Fraud detection

Manafort, Cohen cases highlight banks' vulnerability to fraud

12/12/18

Time and again, two former associates of President Trump deceived banks in connection with loan applications. Their wealth, proximity to power and willingness to tell big lies all appear to have helped them get away with brazen schemes.

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How fraudsters surprised British banks

11/27/18

As U.S. banks move toward faster payments, they should heed the lessons U.K. banks learned about criminals after launching their real-time transaction system, says Varo Money's fraud strategy leader.

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OCC’s lax oversight compounded costs of thrift failure, IG says

11/08/18

Examiners could have done more to minimize the brunt to the Deposit Insurance Fund from Washington Federal Bank for Savings, which hid fraudulent loans and will cost the fund more than $80 million, according to a report from the Treasury’s inspector general.

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How Zelle, banks combat real-time payment fraud

10/10/18

For bankers and network providers, it’s a given that moving to a real-time payment system like Zelle will lead to an increase in fraud attempts. Here's a look at the ways they're fighting back.

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Bridge in N.Y. to take 3Q hit after alleged customer fraud

10/01/18

The company will record a quarterly charge after reporting potential fraud tied to commercial deposit accounts.

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Fighting fraud takes carrots, not just sticks

09/11/18

Happy State Bank and others use rewards, rather than punishments, to encourage employees to stay vigilant and catch fraud and cybersecurity issues.

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Comerica scrambles to address fraud in prepaid benefits program

08/26/18

The Texas bank, which partners with the U.S. Treasury to dispense federal benefits via prepaid cards, is alleged to have dropped the ball as hundreds of cardholders say their money was forwarded to fraudsters posing as them.

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Additional Wells misdeeds obscured by arbitration: Calif. official

08/23/18

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

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Fake employer mortgage fraud widespread in California, Fannie warns

08/09/18

A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.

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Pot banking regtech is ready for its moment

07/24/18

Several firms are touting tools to help financial institutions bank legal marijuana-related businesses, an industry expected to yield $10 billion in retail sales this year.

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