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How to prevent internal fraud at your bank or credit union

Abrigo

How to prevent internal fraud at your bank or credit union Of the many fraud risks banks and credit unions face, one of the most costly comes from within the institution itself. ACFE reported that 5% of an organizations revenue is lost to internal fraud each year, with an estimated $3.1 billion in total losses.

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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.

Fraud 221
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Fraud and AML integration: Is the FRAML approach right for your financial institution?

Abrigo

Evaluating the FRAML approach For years, financial institutions have debated the merits of combining fraud and anti-money laundering (AML) functions into a single department in what's known as a FRAML approach. With such heightened scrutiny on fraud, keeping AML and fraud teams siloed may not be sustainable.

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Investment accounting compliance: How technology helps

Abrigo

Meeting investment accounting and reporting requirements The right technology tools can help institutions manage investment accounting compliance and risk exposure across various investment types. Compliance with investment accounting and reporting requirements plays a central role in ensuring operational efficiency and regulatory adherence.

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How AI helps prevent fraud and false positives—without replacing compliance professionals

Abrigo

Artificial intelligence (AI) is transforming fraud prevention AI offers financial institutions a way to reduce false positives, detect fraud faster, and improve suspicious activity monitoring. Staying on top of fraud is a full-time job. Let our Advisory Services team help when you need it.

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Unveiling the Future: 5 Key Trends Shaping Financial Services in 2025

Perficient

The financial services sector is experiencing transformative changes driven by technological advancements and innovative trends. We are witnessing the integration of AI, the rise of hyper-personalization, and the adoption of advanced digital platforms, all of which are revolutionizing operations and client interactions.

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What is a payment system?

Abrigo

Payment system types, trends, and fraud risks Understanding how payment systems function, the different types in use, and the associated risks is critical for financial institutions to be able to balance innovation with security. Need short-term fraud or AML staffing relief? Key topics covered in this post: What is a payment system?

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