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Fraud typologies all financial institutions should know

Abrigo

Variations include: Pig butchering scams Scammers build relationships with victims through social media or dating apps, persuading them to invest in cryptocurrency or other financial opportunities. These scams often take place on dating apps and social media. Start or enhance a customer fraud prevention plan.

Fraud 221
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Love and lies: How financial institutions can help prevent confidence scams

Abrigo

Fraudsters create fake profiles on dating apps and social media platforms, using stolen images and fabricated stories to build relationships with their targets. Scammers can use details shared on dating sites and social media platforms to better target victims.

Fraud 221
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Big Tech Increasingly In Regulators’ Spotlight — And Crosshairs

PYMNTS

More regulations are in the offing, as reported in ZDNet , which in an overview noted that the call by companies such as Google and Facebook last year for a national data privacy law was seconded, in a way, by the U.S. Government Accountability Office, which offered a similar embrace in February of this year. Privacy and Competition.

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The cyber security threat landscape in financial services

Insights on Business

McKee told the audience of 70 financial services executives that, “From a macro, geopolitical stand point, if a nation state were able to disrupt through a cyberattack another nation’s infrastructure, we are wholly dependent on energy to run financial services.” It takes a long time to produce a proper exercise.

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Red Envelopes, Fortnite And The Rise Of Micro Money Laundering

PYMNTS

The country’s holiday tradition of people giving red envelopes stuffed with cash has — as befits a nation where consumers have embraced mobile payments and commerce more than just about anywhere else — turned digital. A demonstration of that truth came around again recently with the observance of the Chinese New Year in early February.

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The Current Banking Crisis – 10 Not So Apparent Lessons

South State Correspondent

Some form of this ratio will likely be applied to the national and regional banks, which means larger community banks will also be judged by this ratio. 8) Deposit Impact of Social Media: SVB’s customer base and followers were highly active on Twitter and other social media properties.

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Growth Loops – The New Way To Grow Bank Product Sales

South State Correspondent

Here is a fun exercise – Ask a bank product team, “How do you grow customers?” For example, instead of creating a more appealing lending product and targeting a niche customer segment for a high return on investment growth number, marketing takes an existing product and tries to amplify it with email, digital or social media marketing.