Fraud
Fraud
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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