Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes.

Here's what industry experts have to say about a risk that a housing regulator has spotlighted through referrals that have led to high-level allegations.

The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.

Markel O'Neal Calhoun, a former Regions Bank employee, has been barred from ever working in the industry again after embezzling $17,981, according to the Federal Reserve.

The pandemic-era program yielded over $60 billion in fraudulent payments, with prosecutions expected for another five years.

The scams are becoming increasingly harder to detect, as fraudsters mimic authentic communications from banks.

The plea marks the beginning of the end of the case over the $50 billion collapse in May 2022 of stablecoin TerraUSD.

Theft of paper checks and their use in identity theft constitute a major blind spot in the private sector's fraud detection networks. Banks and regulators need to come together to find solutions.

Federal Trade Commission data shows scam losses for adults 60+ have skyrocketed, with banks under pressure to strengthen protections.

Last year, scammers tricked 11,000 people — many elderly — to send them money through ATMs for Bitcoin and other crypto. The payments are often irreversible.

Companies that lack artificial intelligence governance may spend hundreds of thousands of dollars more in responding to cyberattacks, IBM found.

A FICO survey shows 33% think exaggerating income on credit applications is acceptable. Ironically, many also prioritize strong fraud prevention from banks.

Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.

First-party fraud — customers claiming they never made a transaction when they know full well they did — is a growing problem for banks. An emerging host of vendors including Socure are offering machine learning models that detect this.

Complaints to the Consumer Financial Protection Bureau have skyrocketed in the first half of 2025, due in part to an increase in payment scams generated by social media that target peer-to-peer payment platforms such as Zelle, Venmo and other apps.

American Banker's Frictionless Fraud report finds not all institutions are well assured their customer verification tools can keep up with new schemes.

Sam Altman, the founder and CEO of OpenAI, said the rapidly growing capabilities of AI are rendering many of banks' fraud prevention measures useless and warned of an "impending fraud crisis" if banks don't update their processes.

Texting a password recovery link to a customer presents the risk of someone else taking over the account. Researchers found this happens somewhat frequently.

To reverse the trend in payments fraud, regulators and the private sector must work together to expand how we define verification. It must be a dynamic, intelligence-driven process embedded at every point of the payment journey.

New research from American Banker finds that card and check fraud has gotten more problematic for bankers over time.