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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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What is elder financial exploitation? FinCEN guidance for financial institutions

Abrigo

Romance scams: These scams involve fraudsters building online relationships with elderly victims, often through social media or dating apps. Scammers initially build trust through online interactions, often via social media or dating platforms. Check fraud : Check fraud is of significant concern in the U.S.,

Fraud 195
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Revolutionizing the Way We Pay: The Top Payment Industry Trends You Need to Know in 2023

Perficient

Social Media as a Payment Channel Considering that the average American spends 147 minutes a day on social media , it is no surprise that businesses across industries seek the visibility that social media advertising and eCommerce can provide.

Industry 471
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New Facebook Shops Feature Streamlines Social Commerce

PYMNTS

To enable businesses to more easily list their merchandise on its social media platforms, Facebook has unveiled Facebook Shops. The social media company had allowed companies to list items on Instagram and Facebook in the past. It said its goal was to assist firms “in this new and unsettling environment.”

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Protecting customers from disaster fraud: What financial institutions need to know

Abrigo

In the aftermath of the devastating wildfires in California, scam artists exploited the situation by posing as legitimate charities soliciting relief donations through social media, emails, and phone calls. Financial institutions should also: Train frontline staff to recognize red flags and warn customers about emerging fraud trends.

Fraud 195
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Crypto scams & crypto fraud detection for financial institutions

Abrigo

Top 10 crypto scams Crypto scams to watch According to the FTC, the top ten crypto fraud trends to watch are: Investment scams: Investment scams come with "get rich quick" and "no risk" promises, often initiated through social media or online dating apps. Conduct regular staff training to recognize red flags and respond quickly.

Fraud 195
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Regulators Eyeing Social Media In Europe

PYMNTS

Against the backdrop of social media controversy — remember Facebook , of course, and 87 million users’ data exposed to Cambridge Analytica — oversight is tightening in Europe.