fraud

Identity fraud is soaring. Here's how one lender is attacking it.

07/02/20

Axcess Financial is using stronger authentication, studying up on bad actors and planning to use a federal service that automates verification of Social Security numbers.

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TD’s answer to a pandemic-driven spike in wire fraud

06/18/20

The bank says fraud attempts involving commercial wire transfers have escalated since the outbreak began. It's training employees and customers how to head off the often hard-to-detect scams.

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Small banks' battle to thwart unemployment scams

06/15/20

Peoples Bank in Arkansas and Main Street Bank in Massachusetts are getting smarter about spotting suspicious transactions tied to unemployment benefit fraud as well as warning customers what to watch out for.

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Former banker pleads guilty for role in Texas bank's failure

06/09/20

Anita Gail Moody, who was president of Enloe State Bank, admitted to creating phony loan documents — and setting a fire to destroy them — before the bank was shuttered in May 2019.

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Are banks doing enough to fight unemployment benefit fraud?

06/08/20

Banks and prepaid card providers have played an unwitting role in scams that have stolen billions of dollars from state unemployment insurance programs, whose payouts soared after coronavirus shut down the economy.

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S&T in Pennsylvania discloses potential exposure to check kiting scheme

05/26/20

The bank is trying to recover millions of dollars in returned deposits. It also has a $14 million loan to the company that allegedly conducted the scheme.

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New York man charged with $20 million PPP and SBA loan fraud

05/21/20

A Manhattan man was charged by federal prosecutors with fraudulently trying to obtain more than $20 million in government loans intended to aid small businesses affected by the coronavirus pandemic.

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Coronavirus scams are proliferating. Smart tech can stop them.

05/15/20

Artificial intelligence and machine learning are some examples of technology available now to help combat money launderers profiting from the pandemic.

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How banks can fight scammers exploiting the coronavirus

05/12/20

Fraudsters are attempting to intercept stimulus checks, set up bogus charities and defraud applicants for unemployment benefits. Mike Litt, consumer campaign director of U.S. Public Interest Research Group, discusses what can be done to stop them.

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Refi throttling, PPP fraud, employee monitoring: Top stories of the week

05/08/20

Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's most-read stories.

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