Fraud detection

Nearly half of U.S. consumers say they have been hit by credit card fraud within the last five years, and those breaches are becoming more commonplace, according to a survey released Tuesday.

A centralized platform that validates loan and borrower data and tracks ownership of marketplace loans could prevent fraudulent activities and help investors regain confidence.

A vendor-created messaging network has attracted hundreds of community banks, many of which have decided it is easier to stop financial crime as a group.

Many financial criminals are switching to a more sophisticated kind of identity theft in which they open accounts based on stolen identities, or on composites of information stolen from different people.

Some days the ride-sharing app receives more than a million phishing emails — a stat to which large banks can relate. But after deploying common protocols and open-source software, Uber now rejects most bad emails.

The drumbeat of news about hackers stealing millions of dollars by gaming the Swift interbank messaging system should have been a wake-up call for banking executives, but it's unclear how many of them answered it. Is it too late for them to shore up their defenses?

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, introduced legislation Thursday to reform consumer credit reporting.

Huntington Bancshares is the latest institution to add a cybersecurity expert to its board, highlighting the growing importance of guarding against hackers and other online dangers.

The rub is that the global messaging system's security is only as strong as the weakest link.

While bitcoin is viewed as "secret currency," the technology behind the cryptocurrency is immensely useful to financial services companies in preventing hacking.