A powerful step in the fight against fraud is using a common lexicon. Take the small step and get a giant leap against bad actors
Your organization could improve the reporting, detection and mitigation of scams by using the ScamClassifier(SM) model. Discover the benefits of the new tool: https://lnkd.in/db_A-vdc #scams #fraud #paymentssecurity #fincrime #fraudmitigation #Fed
To improve scam reporting, detection and mitigation, a new recommendations report encourages the industry to consider creating a solution or establishing an independent information exchange framework for a holistic view of scam intelligence from existing sources across payment rails: https://lnkd.in/d3rv86xt #paymentssecurity #securepayments #fincrime #FederalReserve #scams #fraud
What a pleasure to speak at the Fraud Leaders' Summit in Cannes earlier this week on the topic of "Securing the Financial Frontier: Convergence of Fraud & AML in a Digital Age". One key theme linking fraud and AML is the real-time identification of money mules, a new stand-alone offering from Lynx Tech. Preventing fraudsters from transferring APPF / scam funds within the banking ecosystem via money mule accounts will severely restrict the movement of these funds to organized crime, as well as significantly reduce losses to FIs and their customers. 👊 Many thanks to my excellent panelists: Artur N., Dan Mcloughlin, Piotr L., Mark Falzon 🙌 #Fraudfighters #IntelligenceSharing #FraudAwareness #financialcrime #FraudInvestigation #FraudProtection #FraudLeadersSummit
The FedPayments Improvement #scams definition and classification work group recently developed a voluntary classification structure – the ScamClassifier℠ model. This new tool will help improve scam reporting, detection, and mitigation. Learn more about our work: https://aciw.co/4cJoXsi #fraud #paymentsindustry #fincrime
Pig butchering scams are a sophisticated form of fraud targeting individuals through social media, dating apps, and messaging platforms. Scammers build trust over time, posing as financial experts or friends, only to lead victims into fake investments, stealing significant sums. At Velocity, we're here to keep your finances safe. Connect with our fraud prevention team to learn more about safeguarding your future - velocity.alacergroup.com #AlacerGroup #VelocityFinCrime #FinCrime #Compliance #ComplianceSolutions #AntiFinancialCrime #AntiMoneyLaundering #FinancialSecurity #2024Trends #AMLSoftware #Check #CheckFraud #InternationalBanking #PigButcheringScam
Preventing scams requires a multifaceted approach. Stopping a romance scam is different than an e-commerce or P2P scam. With so many types of ways people are manipulated, how do you know what you can do to reduce scams? The first thing is to know the type of scam you are facing. The new scam classifier model can help you do that. #scam #fraudprevention #fraud
To help combat the growing prevalence and severity of scams, the Federal Reserve and a work group of payments and fraud experts developed the ScamClassifierSM model. Watch this video to learn more: https://lnkd.in/ePWVkqFQ #scams #fraud #paymentssecurity #securepayments #fincrime #FederalReserve #fraudmitigation
The ScamClassifier(SM) model can help make detecting, investigating and mitigating scams easier. It can also improve claims intake and scam reporting. Read about the new model: https://lnkd.in/dk3qCSSN #paymentssecurity #securepayments #fincrime #Fed #paymentsindustry #fraudmitigation
Missed last week's webinar? 🏦 Katherine Robinson, GRCP, CFE, CAMS, Donna Turner, Kyle Daddio, and Ian Macallister reacted live to key findings from our upcoming State of Fraud & AML report. 📊 They discussed how banks are tackling fraud with real-time monitoring, strategic investments in preventative controls, evolving scams, and more. Key takeaway: Many institutions start with detective controls and then invest in preventative measures to stay ahead of evolving threats. 👀 Watch the full recording for a sneak peek at the data! https://lnkd.in/eFfFsq-w #Banking #FraudPrevention #CheckFraud #Scams #StateofFraudandAMLReport
AFC Ecosystem: Typology Tales In today’s edition, we take a look at a new scenario that enables #banks and #fintech to have another layer of protection against transaction fraud. To combat transactional fraud, financial institutions screen entities against comprehensive blacklists that can identify fraud suspects. Both the sender and received can be screened against multiple parameters such as first name, last name, country, city, address, postal code etc. 🌐 What is the Typology: Screening of specific entity profile parameters against a #fraud blacklist for any transaction. Head on to our #AFCEcosystem page to get more insights on the above scenario https://hubs.la/Q02xx0-50 #TypologyTales #AML #FraudPrevention #Tookitaki
Our solutions allow for a clear view of entities, relationships, hidden patterns, anti-money laundering and other various types of fraud before it occurs. #Reliablesoftware #Datasecurity #ITconsulting To know more check - https://lnkd.in/dMPAYpF3
Helping Landlords Combat Fraud | Exposing Fraudster Tactics & Solutions | Synthetic Fraud & Identity Theft Detection
A recent US Treasury alert calls out some key indicators for spotting deepfake fraud in identity verification. This is from the FinCEN (U.S. Department of the Treasury’s Financial Crimes Enforcement Network) alert. Some red flags to look out for: 🚩 Inconsistent identity photos or documents 🚩 A customer changing communication methods during verification 🚩 Multiple failed verifications due to “technical issues” Even though no single indicator can confirm fraud, these are some of the red flags that may help reveal deepfake or synthetic identities, even in tenant applications. Here's the link: https://lnkd.in/gdPbVGET Johnny Bravo🏘 #Deepfake #fraud #identityverification
