fraud detection

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BID Newsletters
Mar 7, 2022
It is not surprising that mobile fraud is surging, as the US has over 294MM smartphone users. Community financial institutions need to stay aware, meticulously authenticate customers’ identities, and communicate the latest scams to their customers to stay out of harm’s way. Here are three of the latest mobile phone scams and how to stay out of trouble.
Dec 13, 2021
The pandemic has impacted financial institutions in many ways, especially with the explosion of digital payments. This increase caught the attention of cybercriminals, as eight out of every ten fraudulent transactions entail a card not present (CNP). Here are four steps community financial institutions can take to help prevent CNP fraud.
Aug 27, 2021
Since COVID-19, fraud has increased threefold, which is causing bankers to work harder than ever to fight fraud. Technologies have helped. Yet, with such large transaction volumes to process, it can be challenging, leading to a zone of uncertainty. We explain what this is and how to reduce this uncertainty with three key steps.
Jun 29, 2021
Does your institution use an interactive voice response system? Most do. While very effective at providing round-the-clock customer service, fraudsters are now using them to infiltrate customer accounts. Scammers love IVRs, so we explore four strategies to help you fight this type of fraud.
Jan 19, 2021
Are you doing everything you can to help your customers fight fraud? We share four ways that your peers are doing this, including text messages, locking and unlocking cards, and education.
Jan 12, 2021
Automation is an important way to stay competitive, according to Fitch Ratings. Automated customer experiences, fraud detection, and wire automation are three key areas for a competitive edge.
Oct 5, 2020
Mobile banking has surged. As that trend continues, cyber criminals stand ready to strike. We give you tips to fight back.
Jul 22, 2020
Unemployment benefit fraud is making the rounds. We provide you with a few key reminders to avoid being caught in a fraud snare.
Jul 21, 2020
FinCEN issued an advisory on pandemic fraud scams and schemes. We give you some of the highlights.
Jul 13, 2020
Fraud during crises is not new. So, we provide you with some important information on PPP fraud protection.
May 4, 2020
We answer more important questions today on the coronavirus, including remote customer support, anti-fraud preparation, and PPP assistance.
Feb 12, 2020
Employee financial crime can happen even in small businesses, such as community financial institutions. We provide some important reminders.
Jan 29, 2020
Faster payments are growing in popularity, but so is the opportunity for thieves. What your institution can do to stay safe.
Feb 3, 2020
Today we answer your questions on fraud detection, branch traffic and CRE lending.
Jul 22, 2019
Banks need to vigilantly train on the signs of elder abuse. We provide additional resources to help.
Dec 21, 2017
A recent survey found 60% of bank customers who experienced fraud discovered the issue before their banks told them about it. What can banks learn from this?
May 24, 2019
Occupational fraud is the biggest threat facing small businesses. What you and your business customers should know.
Jul 12, 2018
One online payments expert sees fraud growing at an even faster rate than digital sales. With all of this in mind, what can community banks do?
Mar 1, 2018
As banks try to help fraud victims, they may be hampered by the very customers they are trying to protect. Interesting insights your bank could leverage.
Feb 15, 2018
Digital payment channels are becoming faster and more convenient but fraud is a big concern. What your bank should know.