Industry Article

ToolCASE has compiled its final report on full-year fraud statistics for 2021, and the facts are startling. Even as the pandemic waned, and many frauds associated with PII theft and COVID relief [...]

A new report from the office of Senator Elizabeth Warren has revealed what many in the banking industry already know. Zelle fraud is on the rise, and unless proactive, cost-effective steps are [...]

Small credit unions and banks are now at the highest risk, perhaps ever, of fraud attacks and subsequent financial losses. Recent reports show that fraud incursions have increased by 71% at small [...]

Account takeover fraud (ATO) is on the rise. A recent report from Security.org show’s that over 24 million US households have become victims.

The Federal Reserve has announced a new, narrow launch window for its FedNow real-time payments service.  After years of development, testing, pilot programs and delays, FedNow will officially go [...]

In 2020, the FBI arrested an Amazon employee after issuing more than $96,000 in fraudulent refunds. To achieve this fraud, the Amazon insider created multiple buyer accounts to purchase [...]

Three Miami, Florida residents have been sentenced for their roles in $1.4 million stolen from Banks and Credit Unions.

Batch Processes in Core Banking Systems Becoming a Major Issue Clarence Wigfall Jr., from Granite City Illinois, has admitted to defrauding a bank out of more than $157,000. According to the [...]

Could This Real-Time Fraud Detection and Prevention System Have Stopped Him? Steven Knigge, a retired fraud investigator with the South Dakota Department of Revenue, is facing fraud-related [...]

Two New Columbia Pennsylvania residents were indicted on charges of insider fraud against Nu Community Credit Union and its members out of $1.2 million over the course of several years. The duo, [...]