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The Comprehensive Guide to Account Takeover Fraud Prevention and Detection
Understanding layering in money laundering is the first step necessary for banks to prevent it. With this knowledge, banks can better protect their customers and the financial system's integrity. This article explores the three stages of money laundering, emphasizing layering and how it works from a money launderer's perspective. We will also discuss how banks can prevent layering and detect money laundering activities, including transaction monitoring, customer due diligence, and suspicious activity reporting.
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Fraud
Banks are expected to offer a seamless customer experience while also stopping fraud in its tracks. Learn how banks can balance these goals and manage risk effectively in the digital banking era.
Collection • 10 Articles
Covid-19
The global coronavirus pandemic caused widespread disruption to numerous industries. Learn how machine learning technology helps organizations adjust to unpredictable conditions and stay vigilant against fraud.
Collection • 9 Articles
AML
Criminals launder money to disguise their illegal activities and make their funds look legitimate. Learn how banks and regulators can stay ahead of the latest anti-money laundering (AML) trends.
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UK Finance Fraud Report Results: Banks Face a Perfect Storm of Change
The latest figures from the UK Finance Annual Fraud Report 2024 offer a glimpse into the state of the UK’s fraud and scam-fighting efforts. If there’s one key…
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How to Secure Omnichannel Payments
Fraudsters don’t have a one-track mindset. They’ll commit fraud across multiple banking channels to increase their chances of success and to evade detection.…
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3 Key Takeaways from Nacha Smarter Faster Payments
Financial services professionals from different organizations, industries, and specialties recently attended Nacha's Smarter Faster Payments 2024 conference in…
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How Acquiring Banks Can Protect Merchants
Acquiring banks (also known as acquirers or merchant acquirers) are more than go-betweens for customers, merchants, and payment card schemes. They empower…
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The Psychological Impact of Scams
What’s the most powerful tool in a scammer’s arsenal? Believe it or not, it isn’t a convincing phishing message or a Generative AI video or voice call; it’s…
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Migrating to the Cloud: Enhancing Fraud Prevention through Modernization
The banking sector's transition to cloud-based architectures is pivotal in leveraging the vast amounts of data available today for fraud prevention. By…