Proponents of real-time payments systems say banks must embrace them given consumer demand for more immediacy and transparency, even if criminals will try to exploit them.
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.
A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.
In hundreds of cases, the prepaid card program run by the bank allegedly sent users’ funds to fraudsters who had stolen their data. The security lapse has now caught the attention of the Democratic senator.
How banks and network providers combat real-time payment fraud; online banks try new pricing strategies; the Most Powerful Women in Banking call for greater leadership diversity; and more from this week's most-read stories.
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.
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.
