Fraud deadlines arguably don’t attract much attention outside compliance departments. This year’s changes to the Nacha Operating Rules reshape how banks are expected to identify suspicious ACH activity before losses accumulate. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Banks have spent decades building fraud systems that see one transaction at a time. A charge either looks suspicious or it doesn’t. Fraud rings built their business model around that gap, spreading activity across thousands of payments using stolen cards, mule accounts, shared devices and...
Financial crime compliance programs are a game of alerts. Or at least they used to be in the pre-AI era, when compliance teams operated on a linear equation in which more transactions generated more alerts, and more alerts required more analysts. Get the Full Story...
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Anthropic is preparing to ask some Claude users to verify their identity, a move that could require government-issued IDs and, in some cases, selfie checks, according to Monday (June 22) reporting from TechCrunch. Get the Full Story Complete the form to unlock this article and...
Rep. Young Kim has introduced a bill that would allow financial institutions to place extended holds on suspicious checks and wire transfers while investigating potential fraud. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
Flagright raised $12.5 million in a Series A funding round to increase the capabilities and adoption of its artificial intelligence operating system for financial crime compliance. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
Fraud prevention in B2B payments has long operated on a simple premise: if something went wrong, there would be time to fix it. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
Phishing texts that mimic a bank alert or a package delivery notice usually point to a fake website built to capture passwords and card numbers. Google says one criminal network used artificial intelligence to build those websites at a scale no human team could match....
