Fraud detection

The bank’s “reasonably possible” legal charges could surpass its reserves by $3.3 billion as of June 30, a Wells securities filing says.

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

Recent NCUA prohibition orders have included restitution payments ranging from $14 million to $18 million, but it remains to be seen whether such stiff penalties will curb the incidence of fraud at CUs.

Family Savings CU helped police catch a suspect in a crime spree worth more than $43,000, but analysts say card skimming remains so pervasive that it may be nearly impossible to stop.

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

To battle the rise of new-account fraud, Dublin-based Experian has adopted a new tool from BioCatch, which uses behavioral biometric technology to spot fraudulent applicants.

With scammers steadily improving their techniques, CO-OP Financial Services is starting to offer artificial intelligence to police transactions initiated by online, mobile and other connected devices.

Mastercard has added another layer to its security for the evolving Internet of Things (IoT) with the acquisition of NuData, a Vancouver, Canada-based company whose technology analyzes biometric and behavioral patterns.

As online lenders and their vendors step up monitoring, patterns of fraud are emerging.

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.