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Artificial Intelligence in Bank Fraud Detection and Prevention
Artificial intelligence has changed how we live. It permeates our everyday lives in countless different ways. AI dictates the playlists on our music apps, the posts in our social media feeds, and the results of ... Read More »
How to Protect Your Financial Institution From Rising Fraud Costs
Bank fraud notably increased during the pandemic, but financial institutions aren't just facing more fraud, they're also paying more to deal with it. When Lexis Nexis interviewed over 500 risk and fraud management executives in ... Read More »
10 Critical Fraud Detective Controls
The longer fraud goes undetected, the more it costs and the more damage it creates. To protect your financial institution, you need strong detective controls. Here are nine critical controls that you should be using ... Read More »
7 Critical Fraud Remediation Strategies
The best advice on how to deal with bank fraud emphasizes the importance of being proactive, rather than reactive. This approach is critical. A proactive fraud posture means that you focus on detecting fraud before ... Read More »
5 Tips for Protecting Your Bank’s Reputation After Fraud Occurs
Fraud has a significant reputational effect on banks. Customers want to trust your bank, and if they feel like they can't, they will take their business elsewhere. Even if they leave their accounts open, they ... Read More »
How Signature Verification Tools Detect Forgeries
Traditionally, banks had physical signature cards for every one of their account holders. These cards allowed bank employees to compare the account holder's reference signature with the signature on the transaction. Many banks still have ... Read More »
Banks Tighten Cyber Security in Wake of Russian Sanctions
When Western nations placed sanctions on Russia, the threat of cyber attacks on banks increased. To protect themselves, banks have been taking a range of precautionary measures. If you run a financial institution, you need ... Read More »
10 Facts About Safe Deposit Boxes
Although they're not as popular as they used to be, safe deposit boxes are still in demand. There are approximately 25 million safe deposit boxes in the United States — that's one for every thirteen ... Read More »
7 Strategies to Protect Your Bank From Social Engineering Attacks
While you create your fraud prevention strategy, you need to keep in mind that humans are often the weakest link. As fraud prevention and detection strategies get stronger, fraudsters have to find alternatives, and increasingly, ... Read More »
What Do Consumers Expect From Their Banks?
Consumers need banks, just as much as they need food, clothing, and shelter. But just as they have a wide range of choices for these essentials, they also have a lot of choices in the ... Read More »
