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In the UK, “Challenger Banks” are becoming popular Inflation was once the primary threat to Challenger Banks Fraudsters are turning their attention to potentially unprepared Challenger Banks Challenger banks — small, recently created retail banks that compete directly with the longer-established banks in the UK, sometimes by specializing in areas underserved by the “big four”…

Tax season is once again upon us With tax season comes tax fraud in the form of IRS impersonators Refund checks are also targets for theft from mailboxes and alteration As inevitable as the sun coming up in the morning, tax season is here again. For many, it’s a stressful, sometimes baffling period that creates…

Check fraud is on the rise with no relief in sight “I think check fraud is going to hit $24 billion or more this year,” says Frank McKenna Banks will need to invest in technological “shields” again check fraud Suparna Goswami of the ISMG Network spoke to Frank McKenna, chief fraud strategist at Point Predictive…

BAI examines the current state of fraud protection Banks need to prepare, for example, for ‘deep fakes” In a “digital world,” check security benefits from advancing ink and printing technologies This month’s BAI Executive Report examines in great detail the current state of fraud protection and what can be done to bring more efficiency and…

Fraud of all kinds is on the rise First party fraud is most difficult to spot Are financial institutions investing in the right tools? Check out the infographic. The prevalence and escalation of financial fraud of all kinds are not not news, of course — though we tend to concentrate on check fraud in this…

While there are no specific data points to reference just yet, we can conclude from conversations with our partners and clients within the banking industry that check fraud saw another surge in 2022 — and there are no signs of it slowing down. From our newest eBook entitled Top 5 Vulnerabilities and Trends in Check…

Just because it was the holiday season doesn’t mean #FraudFighters were taking a rest! LinkedIn was buzzing with #CheckFraud posts to keep up the good fight. Check out the latest posts: View the post on LinkedIn → View the post on LinkedIn → View the post on LinkedIn → View the post on LinkedIn →…

An employee used his access to software and accounts to steal money His inspiration came from the film OFFICE SPACE This scam was not his only scheme Movies can inspire many behaviors, both good and bad. For decades many bartenders, for instance, have been subjected to the request that a drink be “shaken, not stirred”…

A congressional report accuses fintechs of profiting from PPP loans These fintechs also ignored fraud prevention steps Speed was valued; accuracy was not Over the past few years, we’ve heard many stories surrounding PPP loans and fraud. However, the stories that typically hit the “headlines” were of businesses and their owners abusing the loan funds…

Over 20 states are sending inflation relief payments These payments are largely in the form of checks via mail Fraudsters will surely target the checks With inflation in the United States at 7.1% for the year ending in November 2022 — after rising 7.7% before that — there is some good news for citizens of…