Renat Abramov, a former relationship manager in Brooklyn, bypassed know-your-customer protocols to open accounts for shell companies involved in a $14.6 billion scheme.

Fraudsters and modestly dishonest employees can use generative AI to quickly create convincing fake utility bills, pay stubs, passports and other documents banks rely on.

Prosecutors allege Curtis Weston and a bank insider used fraudulent loans to fund stock market trades, leaving the bank with $20 million in losses.

Court documents reveal how a teller used the drive-through window and work email to aid a scheme that bypassed TD's fraud defenses.

Prosecutors argued the 23-year-old courier knew he was aiding criminals, citing texts about "gold rushing" and scammer videos on his phone.

TD Bank's Ruchira Ghosh, Northwest Bank's John Fick and Visa's Hector Rodriguez, with moderation by American Banker's Penny Crosman

The collapse of the illicit escrow marketplace disrupts a major hub for "pig butchering" scams, though experts warn the ecosystem will likely fragment.

A New Jersey courier scam highlights the severe liability risks consumers face when using debit cards compared to credit cards.

Defenses against financial schemes, both physical and digital, could leave executives scrambling to keep up with the pace of bad actors over the coming months.

Research from American Banker finds that bankers are still extremely worried about fraud, but hope that raising budgets for artificial intelligence could help.

The bank fired a manager for originating suspicious loans but later asked the SBA to forgive them, prosecutors say. The case ended in a $7.7 million settlement.

Stories about data breaches, fraud and one neobank were reader favorites this year.

Michigan State University Federal Credit Union avoided $2.57 million in fraud exposure through blocking AI deepfake fraud calls with Pindrop products.

Terron T. Brown used stolen mail and social media recruits to defraud banks such as PNC and Bank of America of millions, highlighting a rising industry threat.

Nine banks and lenders were impacted by the yearslong, $923 million fraud enterprise, according to an indictment of top Tricolor executives. The banks were not publicly named, but JPMorganChase, Fifth Third, Barclays, Louisiana-based Origin Bancorp and Texas-based Triumph Financial have said they would take write-downs.

Passkey technology offers a superior method of authenticating customer identification, both in terms of convenience and security. It's time for banks to finally make the transition.

New data shows a 21% jump in fraud attempts during Thanksgiving week, with automated bots and credential stuffing leading the charge.

Part of the growing "phishing-as-a-service" economy, the Spiderman kit offers novice hackers sophisticated tools to target customers of major EU institutions.

Mary Carole McDonnell allegedly posed as a McDonnell-Douglas heiress to secure loans. The FBI believes she is currently hiding in Dubai.