It's critical for fraud pros at financial institutions to stay on top of KYC compliance requirements in order to maintain regulatory adherence and keep bad actors out of their system. Here are the top 10 things you need to know about KYC. Whether you...
Picture this: a fraudster writes a check for $5,000 from his account at a credit union and walks over to his local branch of a nationwide bank, depositing the check by scanning it in at the ATM. It’s a large check, so the bank makes half of the funds...
Discover how banks and credit unions can combat the top 5 payment fraud trends
The Zelle® network yesterday launched a new multi-city financial education training roadshow in partnership with Consumer Action, a national non-profit dedicated to consumer protection and financial empowerment for more than 50 years.
During the COVID-19 pandemic, stimulus fraud was rampant. Now, building on the success of pandemic-driven tactics, fraudsters are turning their attention to new account openings.
As account openings surge and application processes continue to move...
Once the receiving financial institution (FI) has validated an incoming Zelle® payment against all applicable velocity, fraud, and account disposition checks, funds will be transferred to the recipient’s banking account.
For over 30 years, Early Warning has been innovating to move banking forward. Learn more about Early Warning and our products work.
Payment fraud detection is difficult to perfect. It’s a slippery form of fraud that shifts its shape as new technologies emerge. Indeed, criminals are relentless in their pursuit to steal funds via unauthorized payments—continuously innovating new...
Zelle® released the following statement regarding the politically motivated copycat lawsuit filed by the New York Attorney General.
Learn how Early Warning can help your FI use big data and predictive analytics to say goodbye to bank deposit fraud
by Eric Foust
The COVID-19 pandemic spurred large corporations and small businesses alike to double-down on their plans for adopting real-time payments. It also created a prime opportunity for financial criminals. Indeed, faster payments mean...