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 [...]
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 [...]
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 [...]
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 [...]
