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Travis Hill is newly appointed acting head of the Federal Deposit Insurance Corporation (FDIC) In 2017 during his first term, Trump issued an Executive Order directing more relaxed regulation We will likely see major changes for the banking industry in the next three years As reported in PYMNTS.com, the newly appointed acting head of the…
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There are 10 recommended warning signs that signal check fraud None of the warning signs require special equipment to detect Bank tellers, however, cannot be expected to get through the checklist on a busy day Spotting a fraudulent check is not an easy task. Fraudsters have finely honed their craft, and even the most seasoned…
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The business world is tangling with “a startling resurgence in check fraud” Going digital has advantages- but many won’t until they are victimized Implementing Payee Positive Pay service is essential The Bottomline blog pulls no punches with the title of its latest entry, How to Beat Check Fraud: Go Digital, Get Positive Pay, or Get…
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Checks are seen as a “speed bump” for advancement and innovation Why paper checks are still used FIs need to focus on integration, rather than replacement As we kick off 2025, we see another article selling checks short as a major payment channel. PYMNTS.com notes that paper checks are a “speed bump” slowing the pace…
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Scammers are using “mules” to pass bad checks Some “mules” are unaware that they are aiding a scam There are risk factors to look for when detecting mule-aided scams Sarah Cassidy, a senior consultant at FICO specializing in fraud, takes a look via the FICO Blog at money mule fraud, a major and growing problem…
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Check fraud looms large for financial institutions Post offices and carriers are targets of check theft A holistic solution is the best approach Yes, you read the title right. In a new podcast from the ABA, Glenn Fratangelo, Director, Product Marketing, NICE Actimize, opens the interview with Patrick Smith, SVP, Fraud Operations, ABA, with the…
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1 2 3 Forbes Magazine features a post by Julien Villemonteix, the CEO of UpSlide, a software company that creates documents for investment banking and financial advisory firms. She notes that the banking industry is abuzz with excitement over the potential of artificial intelligence (AI) to transform the sector. With the global AI market projected to…
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Recording Future monitors 700 Telegram Channels for Stolen Checks in H1 2024 85% of stolen checks are likely “reposts” High concentrations of stolen checks are in metropolitan areas Telegram is a major communication channel leveraged by criminals due to its encryption and anonymity. This makes it an attractive method for selling stolen checks. Previously, we…
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IRS is prepped for the 2025 tax season The organization has had a boost in number of personnel The IRS plans to fight AI with AI The 2025 tax season is now upon us, and we all know what that means…fraudsters are ready to pounce on billions of dollars in tax refunds. In 2023 to…
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Trends to look for in 2025 Back-office AI streamlining legacy payments Will quantum computing take hold in 2025? As we kick off 2025, Forbes.com has come out with their list of “The 10 Most Important Banking And Financial Technology Trends That Will Shape 2025.” The article notes: As technological disruption and economic uncertainty continue to…
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