The Growth in Fraud at Credit Unions Has Gone Parabolic And Members Are Highly Concerned
Last year, well over half of all financial institutions lost more than $500,000 to fraud. However, for the credit union industry, it was even worse.
Why Real-Time AI Can Detect Bank Fraud Better Than Fraud Teams Alone
If your institution lost more than $500,000 to fraud last year, you’re not alone. In fact, a recent survey of 251 financial institutions showed a shockingly high 70% of them lost over $500K to [...]
The Dark and Dangerous Secret the Banking and Credit Card Industries Have Kept Hidden From Consumers… Is Now All Over CNBC
Financial institutions may be in big trouble. For years now, the industry has been trying to keep a dangerous secret away from the public. It’s a secret that could cause a major shakeup in the [...]
The Costs of Zelle Fraud to Banks and Credit Unions
Zelle fraud is a serious issue that affects countless consumers, banks, and credit unions across the country. But just how prevalent is Zelle fraud? … And can advanced artificial intelligence [...]
How To Detect New Account Fraud With Artificial Intelligence Technology
Fraud is a serious issue plaguing financial institutions. The Federal Trade Commission (FTC) reports that consumers lost a whopping $5.8 billion to fraud in 2021 alone. But while the numbers for [...]
Do You Have To Tell Your Members To STOP Using Their Debit Cards?
This Credit Union Just Did… And the Consequences Could Lead to Disaster Put yourself in your members’ shoes for a moment. You’re going about your day, shopping online, planning a family vacation [...]
Check Fraud Losses May Have Hit $34.4 Billion In 2022…
But Can This Ai Technology Finally Help Put an End to It? Fraud and risk teams at banks and credit unions have had enough. Since at least 2020, there’s been a parabolic increase in all forms of [...]
The Cost Of Debit Card Fraud To Banks And Credit Unions
Debit card fraud is a serious and growing problem for banks and credit unions. Every year, institutions lose millions of dollars to fraudulent charges. But what exactly is debit card fraud? And [...]
Overall Fraud Costs Rose 20% Last Year…
With Banks and Credit Unions Incurring Most of The Losses New data compiled by LexisNexis show the cost of fraud incurred by financial institutions is spiraling out of control. Overall, the costs [...]
Banks And Credit Unions Beware: Even After The $425 Million Equifax Settlement, Data Breaches Continue To Ravage The “Big Three” Credit Bureaus
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. The names, social security [...]