Browsing: fraud

The financial services industry is relying on outdated methods of detecting and fighting fraud. With the assistance of artificial intelligence, criminals are penetrating vulnerable systems. It’s…

Key insight: The lawsuit challenges BofA’s use of automated fraud filters and its decision not to issue EMV chip cards for the benefits, highlighting liability risks…

Sopa Images | Lightrocket | Getty ImagesWestern Alliance, one of the regional banks at the center of concerns over loans made to non-bank financial players, said…

What’s at stake: On average, U.S. businesses reported losing the equivalent of 9.8% of their revenue to fraud over the past year, a significant increase from…

Key insight: Identity theft victims who file extended fraud alerts often experience significant and persistent improvements in their credit profiles, becoming more creditworthy.What’s at stake: U.S.…

Key insight: Community banks may be able to benefit from the enormous buildup of AI capacity, as the cost of AI-based fraud detection falls.What’s at stake:…

In its Q3 Fraud Trends report, Equifax says mortgage fraud rates slipped about 10 basis points year over year to 0.19% of applications, reflecting a slowdown…

Key insight: The European Central Bank is building a centralized fraud detection system to support payment providers and secure every digital euro transaction.What’s at stake: Establishing…

Key insight: Criminals exploited the banking system’s “check float” period as a core part of the scheme.What’s at stake: The scheme compromised the personal and financial…

What’s at stake: American families face the prospect of losing their life savings to increasingly sophisticated criminal fraud networks.Forward look: Republicans seek whole-of-government coordination to combat…