News

Money laundering is a prevalent problem in the United States. Today, new technologies can help fraud teams prevent money laundering activities by deep-screening and monitoring accounts and [...]

A California-based physician, Donald Woo Lee, has been sentenced to nearly 8 years in prison for billing Medicare $12 million for unnecessary or non-performed procedures; a practice known as [...]

Retailers and consumers beware. Both Visa and Mastercard are expected to jack-up card-swipe fees as soon as this month. Citing fraud as a reason for the fee escalation, the card companies believe [...]

In late April, the Office of the Comptroller of the Currency (OCC) sent cease-and-desist orders (C&D) to two banks, citing them for BSA/AML deficiencies. In addition, the OCC fined one of the [...]

Mortgage and loan fraud is on the rise, having leapt 15% in the first quarter of 2022 over the same quarter last year. Lenders should be aware that the threat of mortgage fraud is highest in the [...]

The Texas Department of Insurance (TDI) announced this month that the personal identifiable information (PII) of 1.8 million Texas workers who filed compensation claims, has been breached. The [...]

Electronic payment systems are constantly evolving to keep up with the ever-changing landscape of how we do business. This is especially true for real-time payments, which are growing in [...]

Florida credit union overhauls its fraud prevention with big assist from AI *This article was originally published in American Banker by Carter Pape May 06, 2022, 3:35 p.m. EDT As algorithmic [...]

Upcoding fraud is a type of health insurance fraud where a healthcare provider submits a bill to an insurance provider that’s more expensive than the actual services provided. The goal of this [...]

The friction between banks and their clients over fraud and account takeovers has reached the boiling point for one Truist banking customer. Perran Davis says his deceased father’s estate account [...]