Wars in Ukraine and the Middle East. Fiercely polarized U.S. politics. Rapidly multiplying payments options on social media networks and elsewhere. Those factors and more are making it harder than ever for banks to combat illicit financial transactions.

Specialized large language models should be harnessed to help financial institutions identify and halt fraudulent activity. The best model would involve regulator-approved pooling of anonymized customer data.

The American Bankers Association and U.S. Postal Inspection Service have launched a public awareness campaign on ways to protect checks sent in the mail.

Companies lose an estimated 5% of their revenue each year due to fraud, according to a report from the Association of Certified Fraud Examiners.

The attack is one of three major incidents the lender has suffered in the past three years.

Banks must work closely with technology companies, regulatory authorities and each other to develop comprehensive strategies to combat deepfake fraud.

Later this month, a federal judge will hear arguments over whether an animal rights group may proceed with its lawsuit that says an industrial ag company violated state and federal animal-protection laws and as a result must repay its Paycheck Protection Program loan.

False transaction disputes and other individual-level financial fraud cost the industry billions. It's time to join forces and even the odds.