Fraud
The Minneapolis bank disclosed the investigation four months after the Consumer Financial Protection Bureau reached a settlement with Bank of America over the distribution of unemployment insurance benefits on prepaid debit cards.
-
Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year's collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking.
October 20 -
An uptick in so-called operating losses helped drive up noninterest expenses excluding M&A costs at Truist Financial by 2% year over year, complicating its efforts to achieve positive operating leverage. The cost of reimbursing customers hurt by fraud seems to have been a contributing factor.
October 18
-
A criminal group called Prilex has stolen millions in a scheme involving fake repair people installing malware on point of sale terminals.
October 3 -
Financial institutions continue to push back against efforts to be held liable when a consumer is tricked into sending a payment that later turns out to be a scam.
September 26 -
Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.
September 1 -
A data breach in 2022 costs companies $4.35 million on average, an all-time high according to IBM research.
August 24 -
In the lead-up to a data breach, phishing is second only to use of stolen credentials in terms of how attackers infiltrate institutions. Here's what else you need to know.
August 3 -
Researchers recently described a scheme that allows affiliates to buy access to phishing materials. The case provides an insight into the methodical nature of some cybercrime.
August 2 -
New types of financial products designed for the underserved can also be susceptible to scamsters, Juniper Research found, mirroring the Federal Trade Commission's concerns.
July 21
