Fraud detection

Payments CUSO said it converted a ‘record number’ of credit, debit accounts in 4 months.

The Texas bank, which partners with the U.S. Treasury to dispense federal benefits via prepaid cards, is alleged to have dropped the ball as hundreds of cardholders say their money was forwarded to fraudsters posing as them.

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

CO-OP Financial Services is currently pilot testing the new data-driven tool with credit unions in its shared branching network.

A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.

Several firms are touting tools to help financial institutions bank legal marijuana-related businesses, an industry expected to yield $10 billion in retail sales this year.

In an age of quick processing for digital payments, transaction disputes can still take weeks for a resolution or chargeback — an unacceptable time frame for e-commerce. To hasten dispute resolution, some vendors are beginning to offer financial incentives to merchants that agree to speed up the process.

What was unusual about CEO Kam Wong's alleged fraud wasn't that it happened but that it happened at such a large credit union.

The initiative was rolled out during CO-OP's annual THINK Confernece, taking place this week in Chandler, Ariz.

The FBI has reportedly interviewed employees at the bank’s wealth management unit.