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.
Treasury & Risk’s 2023 Payments Fraud Survey has been released. Not surprisingly, the facts revealed within it show payments fraud remains a serious risk to institutions, while traditional [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]