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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
By Carter PapeApril 24 -
Banks reported nearly $27 billion had been tied up in scams or theft against elderly people in a recent 12-month period, according to a report from the U.S. Treasury.
By Carter PapeApril 22 -
In an ongoing case, Citi and the New York attorney general are disputing who is responsible for wire transfer fraud that drained a customer's retirement savings.
By Carter PapeApril 15 -
A new report sheds light on the lack of player protections against scams and exploitive data collection practices of video game companies.
By Carter PapeApril 8 -
TD moved its automated trading service to the cloud, in the hopes of new levels of efficiency and computational power.
By Carter PapeApril 3 -
Despite advancements in AI for transaction monitoring, financial institutions share little in the way of fraud data, undermining efforts to combat crimes including check fraud.
By Carter PapeApril 2 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
By Carter PapeMarch 27 -
Preliminary rulings by a Pennsylvania judge will allow a jewelry company that claimed it lost $1.1 million to fraud to move forward with suing individual bank employees.
By Carter PapeMarch 26 -
A recent survey showed a majority of banks use generative AI, mainly for tasks like writing emails and detecting fraud, but few say they have built customer-facing products with it.
By Carter PapeMarch 21 -
In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.
By Carter PapeMarch 20