GBG Plc’s Post

Fraudsters are constantly evolving their methods, presenting us all with new challenges. That's why AFP brought together industry experts to discuss how the payments fraud landscape has changed since the results from the 2024 AFP Payment Fraud and Control Survey, underwritten by Truist, were reported. Read our recap of the discussion for new fraud trends and the multi-layered approach organizations are using to combat them: https://hubs.ly/Q02_x2rh0

Combatting Digital Payment Fraud: Best Practices for Credit Unions - Explore the best practices credit unions can implement to combat digital payment fraud and protect their members' funds. https://hubs.ly/Q02vWRzy0

Combatting Digital Payment Fraud: Best Practices for Credit Unions - Explore the best practices credit unions can implement to combat digital payment fraud and protect their members' funds. https://hubs.ly/Q02vWY_p0

Scams are on the rise in Australia, with devastating consequences for victims like Jenny and Jian, who lost a combined $138,000 to a sophisticated scam. While the government and banks claim progress in combating scams, the $2.74 billion lost in 2023 is still unacceptably high. More investment and action are needed to protect consumers, especially as scams become increasingly sophisticated and widespread.   But we can't rely solely on regulations, awareness and vigilance are key.   Remember, scammers thrive on urgency and deception, so stop, think, and protect yourself. If you suspect fraud, act swiftly, report to authorities, and safeguard others by spreading awareness.   Feel free to connect with me at Digital Resilience if you need support with assessing financial crimes risk, training and awareness, or designing and implementing commensurate controls. https://lnkd.in/gjTvQspZ  

Combatting Digital Payment Fraud: Best Practices for Credit Unions - Explore the best practices credit unions can implement to combat digital payment fraud and protect their members' funds. https://hubs.ly/Q02vWNLW0

📈ACH fraud is on the rise! As credit push payment fraud becomes a bigger target, here’s what your bank can do: Stay Current on Fraud Methods: Know the rules and monitor for unusual ACH transactions. Use the Latest Tools: Adopt updated monitoring tools to protect your bank and your customers. Prepare before it’s too late—awareness and the right protections can make all the difference. 🛡️ #FraudPrevention #CommunityBanking #GuardTheGreen #IFAW2024

In this 𝗙𝗿𝗮𝘂𝗱 𝗔𝘄𝗮𝗿𝗲𝗻𝗲𝘀𝘀 𝗪𝗲𝗲𝗸, I want to emphasize the vital role each of us plays in safeguarding our bank and our customers. By staying vigilant and informed, we can effectively combat fraud and protect our community. Together, we are stronger, and our collective efforts make a significant difference in maintaining a secure environment. #UBAFraudAwarenessWeek #TheBankCloserToYou

$24 billion in check fraud is projected for this year — is your bank prepared? Check out the new American Bankers Association report on Check Fraud Detection and Mitigation for key strategies and tools to protect your bank and customers from this growing threat. https://buff.ly/4fz2GPi #CheckFraud #FraudPrevention

What are the most common bank frauds to watch for? You may have guessed some right off the bat, others might take you by surprise. But all are equally serious threats. See how many you knew—here are the 12 most common bank frauds... #fraudtech #fraudstrategy #bankingfraud #fraudprevention

The 2024 State of Fraud Benchmark Report unveils a concerning trend: 79% of credit unions and community bank leaders reported fraud losses exceeding $500,000 in 2023, a rate higher than any other sector surveyed. This stark reality highlights the disproportionate impact of financial crime on smaller institutions, despite a general slowdown in fraud attempts. At IMS, our comprehensive fraud prevention solutions are designed to empower credit unions and community banks, enhancing resilience against increasingly sophisticated fraud tactics → https://lnkd.in/ghyTj5YZ #FraudPrevention #CreditUnions #CommunityBanks #FinancialCrime