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FedNow fraud prevention for credit unions: A guide for AML, fraud teams

Abrigo

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations.

Fraud 221
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Podcast: AI, RPA, fraud detection, data sharing enhancements in 2024

BankInovation

Technology and innovations advanced in leaps and bounds in 2023, including enhancements to AI, the introduction of generative AI and investment in data analytics.

Fraud 115
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Understanding 1st-party fraud: Risks and resolutions

Abrigo

How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Takeaway 3 Prevention and detection best practices can curb hard dollar 1st-party fraud losses while protecting clients.

Fraud 195
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The true cost of fraud

Abrigo

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. That equates to $35 billion annually.

Fraud 195
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Check fraud detection tips for AML professionals

Abrigo

Takeaway 1 Check fraud detection is a critical component of AML programs because it is one type of fraud that continues to trend upward in financial institutions. Takeaway 2 According to the FBI, reported losses from check fraud total $1 8 billion annually.

Fraud 195
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Ingo CEO: Technology Plays Defensive Role Against Mobile Deposit Check Fraud

PYMNTS

And even before then, as evidenced by an earlier conversation between Karen Webster and Drew Edwards , CEO of Ingo Money , mobile deposit fraud was increasingly becoming a favorite vector for criminals. Back then, Edwards noted that mobile check fraud was escalating so much that some banks were shutting off the feature entirely.

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Regtech in banking: How emerging technology helps keep banks compliant

Abrigo

Would you like other articles on fraud and AML/CFT compliance in your inbox? Takeaway 1 Regtech uses new technologies such as AI and machine learning to streamline processes that keep organizations compliant. Consider what compliance and risk functions your organization would use as a starting point when integrating technology.