As financial fraud becomes more and more sophisticated, banks need to get proactive about protecting their customers from scammers. This is particularly true of seniors, whose deposits are a key source of banks' core deposits.

As regulators and Congress push for stronger consumer protections as losses mount, payment experts say there are steps companies should be taking now to respond.

Depending on the data, Zelle can be seen either as a leading target for fraudsters and scammers, or better than average at stopping these criminals.

In a six-month pilot, NatWest and Metro Bank shared with Meta 185 URLs connected to scams, enabling the platform to take down 20,000 accounts.

The new real-time payments system is being optimized for speed, not necessarily security, requiring the banks participating in the program to exercise a heightened level of vigilance.

TD Bank must pay more than $20 million to resolve investigations over a former trader's alleged placement of "spoof" orders to manipulate the Treasuries market.

In September's roundup of top tech news: Banks and credit unions continue to shift away from banking as a service, Donald Trump announces planned launch of World Liberty Financial cryptocurrency firm and more.

In September's roundup of top banking news: Check fraud goes viral at JPMorgan Chase, Truist Financial resets its tangible common equity target, Wells Fargo faces new AML woes and more.

The suit was filed by three New Jersey residents who alleged that BofA froze their prepaid debit cards during a pandemic-era fraud wave, blocking them from accessing unemployment benefits.