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Fraud Concerns and Trends in 2022

Abrigo

Fraud on Alert for 2022 A review of SAR data , government agenc y releases, a nd fraud findings found these f raud c oncerns and trends to wat ch in 2022. Takeaway 1 An Abrigo review of SAR data, government agency releases, and fraud findings revealed fraud trends to watch for. Fraud Concerns. Starting Point.

Trends 195
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AML Compliance Controls Can Be Costly

PYMNTS

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies. The Cost of Compliance. Mobile, online and phone channels all have distinct fraud challenges and customer needs.

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Fidor: How Cloud-Based Banking Helps With Compliance

PYMNTS

Consumers moved to digital banking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice.

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Deep Dive: Strategizing Transparent, Holistic Digital Banking Transformations

PYMNTS

The number of online banking customers is growing worldwide, and FIs’ consumers are coming to expect seamless digital experiences as a result. One study recently determined that the number of digital banking users is expected to exceed 3.6

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Deep Dive: How The Pandemic Is Changing Cloud Compliance Rules And How FIs Can Keep Up

PYMNTS

Most banks are familiar with how quickly regulatory requirements can change. Staying abreast of these various compliance shifts can be costly and challenging for banks, but doing so is necessary to ensure that financial institutions’ (FIs) operations can run smoothly and ward off cyberattacks.

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Top 5 Surprises from FICO’s Fraud and Digital Banking Survey

FICO

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Our survey found that good fraud protection is paramount for customers - even though they themselves may exaggerate income or claims. A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8

Survey 52
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Report: Overcoming ID Fraud’s Technology Blind Spots

PYMNTS

Financial crime is a pervasive threat to banks, credit unions, FinTechs and other financial institutions (FIs) the world over. A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time.