Alloy’s Post

How do you know if contact from a company is a scam or legitimate? How do criminals get personal information? These are just some of the questions Victorians asked Chris Sheehan when he spoke to 3AW Afternoons’ Tony Moclair about scams.📻🎙 Listen below to learn more about 🧐The scam environment 🚩 Red flags to look out for ⚠️Ways to protect yourself and your business   💪Action NAB is taking 📱Digital banking trends https://lnkd.in/grGZw4gP We have colleagues across the bank working every day to reduce the impact of scams on our customers. We can, and will, do more.

Even if a bank has the best fraud defenses, and competent people running operations; criminals will target the “weakest” point, which is the customer. How do we develop strategies based on an unknown quantity. The struggle will be to a balance customer experience with the protection of the bank and in a sense the customer also.

Reviewing your bank account on a regular basis is a great way to stay on top of fraud. The quicker you can report unknown transactions, the easier it is to prevent future fraudulent charges. #CyberSecurityAwarenessMonth

When it comes to fighting fraud, banks are facing critical roadblocks: 📊 33% of banks say their software just doesn’t cut it. 📉 31% are struggling with staffing shortages. 🧩 30% report missing the vital context needed for proper investigations. These numbers, from the American Banker Report, highlight the cracks in fraud defenses, leaving institutions vulnerable to increasingly sophisticated schemes. Our solutions focus on providing the tools and support banks need to detect and act in real-time. Check out the full report >> https://lnkd.in/dJ6T6vcm

Check out this quick highlight from our webinar on the American Banker check fraud results. ⚠️ 36% of all banking fraud stems from check fraud—making it the #1 threat across the industry. Smaller banks are hit hardest: ▪️ Community banks: 43% ▪️ Mid-sized banks: 41% Criminal hotspots and geo-specific threats are driving this costly trend. 🎥 Catch the full webinar for more insights >> https://lnkd.in/dyZenT-d Check out the full report >> https://lnkd.in/dJ6T6vcm Watch the clip below for more insights 👇

OPINION 💡 | Banks should be held accountable when fraud 💰 takes place on their watch Martin Kenney writes exclusively for GRIP on the failures of banks when it comes to fraud: "Under normal circumstances it is understandable if banking systems fail to pick up on transactions that could be considered suspicious by others. But there is a difference between systems failures and what judges point to as a form of dishonesty on the part of those who may be sued for facilitating a fraud – “wilful blind-eye knowledge of the obvious.” Read more right now on GRIP ⬇️ 📲 https://lnkd.in/egF5ijQX #banking #banks #fraud #moneylaundering #aml

Did you know that more than a quarter of consumers experienced some type of credit card fraud in the past year? In fact, 37% of consumers are very or extremely worried about the prospect of credit card fraud.  Check out our recent Consumer Credit Economy Report, “Credit Card Fraud Fears Can Drive Consumers to Switch Banks,” a PYMNTS Intelligence and i2c Inc. collaboration. This report reveals that consumers believe banks bear the responsibility for combating credit card fraud and safeguarding customer accounts.  Download the full report now: https://lnkd.in/e__S2MPJ #CreditEconomy #ConsumerInsights #creditcards #i2c 

Real-time and instant payments fraud in Europe: key insights for banks, PSPs, and fraud prevention | #ukscams | #datingscams | #european https://lnkd.in/gsEqrh77 #scams #dating

📉 80% of organizations report being impacted by fraud, and alarmingly, 30% fail to recover their losses. Fraud not only threatens your bottom line but also erodes customer trust and disrupts operations. Our latest Q4 2024 Bank Intelligence Report provides the insights and tools you need to stay ahead of fraudsters. 🔗 Download the report now: https://ow.ly/TqWi50UulwY #FraudPrevention #RiskManagement #BusinessInsights #FraudTrends

Wire fraud is rampant. And we think a shift is coming where the liability will be moved from consumers to banks. Why? The Senate Banking Committee just put out a letter to the top four financial institutions saying “Hey, you need to do more to protect your consumers from these types of fraud.” While originating side bank controls are getting better, like the “are you sure” notifications you get ahead of a P2P transaction, controls on the receiving side of the transaction are weak at best meaning the other end of the transaction is a blind spot. Under this new regulatory shift, the receiving bank that supported a fraudulent or money mover account can be held liable for the loss. That will be a massive catalyst for forcing banks to build identity management into a core competency on both sides of the transaction.