SEC Chairman Gary Gensler clarified Tuesday that a post on X from the official SEC account that the commission had approved bitcoin ETFs was the result of a hack. X said the SEC did not have multifactor authentication enabled on its account.

The Alabama-based bank, which reported $135 million in check fraud losses during a six-month period, says that it had changed the period of time it holds a deposit in an effort to become more customer-friendly. "We opened the door too wide, bad people came rushing in, and we didn't close the door timely enough," said CFO David Turner.

A federal judge has issued a temporary restraining order against websites created by Storm-1152. That organization allegedly supplies fake Microsoft accounts to groups like Scattered Spider, whose targets include financial companies.

An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.

Banks and fintechs are coming together to help older customers with a variety of needs, from avoiding financial exploitation to planning for the future.

Commonwealth Bank of Australia has developed an advanced artificial intelligence tool that can spot harassment in transaction messages.

An email security company has found a 12-fold increase in the number of phishing emails it has seen since the advent of ChatGPT, and malicious models may be to blame.

While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.

The platform will allow banks to share the names and account information of suspected scammers almost in real time. The American Bankers Association is set to test the system with a group of 20 pilot banks early next year.

Michael Lewis takes a more sympathetic approach than many other observers to the former CEO of the crypto exchange FTX in his latest book, "Going Infinite."

In our ongoing battle against financial fraud, we need a holistic overhaul of the regulatory landscape to safeguard the financial industry and its stakeholders effectively.

Charlie, a neobank marketed to people 62+, and Carefull, which partners with financial institutions, recently raised their Series A's. A third, called EverSafe, is embarking on its first fundraise.

JP Morgan Chase and Carver Federal Savings are applying fast-acting security tools more broadly — regardless of how fast the transaction is.

As financial institutions increasingly rely on artificial intelligence for anti-money-laundering and fraud detection, they face challenges in meeting regulators' demands for complete transparency and documentation.

The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic.

The New York State Department of Financial Services and the Federal Reserve Board penalized Metropolitan Commercial Bank for failing to prevent $300 million in fraud in a prepaid card program. It is the latest example of a bank being sanctioned in connection with rampant fraud during the COVID-19 pandemic.

Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.

As false credit-card disputes spike, the networks have updated policies to provide merchants and issuers with more data to combat false chargebacks.

Two months after the mysterious failure of the Heartland Tri-State Bank in Elkhart, Kansas, a news article sheds light on its downfall. CEO Shan Hanes was involved in a cryptocurrency hoax involving a $12 million wire payment, according to the Bloomberg Businessweek report.