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Defining the balancing act between security and customer expectations Customers have grown to appreciate that minor inconveniences mean better security 62% of banks indicate third party check fraud is their biggest issue The latest BAI Deep Dive takes on “The fraud prevention balancing act: protection vs friction.” Much of the discussion involves changes seen in…

41% increase in attempted fraud from 2020 to 2021 — 2022 NICE Actimize Fraud Insights Report Cost of fraud is up 10% from pre-pandemic Fraud can occur at any step in the user journey and from any device or workflow The proliferation of fraud across the globe is no secret. While numbers vary from source…

Check fraud is “the oldest fraud in America” Postal carriers are being physically assaulted “Supply and demand” of checks for fraud is elevated these assaults even further Fraud is a major topic throughout the business world. No matter the type — from retail to big tech — fraud remains one of the biggest challenges. This…

LinkedIn — the world’s largest internet professional network — is a great way for professionals to connect with colleagues and other industry leaders, strengthening relationships to advance their careers. Over the past few years we’ve seen many of these professionals use the LinkedIn platform to take an active role in spreading news and content that…

Peer-to-peer payments services are being targeted by scammers Because the victim technically initiates the payment, banks in many countries refuse to refund losses incurred this way The CFPB may raise banks’ financial obligations to customers who lose money in a payment-services scam According to a report published in The Wall Street Journal, the Consumer Financial Protection…

Insurance Business America cites a recent report from Featurespace, a provider of enterprise financial crime prevention software. It observes that the financial sector is facing a significant conflict in that financial crimes – especially scams – are increasing, while at the same time laboring under the perception that any solution means added complexity and compliance…

Philadelphia has become a magnet for mail theft Rampant mail theft targets check Lowered enforcement resources afforded to the Post Office may be the cause Over the past several months, we have covered the wave of mailbox thefts & mail carrier robberies that has plagued the US. In fact, according to data from the Postal…

LinkedIn — the world’s largest internet professional network — is a great way for professionals to connect with colleagues and other industry leaders, strengthening relationships to advance their careers. Over the past few years we’ve seen many of these professionals use the LinkedIn platform to take an active role in spreading news and content that…

Banks and law enforcement have much to teach one another “Simple theft” is often the first step toward more sophisticated scams Check fraud is an easily accessible and “quick payback” scam methodology “Crime doesn’t pay” is a familiar statement. The deeper meaning is that the punishment outweighs the benefits. However, if we take the statement…