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Archives

Tag Archives for: "Fraud Prevention"
 New Senate Report Confirms It,  Zelle Fraud Is Growing Out of Control
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By ToolCASE
In Industry Article, News, ToolCASE
Posted October 11, 2022

New Senate Report Confirms It, Zelle Fraud Is Growing Out of Control

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 [...]

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 Small CUs Are Now The Most Susceptible to Fraud
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By ToolCASE
In Industry Article, News, ToolCASE
Posted October 4, 2022

Small CUs Are Now The Most Susceptible to Fraud

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 [...]

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 Account Takeover Fraud Losses Top $12,000 Per Incident, Could Worsen in 2023
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By ToolCASE
In Industry Article, News, ToolCASE
Posted September 26, 2022

Account Takeover Fraud Losses Top $12,000 Per Incident, Could Worsen in 2023

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.

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 FedNow℠ Set To Launch In Less Than One Year
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By ToolCASE
In Industry Article, News, ToolCASE
Posted September 8, 2022

FedNow℠ Set To Launch In Less Than One Year

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 [...]

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 The Best Method For Detecting Insider Bank Fraud
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By ToolCASE
In Industry Article, News, ToolCASE
Posted August 25, 2022

The Best Method For Detecting Insider Bank Fraud

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 [...]

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 $1.4 Million Stolen From Banks and Credit Unions
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By ToolCASE
In Industry Article, News, ToolCASE
Posted August 25, 2022

$1.4 Million Stolen From Banks and Credit Unions

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

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 Bank Defrauded Out of $157,256.92
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By ToolCASE
In Industry Article, News, ToolCASE
Posted August 24, 2022

Bank Defrauded Out of $157,256.92

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 [...]

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 This PII and Bank Fraudster is Looking at a Possible 120 Years Behind Bars
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By ToolCASE
In Industry Article, News, ToolCASE
Posted June 23, 2022

This PII and Bank Fraudster is Looking at a Possible 120 Years Behind Bars

Following a five-day bench trial, Olayinka Peter Olaseinde of Rhode Island was convicted of a bank fraud conspiracy targeting financial institutions, businesses and private individuals. His [...]

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 Lenders Beware: Here Are 2022’s Top Metros for Mortgage Fraud
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By ToolCASE
In Industry Article, News, ToolCASE
Posted May 20, 2022

Lenders Beware: Here Are 2022’s Top Metros for Mortgage Fraud

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 [...]

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 The PII of Nearly 2 Million Residents of This State May Have Been Exposed to The Dark Web
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By ToolCASE
In Industry Article, News, ToolCASE
Posted May 20, 2022

The PII of Nearly 2 Million Residents of This State May Have Been Exposed to The Dark Web

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 [...]

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