Fraud detection

Neural network systems — which try to emulate the human brain — will become increasingly important as the stolen identities from the recent Equifax breach and others start surfacing in the coming years on fraudulent payment card or loan applications.

Mastercard is unveiling an anti-fraud tool that’s been in development for more than three years, bringing a new way to pinpoint cards and accounts at the highest risk of fraud following data breaches.

A woman who formerly worked for a Southern California credit union and her "online boyfriend" have been indicted by a federal grand jury of defrauding multiple banks to the tune of $2.6 million.

Regulators and consumer activists are examining the relationships among banks, insurance companies and auto-loan borrowers following the new revelations about Wells Fargo and insurers' rising premium income.

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.

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.

Professor Rahul Telang at Carnegie Mellon University's Heinz College analyzed the behavior of 500,000 bank customers over five years to observe their reactions to adverse events such as fraud on their bank account. It’s a rare objective measure of the effect of fraud on customer retention.

Wells Fargo has fired its consumer credit solutions head and three other senior managers for actions related to a scandal involving employees creating fraudulent customer accounts.

Fraudsters, aware of the scope of the Payment Card Industry data security standards, increasingly deploy fraud methods that fall outside of PCI safety.

Artificial intelligence is moving from science fiction to practical reality fast, and it's in banks' best interest to gear up now for the changes ahead. Here are some strategies to consider.

The jobs of chief investment officer departments and financial advisers are likely to change as banks and stand-alone wealth managers adopt artificial intelligence to inform the advice they give clients.