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Fraud typologies all financial institutions should know

Abrigo

The technology used to perpetrate financial crimes may be changing, but these common fraud typologies aren't going anywhere. 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.

Fraud 221
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Meet Canadian Bank BMO’s Virtual Assistant BMO Bolt

Bank Innovation

EXCLUSIVE – Welcome BMO Bolt, Bank of Montreal’s virtual assistant on social media platform Facebook Messenger. The bot, announced today, was created in partnership with conversational banking technology company Finn.AI. This chatbot provides only unauthenticated information,Read More.

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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. Verify the person's identity and use online tools to cross-check information. Never share personally identifiable information with someone you've just met.

Fraud 221
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Crypto scams & crypto fraud detection for financial institutions

Abrigo

AI-generated phishing emails are grammatically flawless, and deepfake technology allows scammers to impersonate high-profile figures and even executives. Phishing scams: Phishing scams use emails with malicious links to gather personal details, such as users crypto wallet key information. The result?

Fraud 195
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Why AI Is Social Media Fraud’s New Best Friend

PYMNTS

It can be difficult these days to remember the almost idyllic promise of social media when it first entered the general consumer consciousness. That’s not to tempt one into nostalgia, or to suggest that social media has become marred beyond recognition. Digital Evolution. Fraud Increases. trillion in 2018.

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SME Execs Would Give Up Wine for Guaranteed Protection of Financial Information

Bank Innovation

In fact, it is so high on their priority list, that 28% said they would give up wine forever if that would guarantee protection of their financial information. Furthermore, 37% of respondents would shut down social media accounts, and 31% […].

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Top 5 Digital Trends for Insurance in 2025 – P&C, Life, Annuities, Reinsurance

Perficient

Carriers must innovate, adapt to these changes, and leverage new technologies to maintain a competitive edge. Recommended Approach : To buffer these external pressures, carriers and intermediaries must focus on operational efficiency, which can be accelerated through technology.

Trends 221