Banking 2020

NOVEMBER 24, 2015

First the good news – banks in Britain stopped nearly £1 billion in attempted fraud in the first six months of 2015. Banks prevented £7 in every £10 of attempted fraud, according to Financial Fraud Action (FFA) UK, which reports that losses on payment cards, online and telephone banking and cheques totalled £325.3

Fraud 40

Fraud Cards Cyber Security System 40

Banking 2020

JANUARY 29, 2016

Protecting a financial services organization against fraud requires much more than a strong password policy and client education. The sophistication of cyber attacks and high risk of fraud necessitate a comprehensive anti-fraud program that includes policies, processes and technologies. Step 2: Perform a root cause analysis.

Fraud 40

Fraud Analysis Policies Training 40

Banking 2020

DECEMBER 11, 2015

Ho, Ho, Hoax: According to ACI Worldwide, consumers need to brace themselves for a higher level of fraud online and across all channels this holiday season. With more consumers using devices to shop, fraud attempt rates increased by 30% compared to 2014.

Mobile 40

Mobile Fraud Online Software 40

PYMNTS

MAY 16, 2016

While Lending Club generally focuses its services on consumers, the implications of Laplanche’s resignation have echoed throughout the SME lending space as well and could see a further decline in banks backing small business loans offered through marketplace platforms. 65% of U.K. and U.S.

Fintech 108

Fintech Lending Fraud Cards 108

Banking 2020

NOVEMBER 19, 2015

Three’s a crowd, so the saying goes, but it could also mean fraud losses for banks and merchants if they’re not careful. Within PSD2 is the Access to Accounts’ (XS2A) rule, which forces banks to enable access to their customer accounts to third party apps. In all three cases, operating models need to be improved and reassessed.

Security 40

Security Fraud Regulation System 40

Banking 2020

JANUARY 22, 2016

Why did Ventura County Credit Union see a need to get involved with Moorpark Police Department’s “Operation Take Back the Pump”? VCCU felt it was important to participate in any county-wide action that allowed us to help mitigate/thwart fraud attempts in our community.

Community 40

Community Fraud California US 40

Banking 2020

AUGUST 27, 2015

One new approach that banks are exploring to mitigate this particular vector of fraud is the notion of using smartphones as a second factor of authentication since most people always have their phone with them. Of course ATMs are operated not as cost reduction tools, but as profit centers for banks and independent owners.

ATM 40

ATM User Experience Fraud UX 40