First-party fraud — customers claiming they never made a transaction when they know full well they did — is a growing problem for banks. An emerging host of vendors including Socure are offering machine learning models that detect this.

Complaints to the Consumer Financial Protection Bureau have skyrocketed in the first half of 2025, due in part to an increase in payment scams generated by social media that target peer-to-peer payment platforms such as Zelle, Venmo and other apps.

American Banker's Frictionless Fraud report finds not all institutions are well assured their customer verification tools can keep up with new schemes.

Sam Altman, the founder and CEO of OpenAI, said the rapidly growing capabilities of AI are rendering many of banks' fraud prevention measures useless and warned of an "impending fraud crisis" if banks don't update their processes.

Texting a password recovery link to a customer presents the risk of someone else taking over the account. Researchers found this happens somewhat frequently.

To reverse the trend in payments fraud, regulators and the private sector must work together to expand how we define verification. It must be a dynamic, intelligence-driven process embedded at every point of the payment journey.

New research from American Banker finds that card and check fraud has gotten more problematic for bankers over time.

Government officials confirmed the California Democrat is under scrutiny over a long-held Maryland property he designated as a second home in 2020.