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Key Takeaways From a Virginia Bank Fraud Case
Between 2015 and 2017, Micheal J Tiernan the co-owner of Ford's Colony Realty and Southeast Settlement and Title Company embezzled thousands of dollars from these companies, and he was ultimately indicted on seven felony counts ... Read More »
How to Review Your Financial Institution’s Fraud Detection and Prevention Processes
Every financial institution has anti-fraud measures in place, but how do you know if your efforts are working? You may assume that if you haven't suffered any significant losses from fraud or any data breaches ... Read More »
How to Improve Forgery Detection at Your Financial Institution
Even in the digital age, customers still use their signatures as a primary form of authentication for a range of transactions. Their signatures authorize checks, new account paperwork, loan documents, and more, and to minimize ... Read More »
How to Detect Check Kiting at Your Financial Institution
Perhaps one of the most common types of check fraud, check kiting involves writing a check from an empty account to create the illusion of a balance in another account and then withdrawing the funds ... Read More »
13 Signs of New Account Fraud
In 2018, banks lost $3.4 billion to new account fraud. This is when scam artists open new accounts to draft checks or spend money from lines of credit with no intention of repaying the funds ... Read More »
5 Benefits of Payee Positive Pay
With payee positive pay, your commercial clients can give you a file of the checks they issue, and when you receive checks drawn on their accounts, you can compare them to the information in the ... Read More »
Consumer Attitudes on Data Sharing:
How Consumer Opinions Should Shape Your Approach to Data Acquisition and Security According to 70% of financial firm executives, privacy concerns are a key material risk. To protect your financial institution, you need to be ... Read More »
Balancing Consumer Expectations and Bank Security
Today's consumers can pull up Amazon on their phones and order exactly what they want with a single click. When they sign in to Netflix, they get viewing suggestions tailored to their preferences that they ... Read More »
9 Mistakes Financial Institutions Make That Increase Their Vulnerability to Fraud
As the coronavirus has worked its way around the world, bank fraud has been growing at a faster rate than usual. Is your financial institution taking adequate steps to protect itself or are you inadvertently ... Read More »
Survival Tips for Retail Banks During the COVID-19 Pandemic
COVID-19 has wreaked havoc on retail banking. If you run a bank, you're undoubtedly dealing with the challenges of keeping in-person services available in the age of social distancing, managing revenue in the face of ... Read More »
