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Rogue Traders

If your financial institution employs traders, you need to be on the lookout for rogue traders. As you may know, rogue traders act independently, take on risky investments, and tend to have minimal regard for their clients and your financial institution. To protect yourself, keep these essentials in... (more...)

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The Safeguards Rule — An Overview for Bankers

By necessity, companies that offer financial services have to deal with very sensitive information and important data from their customers. Banks and other financial institutions collect data such as birth dates, social security numbers, credit card numbers, credit histories, and income information on... (more...)

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Prime Bank Instrument Fraud

Over the past few years, people and businesses from around the world have lost billions of dollars in prime bank instrument scams. There are no prime bank instruments, and if someone is trying to entice your customers or employees to invest in these instruments, they are a scam artist. To protect yourself,... (more...)

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Identity Theft Protection Tools You Should Offer Your Clients

According to the Bureau of Justice Statistics, 17.6 million U.S. residents were affected by identity theft in 2014 — the latest statistics available. That’s about 7% of all people over the age of 16. There’s a good chance that your customers may face identity theft at some point; to protect... (more...)

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How to Spot a Forged Check

Before cashing or accepting a check, your tellers should look it over using the Z-method. That means they should review the details on the check from the top left corner to the bottom right corner, looking for issues or errors with the check issuer, distorted images, incorrect dates, out-of-sequence... (more...)

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5 Signs Your Bank Needs to Fuzz

Fuzzing is a proactive software testing technique where IT security experts enter invalid or random data into computer programs to see if the inputs cause crashes, memory leaks, or other issues. To ensure your banking software is working correctly and operating securely, you may want to hire an expert... (more...)

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5 Red Flags of Mortgage Fraud

Unfortunately, not everyone who comes to your bank looking for a home loan is honest. Some applicants may try to obtain mortgages fraudulently. To protect yourself from fraud in the loan origination process, you should keep an eye out for the following red flags. Inconsistencies in the Credit Report One... (more...)

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EMV Chips: 7 Ways They Improve Security

In 2016, the United States finally began the transition from magnetic strip credit and debit cards to EMV chip cards. Short for Europay, Mastercard, and Visa, the companies that develop and administer this technology, EMV chips have been used in Europe for over a decade and have greatly improved bank... (more...)

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Venmo Scams

Venmo is an app that is designed to simplify money transfers, and it works about the same way as an electronic banking transaction. The app works well for exchanging money between relatives and friends, and many people use it when selling goods. Unfortunately, however, Venmo is now the center of many... (more...)

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Leveraging Love: Online Dating Scams

Everyone wants to find love, and in today’s high-tech world, more and more people are flocking to the internet to meet that special someone. Dating sites have popped up for every conceivable type of social group from farmers to the gluten intolerant, and social media sites such as Facebook and Instagram... (more...)

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