Fraud
Fraud
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Lawyers for the plaintiff maintain the companies should have been on notice of inadequate security measures after a reported data breach in 2022.
December 18 -
An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.
December 10 -
While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.
November 29 -
With increasing focus on artificial intelligence in mainstream culture, the home lending field is making progress to adopt it across a variety of functions in the business. Here we round up a few recent developments in the space.
November 20 -
The order follows a similar decree by the Securities and Exchange Commission for publicly traded firms to disclose incidents they deem "material."
October 30 -
The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic.
October 23 -
The types of attacks ranged from malware, phishing and a zero-day hack of a vendor software which has rattled numerous bank and non-bank lenders.
October 19 -
Almost 9% of transactions also involved closing agents with inadequate insurance levels, the highest share on record, according to FundingShield.
October 13 -
One in every 123 purchase applications showed indications of fraud in the second quarter, outpacing the first, the report found.
October 6 -
A New York judge ruled Donald Trump is liable for fraud for exaggerating his net worth by billions of dollars a year on financial records submitted to banks and insurers, a major victory for the state's attorney general before a high-stakes civil trial over remaining claims in the case.
September 26 -
Georgia United Credit Union is collaborating with the income-verification fintech Argyle to combat submissions of false documents and other crimes.
September 25 -
While industry economics are getting better, higher rates in a purchase-focused environment can contribute to an increase in manufacturing errors.
September 22 -
The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.
September 13 -
Panelists from the Secret Service at a Mortgage Bankers Association conference Monday urged mortgage lenders to tweak their approach to reporting of wire fraud, home equity theft, investment scams and elderly-related financial crimes, which are on the rise.
September 12 -
Tata Consultancy Services' clients will have direct access to the fintech company's risk-mitigating ecosystem to keep their data, bank account verifications and transactions safe.
September 8 -
Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.
September 7 -
A home insurer that the industry services provider owns has exposure to the Vesttoo platform, an AI-driven cap markets fintech facing claims of falsified collateral.
September 5 -
Incidents have increased by five times on a quarter-to-quarter basis, starting with the shift in deposit relationships after Silicon Valley Bank failed, CertifID said.
August 11 -
Companies that don't use the technology on average pay $1.76 million more and take 108 days longer to respond to incidents than firms that utilize it.
August 4 -
The alleged scam targeted elderly Vietnamese-American homeowners in California and fooled banks into distributing illicit funds to the perpetrators.
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