During tax season, financial institutions have to deal with a specific type of fraud — tax refund fraud. Criminals file fake returns to claim refunds and then, have the money deposited into their own or ... Read More »
There are millions of counterfeit bills in circulation. Even with the rise of digital payments, counterfeit cash continues to be a risk for financial institutions. Nationwide, there are news stories about counterfeit bills almost every ... Read More »
Mule accounts are a critical element of many types of bank fraud. Scam artists open mule accounts to deposit fraudulent checks. They also recruit money mules and use their accounts to launder counterfeit instruments or ... Read More »
Your customers expect to be able to handle their banking needs from anywhere, and when they're engaging with your bank remotely, you need innovative tools to capture their signatures. Mobile capture tools can facilitate this ... Read More »
Automating your fraud detection and prevention services doesn't just improve your financial institution's ability to detect and prevent fraud. It also improves the customer experience in many valuable ways. Check out these often underlooked customer-centered ... Read More »
Banks have to live in the digital sphere right now. Even small financial institutions that pride themselves on offering personalized services in an impersonal world need digital capabilities. Customers may want personal bankers and loan ... Read More »
Your fraud detection and prevention efforts don't just affect your bottom line. They also impact your brand and your environmental social governance(ESG) posture. Reducing your fraud risk also positively impacts your financial institution's ESG. This ... Read More »
Since 2010, Bank of America (BOA) has been handling the debit cards for California's unemployment program. In early 2020, an unprecedented number of residents needed unemployment benefits, and at the same time, an unprecedented number ... Read More »
Small and midsize business (SMB) lending fraud has grown significantly over the last two years. COVID-19 and the increased use of mobile applications have fueled this type of fraud — in mid-2020, lenders were already ... Read More »
Every technology that improves the customers' banking experience also comes with new fraud risks. Mobile capture technology allows banking customers to conveniently deposit checks into their accounts without visiting a branch or ATM, but this ... Read More »