Anthony Gressak III, who also served as interim CEO of Nano Banc, allegedly obtained pandemic relief funds fraudulently.

As long as fraud-prevention efforts remain siloed and bank-specific, perpetrators remain free to employ the same strategies over and over. Banks need to do a better job of sharing information and collaborating.

Daria Sewell pleaded not guilty to possessing customers' personally identifiable information. The case adds to the Canadian bank's anti-money-laundering woes.

This month's roundup includes items on TD Bank Group's asset cap and $3 billion in money-laundering fines, the Consumer Financial Protection Bureau's final rule on open banking and more.

The supposed glitch was simply check fraud. The bank is suing four people who allegedly took as much as $290,000 from the bank as part of the scheme.

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.

While it can be difficult to recover the funds victims lose to the scams, the U.S. has created a legal safe harbor that banks can use to share intel to prevent fraud.

A hearing included discussion of European laws that will put banks on the hook for fraud schemes, and whether the U.S. needs a digital identity standard.

Nothing less than a whole-of-government approach, in concert with the financial services industry, will be enough to address the spiraling cost of fraud to both businesses and consumers.