Fraud prevention

Existing law already provides the tools that would allow an across-the-board upgrade in digital identity verification, with benefits to banks and consumers alike. Regulators are the roadblock.

The U.K. bank's "Scam Intelligence" tool uses Google's Gemini to analyze images and texts for red flags, aiming to reduce losses from authorized push payment fraud.

During cybersecurity awareness month (October), financial institutions have ramped up education on phishing, fraud and cyber hygiene. Here's what they're saying.

Portugal's Feedzai will build the fraud detection system for Europe's planned digital currency, a deal worth up to $278 million.

The industry has developed materials for banks looking to promote anti-scam awareness and more resources for banks.

SMS-based multifactor authentication is now so badly compromised that it has become a major vector for fraud. But there's a potential solution, and it's in every bank customer's pocket.

The scams are becoming increasingly harder to detect, as fraudsters mimic authentic communications from banks.

Listen to Gasan Awad, SVP, Fraud Director, Enterprise Fraud Product Management at PNC Bank, Chris Briggs, Chief Product Officer at Mitek and Jay Leal, CIO at Vantage Bank.