Fraud detection

As U.S. banks move toward faster payments, they should heed the lessons U.K. banks learned about criminals after launching their real-time transaction system, says Varo Money's fraud strategy leader.

With fraud rising alongside mobile deposit usage, credit union executives needed a way to solve the problem without making the process burdensome to employees and members.

Examiners could have done more to minimize the brunt to the Deposit Insurance Fund from Washington Federal Bank for Savings, which hid fraudulent loans and will cost the fund more than $80 million, according to a report from the Treasury’s inspector general.

For bankers and network providers, it’s a given that moving to a real-time payment system like Zelle will lead to an increase in fraud attempts. Here's a look at the ways they're fighting back.

The company will record a quarterly charge after reporting potential fraud tied to commercial deposit accounts.

Happy State Bank and others use rewards, rather than punishments, to encourage employees to stay vigilant and catch fraud and cybersecurity issues.

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.