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Deposits, Deposits, Wherefore Art Thou? Juliet’s banker. 

Perficient

On May 31, the Federal Deposit Insurance Corporation (FDIC) reported to the public what many banks already knew and had been experiencing for the past year – that deposits are declining in the American banking sector. There has almost been $1.2 Trillion removed from the banking system over the past year.

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FDIC issues cease and desist letters alleging false or misleading representations about deposit insurance on crypto-related products

CFPB Monitor

On August 19, 2022, the FDIC issued cease and desist letters to five crypto companies, alleging they made false and misleading statements about FDIC deposit insurance and demanding immediate corrective action. According to the FDIC’s press release , “[b]ased upon evidence collected., Part 328, Subpart B.

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Top 10 Crypto scams to look for in 2023

Abrigo

"The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector," read a joint statement from the Federal Reserve, FDIC, and the OCC. No legitimate business or government will ever email, text, or message you on social media to ask for crypto.

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AI fraud challenges: How to guard against losses

Abrigo

Public social media sources have made it easier for fraudsters to obtain information by looking at what people post online.

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Silicon Valley Bank Failure – Lessons in Interest Rate Risk Management

South State Correspondent

On the liability side of SVB’s $173B in deposits at the end of 2022, approximately 97% were uninsured and above the $250k in FDIC protection threshold. The customer segment is such that they tend to follow each other and are active users of social media. That combination made their liabilities very sensitive to safety.

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Expanding Your Loan Trading Network: 4 Lessons from Apple

Jack Henry

Although you may have access to public information on the web and through the FDIC, knowing the partner has been vetted by another company ‒ possibly one that you already work with ‒ can be comforting when considering a transaction. Make sure all parties benefit. Integrate partner offerings into your ecosystem.

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Fighting Fraud with… Fake Fraud?

Bank Innovation

Humans are by nature vulnerable to social engineering and may discuss where they work on social media — LinkedIn is a treasure trove for would-be bank hackers. The most vulnerable point in a bank’s network today might just be Bill over in marketing — or any employee. A common attack against a Read More.

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