New fake-accounts tally surfaces; Wells Fargo disputes it
A consultant Wells Fargo hired to examine its customer data found employees may have opened almost 2.1 million from May 2011 to July 2015.]]
View ArticleNew phishing scam targets tax professionsals
The IRS, along with state agencies and industry groups, is cautioning preparers to beware of a new cyber scheme involving emails claiming to be from a software education provider.]]
View ArticleCan AI spy financial crime without implicating innocents?
Some bankers fear the use of artificial intelligence in detecting crime could catch innocent customers in a dragnet. Proponents say it can do a better job of spotting true criminals.]]
View ArticleNationwide partners with Verisk Analytics on insurance fraud
Vendor’s technology searches for indicators as first notice of loss information comes in, giving users access to a business intelligence dashboard.]]
View ArticleTD Bank’s bold bet on AI
In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.]]
View ArticleAllstate and Nationwide among insurers using public data sources in fraud...
Carriers must be careful stewards of data in order to mitigate the impact on consumer privacy, experts say.]]
View ArticleHow this digital-only bank lowers risk of sign-up fraud
Aspiration Bank relies on software tools to pull data from diverse sources to prevent fraud in account applications.]]
View ArticleCan AI help banks handle Venezuelan sanctions?
Many U.S. banks, especially in Florida, are struggling to comply with U.S. sanctions against the Maduro regime. Some argue artificial intelligence can make it easier to distinguish between legitimate...
View ArticleAI, advanced analytics and biometrics becoming central to anti-fraud efforts
13 percent of organizations now use AI and machine learning to detect and deter fraud, but another 25 percent plan to adopt such technologies in the next year or two.]]
View ArticleFighting fraud in store-brand credit cards gets assist from AI
Synchrony now deploys AI to speed up everything including credit approvals and fraud detection. Chief Information Officer Carol Juel has led the undertaking.]]
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