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How to Advertise Your Fraud Prevention Efforts Without Showing Your Hand

According to the Bureau of Justice Statistics, seven percent of Americans over the age of 16 face at least one incidence of identity theft every year. That means that over a five-year period, over 35 percent of the country’s adult population is likely to be affected. Dealing with identity theft... (more...)

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Making the Leap to Digital: An Overview for Financial Institutions

While many businesses are scrambling around trying to figure out how to get rid of their file cabinets and replace them with digital records, banks are going a step further. Brick-and-mortar banks and credit unions are offering an increasing number of digital services to their clients, and all-digital... (more...)

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What Is Automated Signature Verification?

You may already know that automated signature verification is a tool that automatically verifies signatures to protect against forgery and fraud. But, do you know how this process works or why it’s beneficial to you and your clients? Here’s a closer look. How Does Automated Signature Verification... (more...)

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How Long Should You Give Your Customers to Report Fraud?

If one of your customers gets their bank card, checkbook, or account details stolen, a thief may make purchases or draw money out of the account. Legally, you have to absorb some of these costs, but it depends on the type of transaction and when your customer reports the issue. However, in some cases,... (more...)

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Make Sure Your Customers Know About These 5 Scams

In many cases, your customers are the gateway through which scammers target your bank. As a result, when you educate your clients, you protect your entire enterprise. To safeguard your financial institution, you may want to make sure your clients know about the following popular scams. 1. Phishing Scams Phishing... (more...)

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How Automated Check Image Analysis Works

Examining checks manually takes a lot of time and effort, but thanks to automated check image analysis, you no longer have to worry about that wasted time or money. Wondering how it works? Here’s a look at the process. Reading the Magnetic Ink As you know, most checks use magnetic ink, and check... (more...)

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How to Create a Culture That Reduces Internal Theft and Fraud

In 2015, a bank teller in White Plains, New York was at the helm of a group that stole $850,000 from multiple bank accounts. Two Chase bankers in Brooklyn took almost $400,000 from customer accounts, and a teller in Chicago took nearly $2 million. While banks seem to focus most of their anti-fraud efforts... (more...)

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Working Together to Fight Bank Fraud

Banking can be a competitive industry where you’re always contending with the bank on the other side of town or even on the other side of the country. However, when it comes to fraud, banks need to work together. To reduce fraud in your institution and to help other banks in the progress, check... (more...)

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Transaction Analysis: A Primer for Bankers

Transaction analysis is the process of examining bank transactions to look for fraud or other issues. To reduce fraud, banks need to analyze checks, ACH payments, loan transactions, debits, and credit card payments. Some of this happens manually, but software is beginning to play a larger role. Here’s... (more...)

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How to Do a Risk Assessment of Your Financial Institution

When you run a financial institution, you need to safeguard your resources and your clients from threats. That often starts with a risk assessment. To help guide you in the right direction, here’s a very brief overview of what needs to happen during a financial institution risk assessment. Make... (more...)

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