021, a 70% increase over the prior year.

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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?

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Fraud Payments Security Resources 195

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

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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. Starting Point.

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Abrigo

AUGUST 19, 2024

Takeaway 3 BSA compliance officers should present clear requests to their boards, outlining their needs and providing examples of the penalties that they face if they do not meet the FFIEC standard. Rubin highlighted that the day-to-day management of the BSA department is a responsibility that falls squarely on the compliance officer.

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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 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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PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. One recent example of a response to the proliferation was the inclusion of a long-fought anti-money laundering (AML) provision within the recently passed defense spending bill in the U.S.

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PYMNTS

AUGUST 11, 2020

Idaho-based Kount has released a new product aimed at preventing insurance fraud as the industry increasingly turns to digital, and even mobile, setups. Kount’s products help “insurance companies identify visitors, manage leads, and determine who is shopping for a quote.”. In a Tuesday (Aug.

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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

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. Check Fraud. Still the number one type of fraud in banking. There is also usually more than one signee assigned to those accounts, making them more susceptible to fraud.

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PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

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PYMNTS

OCTOBER 30, 2020

Here, Machicao explains how his firm helped clients protect themselves from escalating fraud risks with the COVID-triggered wave of CNP payments. The payment and fraud landscape is almost unrecognizable today compared to just a few short months ago. The following is an excerpt from What Did You Change?

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PYMNTS

JULY 15, 2020

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. . .

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Fraud Course Online Data 250

Abrigo

OCTOBER 14, 2022

Fortify your credit risk management framework How to prepare your organization for scrutiny of its credit risk management practices during your next exam or review. . You might also like this whitepaper, "Stress Testing: Managing Capital Levels and Credit Risk." For example, what is considered an impairment or charge-off?

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SWBC's LenderHub

AUGUST 18, 2022

As of March 18, 2022, Nacha’s account validation rule requires ACH originators of WEB entries to use a commercially reasonable fraud detection system to verify the first time a consumer checking account is used for an electronic (ACH) payment, if the payment is initiated over an online channel, the account number must be validated first.

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Risk Management Fraud Management Examples 78

PYMNTS

NOVEMBER 10, 2020

PSCU , which is billed as the nation's premier credit union service organization (CUSO), has announced its new Enhanced Fraud Services system, which the company said “has helped 10 early adopter credit unions combat fraud of all types, ranging from first-party chargeback fraud to identifying card information being sold on the dark web.”.

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FICO

JUNE 23, 2023

Home Blog Feed test Is Hyper-Personalization a Game Changer for Fraud Management? The areas of focus are originations and customer management. But fraud must be a consideration here too. Done right, a hyper-personalized experience is the key to some major challenges faced by fraud departments today.

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Fraud Management Customer Experience Strategy 52

PYMNTS

SEPTEMBER 28, 2020

COVID-19 is an ideal example, as cold-hearted fraudsters are siphoning off funds designated for legitimate people and businesses. PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls.

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Fraud United States Examples Customer Experience 202

PYMNTS

DECEMBER 7, 2020

Indeed, the last week has seen the emergence of even more examples coming to light. But the BEC scam is not the only kind of business payments fraud plaguing firms today. This week's B2B Digest looks at how corporate finance scams come in all shapes and sizes, from employee expense fraud to invoice falsification.

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PYMNTS

SEPTEMBER 15, 2020

Such immense effort is expended fighting determined fraudsters that it’s easy to minimize friendly fraud — a frustrating state of affairs that leaves financial institutions (FIs) and merchants on the hook for purchases disowned, justly or otherwise, by legitimate cardholders. Spotting The Fakers.

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Fraud Tools Retail Analytics 156

FICO

MARCH 25, 2022

While it may seem like an esoteric topic, explainability in fraud management is important – and it’s especially relevant when it comes to using AI and machine learning in fraud detection and prevention. In other words, a fraud management system isn’t a black box. Proprietary or shared fraud detection models?

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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. For example, will it be used for instant payroll payments but not for account-to-account transfers? Fraud prevention: Procedures to detect and prevent account opening fraud.

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How To Fraud Resources Georgia 243

PYMNTS

OCTOBER 21, 2020

This year has been even worse on the fraud front,” we learn from the new PYMNTS Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , “as financial crime stresses FIs that are already confronting the pandemic, economic struggles and an unpredictable political climate. Real-Time, Cross-Channel Fraud Controls.

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Fraud Security Mobile Tools 140

PYMNTS

APRIL 27, 2020

As the digital shift continues to keep pace with post-coronavirus shopping behaviors, eCommerce fraud is growing with it. In fact, 22 percent of respondents in a recent TransUnion survey claimed they had “been targeted by digital fraud related to COVID-19.” It is a low-cost security check for website managers as well as consumers.”.

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Fraud Company Security Comparison 164

PYMNTS

NOVEMBER 1, 2020

Corporate travel and expense management solution provider Serko has launched its Zeno Expense tool in North America, giving customers a new option for B2B travel management, a press release on the company website stated, alongside the company's Zeno Travel tool that was already available.

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PYMNTS

FEBRUARY 20, 2020

A recent academic study found that company CFOs are less likely to admit to fraud when they’re facing pressure to meet certain financial goals, according to Forbes. It asked 204 financial managers about what they would do if they uncovered financial impropriety by an employee.

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PYMNTS

OCTOBER 19, 2020

Meeting this fraud threat will require in-depth knowledge of fraudsters’ techniques and advanced technology and customer vigilance, according to Jamie Armistead , vice president and business line leader for banking app Zelle. “We We split out scams and frauds,” he explained in a recent interview with PYMNTS.

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PYMNTS

SEPTEMBER 24, 2020

In a Masterclass interview with PYMNTS, Tom Donlea , vice president and general manager, APAC at global identity verification provider Ekata , said Asia offers greenfield opportunities — and some areas of risk — for merchants looking to offer digital wallets. Every recession leads to an increase in fraud ,” he said. The Challenges .

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Mobile Management Fraud Training 245

PYMNTS

DECEMBER 9, 2020

Managing credit risk used to be a reactive process. Bank customers would fall behind on their payments, and their banks might react by imposing fees or having a case manager work with them to bring their accounts back up to speed. In severe cases, banks might have to take the drastic measure of closing accounts altogether.

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PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

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Fraud Mobile social media Customer Experience 177

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. Ongoing changes help.

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Fraud Lending Taxes Regulation 195

PYMNTS

SEPTEMBER 2, 2020

Growth equity firm TCV has acquired spend management tech firm Oversight , according to a press release emailed to PYMNTS, and will help Oversight expand its product innovation for enterprise risk management solutions. Oversight CEO Terrence McCrossan said the acquisition by TCV would be a boon for his company.

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Management Risk Management Fraud Innovation 151

PYMNTS

SEPTEMBER 24, 2020

The ongoing COVID-19 pandemic and its associated social distancing and stay-at-home orders have pushed untold services online for easier consumer access, with banking serving as a prime example. Fraud Threats To Digital Banking. Identity fraud accounted for $16.9 Leveraging Video-based Onboarding, AI To Prevent Identity Fraud.

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Abrigo

MARCH 21, 2023

You might also like this video on managing interest rate risk. Takeaway 3 Diving deeper into depositor pricing and evaluating loan pricing to ensure compensation for the risk are among strategies to manage interest rate risk. Stay up to date with Abrigo advisors' ideas for managing interest rate risk.

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PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch . A PYMNTS study on U.S.

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