Card fraud

Coronavirus scams to watch out for

03/11/20

Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.

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U.S. charges four Chinese military members over Equifax hack

02/10/20

The Department of Justice announced charges Monday against four members of China’s People’s Liberation Army for hacking into Equifax Inc., according to Attorney General William Barr.

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CFPB sues Citizens over card fraud claims, but bank pledges to fight

01/30/20

The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.

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Treasury renews Comerica contract for benefits program hit by fraud

01/07/20

Comerica Bank won another five-year contract from the Treasury Department to run the prepaid Direct Express card program despite criticism of how it handled past fraud cases and customer service blunders.

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What FICO sees through its window into fraud

11/11/19

Doug Clare explains how the organization uses artificial intelligence to spot crime rings and skimmers.

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Fake ID fraud is declining, but small lenders are still vulnerable

10/08/19

Though synthetic identity fraud is down across the industry, there's been an uptake in such attacks targeting credit unions.

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How American Express uses machine learning to detect fraud

09/03/19

Tina Eide, Amex's senior vice president of global fraud, discusses the card issuer's efforts to strengthen its transaction monitoring.

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IG to Treasury: Don't whitewash lapses in Comerica benefits program

08/22/19

An inspector general’s findings suggest that the Texas bank could face more consequences over how it handled fraud cases last year tied to the Direct Express program.

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'The right to financial services should be universal': Comments of the week

06/27/19

Readers respond to how Congress should address AI, concerns on Facebook's Libra and its logo, a report challenging card fraud prevention and more.

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Card fraud fuels criminal activity. Is industry doing enough to stop it?

06/25/19

Researchers found that stolen payment data has been used to finance terrorism, human trafficking and other organized crime. Their conclusion that card fraud needs to be taken more seriously by banks and card networks drew pushback from the financial industry.

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