Fraud detection

Of all of the valuable consumer assets that fraudsters like to steal, loyalty or rewards points or cash is becoming a favorite.

Some fraudsters pose as loan applicants and submit doctored video or photos of property and assets to scam lenders they won't see in person. Firms like Elevate Funding and Credibly are fighting back.

Comerica Bank won another five-year contract from the Treasury Department to run the prepaid Direct Express card program despite criticism of how it handled past fraud cases and customer service blunders.

Granting a third party access to a bank's systems in exchange for more advanced technology can help prevent fraud, but it can also attract cyberattacks.

The current climate is akin to the Wild West, with little protection for the consumer, and new regulations are needed if the technology is to continue to expand in a safe and sustainable way, argues Mitek's Stephen Ritter.

PNC, Plaid and Venmo have been blamestorming over customer data-sharing issues of access, security and consent.

A shifting fraud landscape and changing consumer expectations will play a part in how credit unions allocate resources toward technology in the new year, according to a prediction from the CUSO Member Driven Technologies.

Yet that figure is relatively low compared with other digital assets such as bitcoin, according to the fintech Elliptic.

Doug Clare explains how the organization uses artificial intelligence to spot crime rings and skimmers.

Faster and real-time payments are finding more and more use cases, but the razor-thin transaction windows are alluring to fraudsters who want to make a swift getaway with stolen funds.