Timely Topics:
What does the future hold in store for payment technologies?
The advancement of technology, coupled with rising demand for speed and convenience, is defining the future of paytech with a new era of innovatioFrom “FinTech Magazine” Alec Clere (12/4/2023)
Social and synthetic media are spawning new fraud, feds warn
While social media fraud is a problem for all ages, younger people are particularly susceptible, reflecting their outsized use of these platforms, the FTC said.
Every time we turn around, it seems that fraud has a new face. Old school check fraud is still with us and causing grief, but fresh threats are emerging constantly. Recent reports from the Federal Trade Commission and U.S. intelligence agencies have highlighted two new sources of risk: social media and artificial intelligence “synthetic media” tools.
From “ABA Banking Journal” (12/1/2023)
Are CDs a Good Investment for 2024?
With only a few weeks left in 2023, many of these CDs look like good investments going into the new year. But are they? If you’re thinking about investing in one soon, let’s take a look at what we know.
From “the ascent” Steven Porrello (11/28/23)
FDIC: Authentication in Internet Banking: A Lesson in Risk Management
The business model that banks use to offer products and services to their customers has evolved significantly. Most banks have supplemented tellers, drive-ups, and other facilities with electronic capabilities, many of which are facilitated by the Internet. This shift to Internet-based banking and e-commerce in general is accompanied by new risks as well as an increase in existing risks. Security weaknesses in Internet-based processes create opportunities for savvy hackers to compromise systems and steal data. The Internet provides an effective and anonymous medium for thieves to advertise and sell the stolen data. In response, the bank regulatory agencies and the banking industry have sought ways to mitigate these vulnerabilities.
From “FDIC” Supervisory Insight
Is it paying bills on time, robust savings, retirement fund, affording a new car? Whatever financial health means to you, it starts with getting your finances in order. It’s easy to think that keeping track of your account balances is all you need to do to stay on top of your finances. But that is […]
Learn More About What Does Financial Health Mean to You?Homeownership is the American Dream. It’s a significant step towards building wealth, but people across the country are struggling to purchase a home because of limited homes for sale, prices are high, and the Fed is raising interest rates. However, homeownership is not a lost dream – it’s a long-term investment. Here’s how you can […]
Learn More About 5 Tips for Home BuyersProtect Yourself from Scammers According to a recent alert to banks from the Financial Crimes Enforcement Network, part of the Treasury Department, criminals have been increasingly targeting the U.S. Mail and United States Postal Service mail carriers since the COVID-19 pandemic to commit check fraud. Criminals typically steal personal checks, business checks, tax refund checks, […]
Learn More About Check Theft & FraudTimely Topics: Beware of new Consumer Financial Protection imposter scams We can’t say it enough – the CFPB will NEVER contact you and ask you for sensitive information or to pay money. This includes never asking you to pay an upfront fee or taxes, or telling you that you’ve won a lottery, sweepstakes, or class-action lawsuit. […]
Learn More About IT Regulatory Compliance SecurityTimely Topics: ATM Security | American Bankers Association ATMs remain a prime target for criminals. Whether the criminals attempt to breach the machine through physical means or through malware infections, banks must remain knowledgeable about the evolving threats in their region. From “aba.com” This Remote-Created Check Fraud Cover-Up Was A Scam Check fraud losses are […]
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