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Tag: Payments Fraud

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Fraud Trends and Technology 2023

January 30, 2023 by Colin Parsons

Looking to the past can help us determine the course for the future. This is an important lesson for financial institutions looking to protect themselves and their customers from fraud. Financial institutions are facing a magnitude of fraud schemes, each... 

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Fraudsters Focusing on Higher Value Wire Scams

January 18, 2023 by Verafin

Payments fraud is an increasingly complex threat to financial institutions and consumers alike. As wire fraud attempts surge against individuals, especially for seniors, there is a growing debate surrounding mandatory victim reimbursements for Authorized Push Payment (APP) fraud. With a... 

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Liable? Consortium Solutions to Payments Fraud Change

October 28, 2022 by Verafin

Payments fraud is a major challenge across the financial industry — and with it has grown a significant call for legislative change. Concern over consumer-focused Authorized Push Payment (APP) scams has prompted proposals for mandatory victim reimbursement in the United... 

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Fighting Fraud with the Verafin Cloud

September 30, 2022 by Verafin

The industry leader in financial crime management, Verafin is offering trends and benchmarking statistics for wire fraud and related scams – allowing for unparalleled insight into new and emerging trends. We have gathered insights into key fraud trends by analyzing... 

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Preventing Payments Fraud Loss: The Power of a Consortium-Based Approach

September 8, 2022 by Verafin

Payments fraud is changing, and financial institutions are facing major challenges effectively managing the growing volumes of legitimate and fraudulent transactions. Meanwhile, fraudsters are focusing their efforts on Authorized Push Payment (APP) scenarios such as Business Email Compromise (BEC), and... 

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Rising U.S. & International Wire Fraud Threats

July 29, 2022 by Verafin

The high dollar value and irrevocable nature of many wire transfers make them inherently risky and a prime target for criminals. With fraudsters unrelenting, financial institutions must remain informed of growing wire fraud threats, both domestically and internationally.  Our experts... 

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Preying on the Vulnerable

July 8, 2022 by Verafin

In the fight against financial crime, change is perhaps the only constant. As financial institutions implement more robust controls against schemes such as wire fraud, criminals respond by evolving their tactics and increasing efforts against more vulnerable customer segments. In...