News Topic: Fraud detection

Fincen and others say third parties are proving to be treasure chests for crooks who create synthetic identities, but aggregators argue they help detect risk banks can’t see. ... Read full article

Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms. ... Read full article

There were signs Kathy Kraninger would continue a rollback of consent orders and investigations, but many observers see an aggressive approach reminiscent of the Obama era. ... Read full article

Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast. ... Read full article

Credit decisions were a natural place to start with artificial intelligence, but now banks and credit unions are taking the technology to all parts of their businesses. ... Read full article

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

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. ... Read full article

U.S. financial stocks are down nearly 4% this week on rate pressure, but it’s even worse for European banks; the mutual fund giant will automatically sweep investor cash into a money fund yielding 1.9%. ... Read full article

Banks have to do a better job of protecting personal information about their customers' children. ... Read full article

The Cleveland regional said the matter is tied to a commercial client and that law enforcement is investigating it. ... Read full article

Trace Fooshee, senior analyst at Aite Group and former head of fraud strategy at SunTrust, explains fraudsters’ latest tactics and the best methods of self-defense. ... Read full article

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

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions. ... Read full article

The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession. ... Read full article

Albert Ko, who had been the chief transformation officer of Intuit, says he will work to improve Zelle's interface to make it more appealing to consumers. ... Read full article

A Wells Fargo customer was interrogated, fingerprinted and mistakenly arrested for check forgery after a series of mistakes on the bank's part. He was cleared, and Wells says it made an error, but they are now fighting in civil court. ... Read full article

Police and city agencies can no longer use facial-recognition technology, which civil liberties groups say infringes on human rights. The measure may be an ominous sign for biometric login authentication. ... Read full article

The Southeastern regional bank said Thursday that it had hired Lee Byrd to a new role dedicated to protecting customers and the company itself from fraud. ... Read full article