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Friendly fraud: How should fintechs view the risks?

Payments Dive

With friendly fraud, fintechs don’t always consider the whole picture when it comes to fraudulent disputes.

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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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Panel blasts fintechs for missing PPP fraud

Payments Dive

Fintechs like Womply and Blueacorn provided the “paths of least resistance” for fraudsters bilking the federal Paycheck Protection Program, a House subcommittee said Thursday.

Fintech 221
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Fraud risk could run to billions in PPP loans

Bank Innovation

Last week saw banks and fintechs scrambling to stand up platforms to process Paycheck Protection Program loans, and now the struggle is to keep the platforms running while weeding out potentially fraudulent applications. Fraud is a common trend with government relief programs.

Fraud 335
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2022 Predictions: Fraud and fintech innovations

BankInovation

In 2022, banks must counter the continued growth of fraud, which saw increased frequency in the wake of the COVID-19 pandemic, while also acknowledging competitor fintechs as equal players in the financial services space.

Fraud 98
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Deep Dive: How FinTechs, FIs Can Arm Up Against Fraud

PYMNTS

FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. The People’s Bank of China announced in March that it plans to create rules for regulating and securing the FinTech sector, for example. . A report found that the U.S. imposed a full $23.52

Fraud 189
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How FinTechs Combat Fraud Risk With Automation

PYMNTS

FinTech firms are tapping into automation and training to stay on top of the latest security developments, while keeping an eye on evolving trends in the payments space. Fraud, for instance, is an ongoing threat, with nearly three-fourths of U.S. financial institutions reporting growing losses attributed to online and mobile fraud.

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