Fraud losses

U.S. counterfeit card losses have plummeted in the past four years, a signal the challenging EMV migration has made a dent.

Debit cards often lack the rewards and spending power of credit cards, and thus do not figure prominently in TV ads or direct mail flyers. Yet despite these limitations debit cards are beloved by millennials and anyone else who wants to avoid credit card debit.

This type of fraud could increase as criminals become more sophisticated and look for new ways to land a payday.

As strategic planning season kicks off, credit union boards and executives must consider whether they’re doing enough to prevent evolving cybersecurity issues, including account takeovers.

Banks and merchants absorb billions of dollars in payment card fraud annually, but it's not for a lack of tools designed to stifle that fraud. It's becoming increasingly apparent that those tools simply aren't being used to their fullest capabilities.

Less than a month after Municipal was placed into conservatorship, former CEO Kam Wong received a 66-month prison sentence along with an order to repay millions he embezzled from the credit union.

While Noah Bank’s CEO has been accused of self-dealing in connection with SBA loans, its chairman says the directors had a succession plan ready to go and are rallying to rescue the bank’s reputation.

While advanced push payment fraud has dominated the headlines in recent years, another type of scam has been costing U.K. businesses millions — even though many companies are completely unaware of it.

Edward Rostohar, who was CEO of CBS Employees Federal Credit Union, could face up to 15 years in prison following a $40 million scheme that brought down the institution.

More than half of all states don’t have an electronic system to track car titles and liens, which increases the potential for fraud and costs for lenders.