Account takeovers and ATM skimming are rampant in cities like Las Vegas and New York. Meanwhile, scammers are targeting travelers as they attempt to pay airlines, cruise ships, car rental companies and hotels.

In many cases, stopping fraud in the moment is costly — and any transactions a bank flags incorrectly could alienate its best customers, a Bangor Savings Bank executive said at American Banker's Card Forum.

JPMorgan Chase settled a longstanding French criminal investigation over allegations it helped clients commit tax fraud for 25 million euros ($29.6 million).

For banks that want to replace usernames and passwords with more secure options, there's hope: Consumers are becoming more comfortable with biometrics, the technology is getting easier to use and regulators are starting to require it.

Banks talk a good game about thwarting fraud and protecting consumers and businesses, but the experiences of this author, a former bank regulator, illustrate how the quality of such efforts varies dramatically from one bank to the next.