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Fraud
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Check Writing Decreased, yet Check Fraud Increased
Check use has dropped 82% over the past 30 years, yet check fraud remains a very popular form of criminal activity. It is low-tech, presenting a huge pool of victim... -
Carefully review your third-party service provider contracts-don't just accept, negotiate!
Using third-party service providers may boost confidence and capacity for financial institutions, but a breach at a third-party vendor may create havoc for any bank... -
Be aware of emerging Ransomware ruses hitting the banking industry
Ransomware trends are emerging that distinguish the current threat landscape from the environment of only a few years ago. Here are some best practices that may mit... -
Counterfeit check schemes continue to tick up
Counterfeit check fraud continues to rise. Nearly half of the bond claims submitted in 2022 (so far) are related to counterfeit checks claims. -
The invasion of Ukraine has raised concerns about potential cyber-attacks
The current crisis unfolding in Ukraine has universal ramifications: Cyber security experts and bank regulatory agencies are warning of the potential for a worldwid... -
Financial Fraud Kill Chain may be used to recover fraudulent international wire transfers
Created by the FBI, the Financial Fraud Kill Chain may help your financial institution in preventing the successful withdrawal of funds by criminal actors. -
What steps can your bank or organization take to protect against ransomware attacks and email fraud?
With the alarmingly sharp increase in malware and ransomware attacks, ABA Insurance Services' SafeTalk offers some preventative steps your organization can take to ... -
The Impact of Wire Fraud Loss: By the Numbers
ABA Insurance Services shares statistics about wire fraud loss, including the anatomy of wire fraud, what are the facts, what is the cost, where is it being reporte... -
Ransomware attacks are becoming more prolific
The threat of ransomware is nothing new; however, attacks are evolving to become more disruptive and payment demands more consequential. Ransomware is no longer sim... -
Employee education, multi-factor authentication are important defenses against online crime
Cyber criminals are attempting to use social engineering and other schemes to bypass the multi-factor authentication security protocols commonly used by banks and o... -
Who may be lurking behind that email?
The current pandemic has created the ideal environment for fraudsters, who are taking full advantage of potential vulnerabilities brought on by a remote workforce. -
Fraud involving HELOC loans shows no signs of slowing
Criminals are finding new ways to target banks and their customers through HELOC loan fraud. See suggested steps to take to help mitigate HELOC-related fraud. -
Be vigilant against rapidly evolving fraud schemes
Among recent claims noted by the FBI are schemes involving banks and their customers, PPP loans/funds, advanced fees and business email. -
Importance of Written Agreements in Preventing Wire Transfer Fraud
Wire fraud losses continue to grow at astounding rates. It’s imperative that your staff understand the importance of your bank’s written agreements. -
The Impact of Wire Transfer Fraud and Prevention Best Practices
Our webinar recording focuses on critical best practices that bank staff can take to actively protect their bank's customers’ identities, accounts and funds.