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Despite advancements in AI for transaction monitoring, financial institutions share little in the way of fraud data, undermining efforts to combat crimes including check fraud.
By Carter PapeApril 2 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
By Carter PapeMarch 27 -
A report reveals Heartland Tri-State Bank's failure last year was due to its CEO being ensnared in a sophisticated investment scam that is taking more victims.
By Carter PapeFebruary 19 -
An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.
By Carter PapeDecember 10 -
Large language models were a big part of the discussion during the company's earnings call on Thursday.
By Carter PapeOctober 27 -
The bank suffered its third breach in three years, this time by virtue of a vulnerability in Progress Software's file-transfer system. But Flagstar is only one of many such victims.
By Carter PapeOctober 18 -
The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.
By Carter PapeSeptember 13 -
Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.
By Carter PapeSeptember 7 -
The implementation plan the Biden administration released on Thursday seeks to shift liability for data breaches onto "the biggest, most capable" entities. Does that mean banks?
By Carter PapeJuly 13 -
Ransomware gang Cl0p is currently threatening 50 companies with releasing data it stole from them late last month.
By Carter PapeJune 22