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Fraud and cybercrime have been increasing Telegram has become a prime platform for threat actors to conduct various scams and distribute malware The fact that it is quick and easy to “set up business” on Telegram is a huge attraction We all seem to know at least one person who has been the victim of…
Read MoreA decrease in check usage has not meant less fraud Nevertheless, checks remain popular in the United States A corresponding jump in fraud — some of it organized — is occurring in the US Jessica Washington, AAP, assistant vice president in the Retail Payments Risk Forum of the Federal Reserve Bank of Atlanta, notes in a post…
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One of the hottest topics in the news this week is Bitcoin Halving. The Bitcoin network is built on a foundation of scarcity and decentralization, with Bitcoin halving playing a pivotal role in both. This event, occurring approximately every four years, is not only a scheduled element of the Bitcoin monetary policy but also a…
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Mail theft is on the rise, and checks are being stolen for fraud The Post Office claims it is doing what it can to combat theft A CBS News investigation seems to show otherwise CBS News reports that while the US Postal Service claims to be applying “rigorous action” to the mounting problem of mail…
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Check fraud continues to grow at an alarming rate PYMNTS reports Fed recommendation of electronic payment methods, or “instant disbursement” The data show less than 50% adoption of instant disbursement As we all know, check fraud continued to surge in 2023, and is likely to surge in 2024. A post at PYMTS.com reported estimates by…
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Core Banking systems are becoming vital Centralization of information is key Straight-Through Processing ranks high in importance for successful core banking At Fintech Futures, Principal Fintech Analyst at Omdia Philip Benton takes a look at the state of core banking systems. He appropriates his fellow FinTech Futures columnist Dharmesh Mistry’s definition: To define core banking, Dharmesh…
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There are common fraud tactics to look out for Check fraud is on the increase Consumers can stop fraud by being aware of certain telltale signs While many of our blogs take an in-depth look into different topics and trends surrounding check fraud, it’s important to remind ourselves of the various types of check fraud…
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Michael Hsu backs FDIC’s proposal for increased scrutiny of bank mergers surpassing $100 billion Legacy systems in banking pose vulnerabilities that can be exploited by hackers during mergers Larger financial institutions are more reluctant to adopt open banking Mergers & acquisitions are commonplace in the banking. Whether it’s two financial institutions looking to strengthen their…
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The days of overnight processing in the consumer banking sector are over About 50% of banks, however, still use overnight batch processing Real-time data processing is now not only recommended, but crucial At Fintech Futures, banking industry veteran Dharmesh Mistry argues that that many banks still rely on outdated legacy core banking systems that do…
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The United State Secret Service also investigates financial crimes Check fraud detection used much different methods in the 90s Check fraud is on the rise, but so is the effectiveness of AI tech designed to detect and prevent it Some may be surprised to see the Secret Service mentioned in conjunction with financial crimes. Don’t…
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