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5 Ways Your Transaction Monitoring System Can Detect COVID-19 Related Fraud

Abrigo

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

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A Letter to Bank and Credit Union Software Vendors

Gonzobanker

Tell a story about how another client solved a similar problem— Lately, I have been seeing a ton of demos on fraud detection systems. We get it—ID theft and check fraud are nightmares. Please don’t show me seven slides with industry stats on fraud. So many demos use the same script for banks and credit unions.

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Join Our New Online Community to Fight Fraud & Financial Crime

FICO

The challenge for financial institutions of fighting fraud and tackling financial crime has never been greater. As the market for global payments and financial services grows, criminals develop new strategies and technologies to make illicit gains. The new community is driven by some of the finest minds in fraud detection.

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Fraud Ideas from FICO World 2022 – and Excitement for 2023!

FICO

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45. by TJ Horan.

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Recap of Money 20/20 USA 2023 and 10 Banking Thoughts

South State Correspondent

Below is a breakdown of all 300 sessions, less the demos and sales pitches. As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. However, of course, it was generative AI that remained at the peak of the hype cycle.

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Real-Time Payments Fraud: Can Elephants Learn to Dance?

FICO

Here, achieving success often involves adopting technologies that let established firms connect their past with their future, in ways that catapult robust-but-inflexible legacy infrastructure into new markets and contexts. However, fast time to market only accentuates fraud risk, because real-time payment systems are catnip to fraudsters.

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Theranos Lays Off Most Of Its Workforce

PYMNTS

The move comes as CEO Elizabeth Holmes agreed to settle with the Securities and Exchange Commission (SEC) over “massive fraud” charges lodged against the company. However, the reality, according to the SEC, was that the company’s blood analyzer technology could only do a small number of tests.

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