The cost of fighting fraud at financial institutions is up nearly 10 percent from last year. That means credit unions face significant challenges in being ready for the next threat.

The company will record a quarterly charge after reporting potential fraud tied to commercial deposit accounts.

Sourcemedia's annual PayThink conference is always productive and informative, and this year's event was no exception.

FirstSense's technology is designed to spot and prevent fraud as it happens. It will operate with First Data's fraud protection and transaction authorization engine, helping financial institutions identify payment cards at risk.

Many companies no longer rely on static passwords alone, and use two-factor authentication to protect consumer accounts. The problem is they're using the same second factor: text messages sent to mobile devices.

This European regulation means fraud detection will inevitably need to evolve as the fraudsters find new ways to exploit new loopholes, according to Catherine Tong, vice president and general manager for Accertify.

A deaf woman who had over £8000 stolen from her bank account by fraudsters has become the latest symbol of the insecure practice of using phone numbers as proof of identity.

For businesses that serve a predominantly millennial audience, knowing the age group’s tolerance toward online security measures is an important lesson that coincides with customer retention, according to David Britton, vice president of industry solutions of global fraud and identity at Experian.

More than half of U.S. financial institutions have made same-day ACH funds available without seeing any major shifts in fraud. But observers warn that as same-day ACH introduces broader access and bigger transactions, it will become a bigger temptation for fraudsters.

With technology tightening defenses against account fraud, scammers increasingly turn to what they view as the weakest link: the human being at a call center.

The time is now for Congress to enact stricter data security standards that better protect credit unions and consumers.

There are several reasons, including the fact that many prospective borrowers are finding it harder to qualify for a mortgage and obscuring the truth as a result.

A former employee in the VyStar Credit Union mail room has been charged in a case involving mail fraud and millions of dollars in stolen stamps.

U.S. EMV coverage has gaping holes—including smaller financial institutions that haven’t fully converted to EMV and millions of merchant locations still not accepting chip cards.

Happy State Bank and others use rewards, rather than punishments, to encourage employees to stay vigilant and catch fraud and cybersecurity issues.

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Payments CUSO said it converted a ‘record number’ of credit, debit accounts in 4 months.

Institutions must enhance their fraud prevention strategy, and the most effective and successful way for doing so is by empowering customers to detect and respond to suspicious activity before the funds ever leave their account, writes Deborah Peace, CEO of ACH Alert.

Growing consumer expectations for 24/7 digital access and real time decisions as well as competitive pressures have reduced the time that organizations have for manual review, writes Mike Lynch, chief strategy officer at InAuth.

The Texas bank, which partners with the U.S. Treasury to dispense federal benefits via prepaid cards, is alleged to have dropped the ball as hundreds of cardholders say their money was forwarded to fraudsters posing as them.