Fraud liability

Why fintech rollouts are magnets for fraud


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.


KeyCorp discloses $90M exposure from suspected fraud


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


How banks can protect against account takeover


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.


Are banks doing enough to protect Zelle users from fraud?


In Zelle’s national advertising campaign, the bank-run P-to-P network spotlights consumers paying a personal trainer, a babysitter and a neighbor. It sets an expectation that Zelle can be used like a credit card, and scammers have figured out how to exploit this trust.


Cordray urges CEOs to give consumers more control over payments, cards


A week before he is due to resign, CFPB Director Richard Cordray sent a letter to 29 CEOs at banks, credit unions and other financial companies, urging them to help consumers exert more control over credit cards, debit cards and other payment methods.


Bad checks could push a Kansas bank into the red


Landmark Bancorp in Manhattan, Kan., could lose more than $5 million — more than it earned in the first half of the year — if a recently discovered overdraft situation cannot be resolved.


Would consumers pay $13 a year for a safer debit card?


U.S. banks face a tricky calculus in deciding whether to adopt expensive technology aimed at reducing online fraud.


New fake-accounts tally surfaces; Wells Fargo disputes it


Wells Fargo may have opened as many as 3.5 million fraudulent accounts in the last 15 years, according to consumers who are trying to beef up a settlement with the bank over abusive sales practices.


How likely are fraud victims to leave their bank?


Professor Rahul Telang at Carnegie Mellon University's Heinz College analyzed the behavior of 500,000 bank customers over five years to observe their reactions to adverse events such as fraud on their bank account. It’s a rare objective measure of the effect of fraud on customer retention.