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Preliminary rulings by a Pennsylvania judge will allow a jewelry company that claimed it lost $1.1 million to fraud to move forward with suing individual bank employees.
March 26
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A month after the collapse of FTX, federal prosecutors filed eight charges against crypto mogul Sam Bankman-Fried. Four of them involved wire fraud.
March 26
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Wars in Ukraine and the Middle East. Fiercely polarized U.S. politics. Rapidly multiplying payments options on social media networks and elsewhere. Those factors and more are making it harder than ever for banks to combat illicit financial transactions.
March 25
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Bankers from Citigroup were partying with clients one night in May 2018 at a downtown Manhattan hot spot called Catch.
March 25
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Specialized large language models should be harnessed to help financial institutions identify and halt fraudulent activity. The best model would involve regulator-approved pooling of anonymized customer data.
March 25
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In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.
March 20
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The American Bankers Association and U.S. Postal Inspection Service have launched a public awareness campaign on ways to protect checks sent in the mail.
March 20
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Companies lose an estimated 5% of their revenue each year due to fraud, according to a report from the Association of Certified Fraud Examiners.
March 20
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American Bankers Association CEO Rob Nichols argued Tuesday that the trade group had no choice but to sue federal agencies that "overstepped" their authority. Former Trump-appointed regulators expressed support for the industry's increased willingness to take its overseers to court.
March 19
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Industry veterans are wary of prospective borrowers who can't pay for agents, and of compensation guidelines clashing with government mortgage lending programs.
March 19
