Banks struggle to talk about fraud
Payments Dive
MAY 15, 2025
Financial institutions battling an increase in fraud, particularly push-payment scams, have been stymied in sharing information that might help them better protect customers.
Payments Dive
MAY 15, 2025
Financial institutions battling an increase in fraud, particularly push-payment scams, have been stymied in sharing information that might help them better protect customers.
Abrigo
FEBRUARY 28, 2025
Can your AML/CFT and fraud staff recognize these fraud typologies? The technology used to perpetrate financial crimes may be changing, but these common fraud typologies aren't going anywhere. This is a nearly 10% increase in complaints received and a 22% increase in losses and thats just fraud that was offically reported.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Abrigo
APRIL 2, 2025
Payment fraud: What is it and why the payment system used matters Payments are evolving, and so are fraud tactics. Financial institutions must stay ahead by implementing proactive fraud detection strategies to protect their customers and mitigate losses. Key topics covered in this post: What is payment fraud?
Abrigo
NOVEMBER 22, 2024
Evaluating the FRAML approach For years, financial institutions have debated the merits of combining fraud and anti-money laundering (AML) functions into a single department in what's known as a FRAML approach. With such heightened scrutiny on fraud, keeping AML and fraud teams siloed may not be sustainable.
Advertisement
Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions.
Abrigo
MARCH 11, 2025
How to prevent internal fraud at your bank or credit union Of the many fraud risks banks and credit unions face, one of the most costly comes from within the institution itself. ACFE reported that 5% of an organizations revenue is lost to internal fraud each year, with an estimated $3.1 billion in total losses.
Abrigo
DECEMBER 2, 2024
Education, collaboration, and advanced fraud detection software can help prevent it. Education, collaboration, and advanced fraud detection software can help prevent it. The AML/CFT Officer or fraud officer plays a crucial role in any financial institution efforts to fight check fraud. They’ve evolved.
Advertisement
Consumer losses to fraud rose to $5.8 It's not just any crime; we're talking about money laundering and financial fraud. billion in 2021. Risk assessment is the latest technology that helps companies evaluate risks and ensure proper client onboarding.
Let's personalize your content