BlogInflection Points: 5 Key Trends for Payments FraudJune 5, 2023 by Verafin The financial industry has entered a period of significant challenge and opportunity in payments. With the increasing focus on frictionless customer experiences and introduction of new payment rails such as TCH RTP and FedNow, money is moving faster than ever... |
BlogBanking on Deceit: Billions Lost to Cybercrime & Authorized Push Payment FraudApril 21, 2023 by Colin Parsons “Today’s cyber landscape has provided ample opportunities for criminals and adversaries to target U.S. networks, attack our critical infrastructure, hold our money and data for ransom, facilitate large-scale fraud schemes, and threaten our national security.” – Timothy Langan, Executive Assistant... |
BlogFrom the Cloud: Deep Insights into Wire Fraud TrendsMarch 15, 2023 by Verafin Payment fraud is a challenge that is pervasive in the financial industry, and a threat to financial institutions of all sizes. As the talk of a liability shift for consumer-related payment fraud gains momentum within regulatory spheres, additional pressure is... |
BlogFraud Trends and Technology 2023January 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... |
BlogFraudsters Focusing on Higher Value Wire ScamsJanuary 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... |
BlogLiable? Consortium Solutions to Payments Fraud ChangeOctober 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... |
BlogFighting Fraud with the Verafin CloudSeptember 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... |
BlogPreventing Payments Fraud Loss: The Power of a Consortium-Based ApproachSeptember 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... |
BlogRising U.S. & International Wire Fraud ThreatsJuly 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... |
BlogPreying on the VulnerableJuly 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... |
