Fraud continues to plague the payments system — and regulators are asking for answers. Banks, credit unions and payment networks responded to a joint Request for Information (RFI) from the Office of Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance...
Fraudsters, aided by advanced technologies, pose a pervasive and escalating threat to the financial system, financial services and risk experts told lawmakers on Capitol Hill Thursday (Sept. 18). A House Financial Services Committee oversight and investigations subcommittee hearing titled “Fraud in Focus: Exposing Financial Threats...
Financial institutions have long treated customer data as a proprietary asset, but a new PYMNTS report, “Fighting Fraud and Finding Trust Amid Banking’s Data Deluge,” suggests the bigger competitive advantage may come from knowing when to pool information. In a digital economy where fraud evolves by...
Entrust has integrated Mastercard Identity insights powered by Ekata into the Entrust Identity Verification Security Platform. This combination delivers intelligent pre-screening that identifies threats early to strengthen fraud prevention and automates remote onboarding for customers to streamline their onboarding experience, the companies said in a...
The SEC is upping its efforts to fight cross-border fraud targeting American investors. A new cross-border task force, announced by the Securities and Exchange Commission (SEC) Monday (Sept. 8), will initially focus on investigating possible securities law violations connected to overseas companies, including market manipulation...
The Financial Crimes Enforcement Network (FinCEN) issued guidance Friday (Sept. 5) that it said aims to encourage appropriate, voluntary cross-border sharing of information between and among financial institutions, including appropriate foreign ones. This information sharing can help financial institutions combat money laundering, terrorist financing and illicit finance...
Cloudflare said Tuesday (Sept. 2) that information shared in its customer support system should be considered compromised. The company issued this warning in a Tuesday blog post in which it disclosed that it was affected by a breach of Salesloft’s Drift that allowed someone outside Cloudflare to access...
England’s financial watchdog wants residents to be wary of fraudsters impersonating the agency. The Financial Conduct Authority (FCA) said Wednesday (Aug. 27) that it had received nearly 4,500 reports of “fake FCA scams” during the first half of 2025. While the number of reports of...
With the rise of agentic AI, identity verification is more important than ever. Distinguishing legitimate transactions from increasingly sophisticated fraud attempts places FinTech companies, with their digital-first infrastructure and seamless consumer experiences, at the vanguard of the ongoing battle against identity theft and financial deception....