financial fraud

New Report: Authorized Fraud Scams Damaging to Bank-Customer Relationships
New Report: Authorized Fraud Scams Damaging to Bank-Customer Relationships
May 09, 2024  |  Fraud Prevention

Despite ongoing efforts to educate consumers on protecting themselves against financial crime, increasing authorized fraud and scam instances are nightmares for banks and their customers....

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US Treasury Warns of AI Dangers in the Financial Sector
US Treasury Warns of AI Dangers in the Financial Sector
March 27, 2024  |  artificial intelligence

The Treasury Department is sounding the alarm on cybersecurity risks posed by the growing use of artificial intelligence (AI) within the financial services sector.  A new...

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FTC Sees Jump in AI-Related Scams on Social Media
FTC Sees Jump in AI-Related Scams on Social Media
March 17, 2024  |  Security & Fraud

Federal regulators have reportedly recorded a jump in AI-related scam ads on social media. The Federal Trade Commission (FTC) has seen a sharp rise in complaints in...

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Jack Henry Debuts Defense Against Money Laundering
Jack Henry Debuts Defense Against Money Laundering
October 16, 2023  |  AML

FinTech company Jack Henry has introduced a new tool to help banks combat fraud. The firm’s Financial Crimes Defender, announced Monday (Oct. 16), is a cloud-native, real-time fraud...

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PYMNTS Intelligence: Why FinTechs Are Leaning Into AI to Fight Changing Fraud Threats
PYMNTS Intelligence: Why FinTechs Are Leaning Into AI to Fight Changing Fraud Threats
July 13, 2023  |  Fraud Prevention

As financial fraud evolves in the digital age, the picture that emerges is a complex one. On one hand, fraud in 2022 was at its...

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Threat of Deepfakes Drives Two-Thirds of FinTechs to Boost Fraud Budgets
Threat of Deepfakes Drives Two-Thirds of FinTechs to Boost Fraud Budgets
July 12, 2023  |  Fraud Prevention

For every new fraud scheme that pops up, dozens of FinTechs are responding to quash it. Yet despite their expertise in cutting-edge technology, FinTechs are...

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How Corporates Can Help Banks Fight Real-Time Payments Fraud
How Corporates Can Help Banks Fight Real-Time Payments Fraud
March 09, 2023  |  Security & Fraud

As instant payments become the norm, businesses can bolster safeguarding their hard-earned revenue.  While legacy habits such as paper checks persist, small businesses are catching up with...

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62% of Large Banks Report Increases in Financial Crime
62% of Large Banks Report Increases in Financial Crime
September 13, 2022  |  Security & Fraud

Fraud’s rise has touched the majority of businesses and financial institutions (FIs) — and many are struggling to find ways to address the increasing sophistication...

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New Details Emerge On Chinese Pharma’s $4.3B Fraud
New Details Emerge On Chinese Pharma’s $4.3B Fraud
May 30, 2019  |  B2B Payments

New details have surfaced about how a Chinese pharmaceutical conglomerate overstated its cash position by about $4.3 billion. Bloomberg reported on Wednesday (May 29) that...

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