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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.

Fraud 221
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Should Banks Be on Social Media?

NCR

The promise of genuine engagement with customers through social media is drawing the attention of traditional businesses, like banks. However, their use of social media platforms has grown in recent years to include memes, unique content, and customer service elements. How Banks Should Operate on Social Media.

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Fraud prevention and detection: Empowering clients through education

Abrigo

Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. Clients should also be wary of social media scams. billion was lost to fraud through social media between January 2021 and June 2023.

Fraud 195
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Paid social media’s place in your marketing strategy

Independent Banker

As social media platforms tinker with their algorithms, marketing experts say one trend is clear: Paid social campaigns are becoming increasingly necessary to cut through the noise and reach customers. Social media has made it easier for community banks to nurture connections with prospects, customers and the community.

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Listen Up: Best PYMNTS Podcasts Of 2018

PYMNTS

No, think of them as miniature seminars. Enjoy these little seminars about the world of payments and commerce, and review at your leisure. A good education on this online retail trend — an education backed by original data — comes from Azita Habibi, business development lead at Braintree , a payments services firm owned by PayPal.

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The true cost of fraud

Abrigo

Social media scams account for the highest losses and are higher than any other fraud typology , at a reported half-billion total loss. This , of course , doesn’t include fraud losses that were not filed due to the victim's embarrassment or lack of knowledge on how to report.

Fraud 195
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Traditional Banks v. Alternative Lenders: How Goliath Can Beat David

Banking 2020

In today’s fast-paced life, this means engaging with them through social media, as well as hosting educational events. For instance, they could offer light advisory services or seminars to business owners who have working capital lines of credit. Now is the time to change that perception.