bank fraud

Global Crime Rings Exploit Meta Platforms, Triggering Bank-Fraud Spike
Global Crime Rings Exploit Meta Platforms, Triggering Bank-Fraud Spike
May 16, 2025  |  Fraud Attack

Criminals are “flooding” Facebook and Instagram with bogus ads and marketplace listings, fueling what The Wall Street Journal calls an “epidemic of scams” that is...

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Congress Urged to Reform AML Rules, Repeal Corporate Transparency Act Amid Rising Fraud Costs
Congress Urged to Reform AML Rules, Repeal Corporate Transparency Act Amid Rising Fraud Costs
April 01, 2025  |  Fraud Prevention

Witnesses from the ranks of business and banking told lawmakers that efforts to fight payment and investment scams must be aided by a “whole government”...

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Faster Payments Get Faster Fraud Defense
Faster Payments Get Faster Fraud Defense
March 12, 2025  |  Fraud Prevention

Faster payments means faster fraud, at least that’s the fear. FedNow® Service’s debut a year and a half ago, and traction gaining across The Clearing...

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AWS and Mastercard Lead Industry Coalition to Fight Economic Crime
AWS and Mastercard Lead Industry Coalition to Fight Economic Crime
September 02, 2024  |  Fraud Prevention

The Centre for Finance, Innovation and Technology (CFIT) has formed an anti-financial crime group. The U.K.-based group announced the effort Monday (Sept. 2), noting it...

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Seven in 10 Financial Institutions Use AI and ML to Combat Fraud
Seven in 10 Financial Institutions Use AI and ML to Combat Fraud
March 26, 2024  |  Security & Fraud

Recently, PYMNTS sat down with an array of experts and innovators in the artificial intelligence (AI) field to get their thoughts on how the technology...

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EU Bank Watchdog Warns Lenders of Once ‘Inconceivable’ Risks
EU Bank Watchdog Warns Lenders of Once ‘Inconceivable’ Risks
February 12, 2024  |  Banking

Europe’s new top bank regulator wants lenders to beef up plans for dealing emerging risks. “Many of the issues dominating today’s headlines were inconceivable a decade ago,”...

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Fraud Concerns Leave Consumers Skeptical of Payment Data Aggregation Apps
Fraud Concerns Leave Consumers Skeptical of Payment Data Aggregation Apps
January 24, 2024  |  Security & Fraud

Payment fraud incidents have been on the rise, increasing 88% since December 2021, PYMNTS Intelligence research reveals. For instance, 11% of consumers who paid for groceries...

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Good vs. Bad: Fraud Losses at FIs Up 65% as Both Sides Turn to AI
Good vs. Bad: Fraud Losses at FIs Up 65% as Both Sides Turn to AI
December 14, 2023  |  Digital-First Banking

Fraud and financial crime remain challenging for financial institutions (FIs), even as fraud rates have remained high for many of them in 2023 relative to...

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Report: Regulators Issue Formal Orders to Wells Fargo to Enhance Monitoring
Report: Regulators Issue Formal Orders to Wells Fargo to Enhance Monitoring
November 16, 2023  |  Bank Regulation

Wells Fargo is reportedly grappling with regulatory obligations to enhance its monitoring of financial crime. Regulators have issued formal orders to Wells Fargo, instructing the bank...

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