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 [...]
There may be no better example of how transactional artificial intelligence tools could be used to help combat elder abuse and financial fraud than with the case of Sharri Lynn Smith; a woman [...]
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 [...]
