Lloyds Banking Group, Natwest Group, Bank of Scotland and others will use the artificial intelligence tool in preparation for new rules that will require them to compensate customers affected by "authorized push payment" scams.

This week in global news, Mizuho opens generative AI to staff, BBVA organizes to fight fraud and more.

Synthetic fraud — which combines real and false identifying information — has been a niche variety of identity theft for some time. But recent advancements in artificial intelligence and people's access to it might bring it into the mainstream in a big way.

One area of focus for the bank is using advanced artificial intelligence to detect business-email compromise. The payment messaging network Swift and online gambling host Caesars are also using AI to stop people from gaming their systems.

A new inspector general report suggests that grifts were more pervasive than has previously been reported. The Small Business Administration, which drew blame in the watchdog report, took issue with the findings.

About 90% of surveyed bankers said cybersecurity was their biggest worry, ahead of legacy tech and talent shortage issues.

Threat intelligence has become a viable option for banks looking to gain insights about fraudsters communicating on Telegram with other criminals.

A study from Surfshark found that crypto scams cost their victims about five times as much money as losses from other cybercrimes.

Ever since Silicon Valley and Signature banks collapsed in March, a scramble began among regulators, politicians, bank executives and others to manage the fallout from this spring's banking crisis. Here are 10 predictions of what still lies ahead to be dealt with.

Borrowers from certain nonbank lenders that have been identified as magnets for Paycheck Protection Program scams also committed check fraud at elevated rates, according to a new data analysis. Banks could use that kind of data from the pandemic-era government program to spot bad actors.

End-to-end automation remains a long-term goal as banks and insurers focus on point solutions, at least for now.

Fraudsters continue to impersonate owners of small and midsize businesses at a rate comparable to the early days of the pandemic. Many lenders can take simple steps to mitigate it.

Rep. Roger Williams, chairman of the House Small Business Committee, says Small Business Administration is considering allowing borrowers to self-certify eligibility for loans, a step some believe could lead to more fraud. The agency declined to say whether that is one of the changes it's considering.

Nexway, based in France, allegedly processed payments in its own name on behalf of a tech support scam and telemarketing company from 2016 to 2020.

Billions were lost to fraud during PPP. Now, prosecutors are increasing efforts to recoup taxpayer money, leaving lenders worried they could be put under the microscope next.

As customers rushed to withdraw their deposits from the bank and applied for accounts at other institutions, criminals took advantage of the chaos.

The founder of the defunct fintech that provided online college financial aid services was charged with fraud for inflating the company's customer base ahead of being acquired by JPMorgan.

The group behind the ongoing campaign allegedly has the support of a hosting provider that's complicit in helping spin-up new scam websites.