Fraud prevention

SEC Chairman Gary Gensler clarified Tuesday that a post on X from the official SEC account that the commission had approved bitcoin ETFs was the result of a hack. X said the SEC did not have multifactor authentication enabled on its account.

Banks and fintechs are coming together to help older customers with a variety of needs, from avoiding financial exploitation to planning for the future.

Charlie, a neobank marketed to people 62+, and Carefull, which partners with financial institutions, recently raised their Series A's. A third, called EverSafe, is embarking on its first fundraise.

JP Morgan Chase and Carver Federal Savings are applying fast-acting security tools more broadly — regardless of how fast the transaction is.

As financial institutions increasingly rely on artificial intelligence for anti-money-laundering and fraud detection, they face challenges in meeting regulators' demands for complete transparency and documentation.

Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.

Georgia United Credit Union is collaborating with the income-verification fintech Argyle to combat submissions of false documents and other crimes.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

Lloyds Banking Group, Natwest Group, Bank of Scotland and others will use the artificial intelligence tool in preparation for new rules that will require them to compensate customers affected by "authorized push payment" scams.