New data compiled by LexisNexis show the cost of fraud incurred by financial institutions is spiraling out of control. Overall, the costs associated with all frauds rose by 20% last year (2022), [...]
As you may recall, in September of 2017, Equifax announced news of a massive data breach. It was one of the largest, most consequential data breaches in US history.
Last year alone, 2022, losses associated with card fraud hit a record $34.4 billion. But while this number is astonishingly high, it’s only growing worse. Over the next 10 years, card industry [...]
It’s becoming increasingly necessary for financial institutions to implement artificial intelligence fraud detection and prevention systems to help detect new account fraud. Though some [...]
If you’ve ever been the victim of credit card fraud, or are a financial institution who’s been victimized, you know how painful and debilitating it can be to recover. But while it’s nearly [...]
In the last decade, technology has made accessing finances easier than ever. Today, bank customers and credit union members can deposit checks online or with their phone, instantly transfer money [...]
In the digital age, fraud is complicated. Fraudsters are becoming increasingly creative with their methods of accessing sensitive information. With regulations surrounding mobile banking [...]
In the digital age, fraud is complicated. Fraudsters are becoming increasingly creative with their methods of accessing sensitive information. With regulations surrounding mobile banking [...]
During 2022’s five-day holiday shopping period from Thanksgiving through Cyber Monday, a record 196 million US consumers spent $35.27 billion on consumer products, up a strong 10% over 2021.
Reports of financial crimes against the elderly are on the rise. Now, a startling $3 billion is swindled from our most vulnerable citizens each year. But while many of these frauds are initiated [...]
