Payments fraud is the most expensive kind, at $450B; anti-financial-crime execs are the most worried about real-time payments, a survey from Nasdaq and Oliver Wyman found.

The Federal Trade Commission became able to distribute more than $1.2 million after a legal battle in which a Supreme Court decision came into play.

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

Over one-quarter of consumers said they are open to making misstatements to get a house, while 60% gave an answer besides absolutely not when asked if they would follow advice to put in misleading information.

If convicted, spouses Noreen Khan and Chistopher Mayberry face five years in prison and a fine of up to $250,000 as well as forfeiture of their home.

In a filing, the company's subservicing subsidiary Loancare said 1.3 million customers had their data compromised, while in an ongoing situation, customers of fellow title insurer First American find themselves without email or online access after a separate incident last week.

Chicago businessman David Izsak grifted several financial institutions out of $4 million by taking out phony home loans and other types of credit.

Lawyers for the plaintiff maintain the companies should have been on notice of inadequate security measures after a reported data breach in 2022.

An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.

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.

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.

The order follows a similar decree by the Securities and Exchange Commission for publicly traded firms to disclose incidents they deem "material."

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.

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.

Almost 9% of transactions also involved closing agents with inadequate insurance levels, the highest share on record, according to FundingShield.

One in every 123 purchase applications showed indications of fraud in the second quarter, outpacing the first, the report found.

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.

Georgia United Credit Union is collaborating with the income-verification fintech Argyle to combat submissions of false documents and other crimes.

While industry economics are getting better, higher rates in a purchase-focused environment can contribute to an increase in manufacturing errors.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.