Fraud detection

Stuart Scott was apprehended at the request of the American government as part of a probe into foreign-exchange-trading practices.

After a bogus-accounts scandal spooked new clients and crimped profitability, Wells Fargo may eliminate more branches and dismiss staff.

Retail-focused Provident Bank has added an on/off switch that allows customers to suspend their debit cards. A few big banks rolled out similar features last year.

Professor Rahul Telang at Carnegie Mellon University's Heinz College analyzed the behavior of 500,000 bank customers over five years to observe their reactions to adverse events such as fraud on their bank account. It’s a rare objective measure of the effect of fraud on customer retention.

Wells Fargo has fired its consumer credit solutions head and three other senior managers for actions related to a scandal involving employees creating fraudulent customer accounts.

Banks are grappling with new challenges in trying to work with voice assistants like Alexa in Amazon's Echo to allow customers to check balances and perform other tasks. But with voice banking on the horizon, banks cannot afford to stall their efforts.

The time banks have to investigate red-flagged credit payments has shrunk from several days to a few hours and fraudsters have already taken notice.