How Fraud and Financial Crime Affects Customer Trust in Banks: Insights from 4,000 Banking Customers.
The survey results revealed that many bank customers are unaware of the distinctions between various types of financial crimes and rely heavily on their banks for reimbursement. In many cases people are lulled into a...
In the latest weekly update, finance security expert Ari Redbord joins ISMG editors to discuss takeaways from the U.S. Treasury's 2023 DeFi Illicit Finance Risk Assessment, the state of blockchain analytics and where it is headed, and traction for FinCEN's Financial Action Task Force Travel Rule.
The Federal Reserve's FedNow Service will launch in July this year. Many banks, including community banks, will be able to leverage FedNow as an instant payment platform. How can these banks prepare for faster payments, and what security controls should they consider adding?
In this 14th edition, M-Trends provides an inside look at the evolving cyber threat landscape drawn from Mandiant incident response investigations and threat intelligence analysis of high-impact attacks and remediations around the globe across the last year.
This report also includes:
Latest Incident Response...
The days of manual processes are over. Now is the time to embrace automation or fall behind the entire payments industry.
Many software providers can help you transition to an automated solution, but it’s important to choose a provider that aligns with your company’s risk tolerance.
Download this e-Book to...
The U.S. Consumer Financial Protection Bureau is mulling over whether to reimburse consumers for online scams and fraud, but this regulatory change could lead to an increase in first-party fraud, cautioned Karen Boyer, senior vice president of financial crimes at M&T Bank.
Faster payment technology has been around for years, but fraud continues to dominate the conversation, says Reed Luhtanen of the U.S. Faster Payments Council. Luhtanen says all payment systems have a fraud problem, and firms will be able to curb faster payment fraud with more experience and data.
An Android banking Trojan is targeting Brazilian adopters of an instant payment platform known as Pix, marking another foray by the South American country's criminal underground into digital larceny. Brazil has been a hotbed of Trojan activity perpetuated by domestic cybercriminals.
With the current economic climate posing unique challenges, it's never been more critical for merchants to optimize payments to reduce costs, increase conversion and boost the bottom line. Yet, given the complexity of the payments ecosystem, coupled with the limited visibility many businesses have over their payment...
Forter bought a bot detection startup founded by a longtime Check Point Software leader to stop malicious actors from purchasing limited-edition items and collectables. The Immue purchase will prevent malicious bots from flooding e-commerce sites with thousands of transaction attempts per second.
Check fraud, first-party fraud and AI-related fraud will increase on a massive scale in 2023, thanks in large part to growing insider threats and the global economic slowdown. Frank McKenna, chief fraud strategist at Point Predictive, explains how banks can prepare to tackle these types of scams.
Authorized payment scams are on the rise, and banking regulators are putting pressure on financial institutions to do more to protect customers. The biggest challenge is that the customers are driving the process, says Bradley Haacke, vice president and financial crimes director at Fifth Third Bank.
The ongoing global logistics disruptions stemming from the COVID-19 pandemic continue to impact businesses and consumers as the flow of consumer goods.
Supply chain issues were a key challenge for many retailers throughout 2021 and these challenges are expected to persist in 2022. Now there is another challenge...
As regulatory oversight aimed at stopping financial fraud rises, friction generated by identity and credit checks built into customer onboarding processes is causing many consumers to abandon their shopping carts. Consumers expect simple, fast, convenient onboarding.
The situation is forcing business-to-consumer...
Both internal and external fraud are expected to grow as economic conditions worsen. Fraud education expert Andi McNeal shares insights on what anti-fraud practitioners are expecting over the next year, the types of fraud to watch out for and how to mitigate fraud risks.
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