Early Warning®

It’s the most wonderful time of the year, and for financial criminals, that’s doubly so. In a season when everyone is at their most generous (and their most stressed) now is one of the best times for scammers to scam. That’s why on this special holiday episode of Nickel & Crime, we’re sharing everything you need to know about some typical holiday scams, and how to avoid them. We want you to be merry, but be wary. 🎧Tune in to Nickel & Crime now: https://lnkd.in/gBAi72e6

While consortia provide a formidable first layer of defense against fraud, it’s important that we don’t rely on just one single consortium, technology, or technique as the end all, be all. There is no single solution today that can do it all so it's important to take a multifaceted approach to attacking fraud. Our Chief Fraud Risk Management Officer and General Manager of Identity and Payments, Ben Chance, was recently featured on About Fraud where he discusses the value of taking a community approach to fraud prevention – one that layers predictive intelligence and consortium data with public and private partnerships with the government, law enforcement, and consumers. Keep reading to get his take and learn how we can all get involved in taking down fraud. https://lnkd.in/ddvw82zW

The financial fraud landscape continues to evolve faster than ever, characterized by a complex interplay of traditional and tech-driven threats from increasingly sophisticated fraudsters. To get a pulse on the current state of financial fraud prevention, we commissioned Datos Insights to conduct a groundbreaking survey of 75 fraud execs from banks and credit unions. Check out the findings below and explore the full report to learn about: ✔️ Today’s most prevalent fraud attack types and trends ✔️ The most concerning fraud threats of the future ✔️ Where FIs are investing in fraud prevention Read the report here! https://lnkd.in/gg3_SHJ9

Join us tomorrow for a live discussion about fraud.🏦 We’ll examine the latest fraud schemes affecting banks and credit unions, cover fraud fighters’ biggest concerns and share practical insights💡you can use to protect your FI. 🟢 Save your spot! https://bit.ly/3VHZ0U7

Financial fraud is transforming faster than ever with increasingly sophisticated fraudsters driving a complex interplay of traditional and tech-driven schemes. Join Vishlesha Patil from Early Warning, Jim Mortensen from Datos Insights, and Christy Lillie from JPMorganChase to explore how fraud is evolving in the digital banking environment and how your FI can stay one step ahead. ✅ REGISTER NOW! https://bit.ly/3VHZ0U7 In this live discussion and Q&A, we’ll dive into 🚨 Emerging threats and trends driving fraud in digital channels ⚖️ How to balance prevention with customer experience 🛡️ Actionable insights and solutions on how to combat fraud effectively

While #CheckFraud is an age-old threat, its recent resurgence is impacting banks, credit unions and consumers at record rates.📈 Check out these four check fraud prevention best practices to help protect your customers, your employees and your bottom line 🔒. Get the guide for a deeper dive. ✔️ Encourage electronic payment methods. Promoting the adoption of electronic payment options—and thereby reducing check usage—is perhaps the most straightforward way to prevent check fraud. ✔️ Pool your data. Many check fraud scams rely on depositing checks originating from different banks. Consortia and/or bank-contributed data provides valuable information for assessing risk and detecting potential fraudulent transactions effectively. ✔️ Monitor, classify and analyze losses. To outpace fraudsters, you must identify their trends and tactics—then proactively counter them. Modern solutions that combine real-time monitoring with advanced analytics can help you detect and prevent check fraud. ✔️ Educate your employees and customers. Communicate regularly with customers and staff about trending check fraud tactics and how to stay vigilant. https://bit.ly/4fECAeg

Many FIs rely on tools that use consumer data 📊 to inform risk assessments - and although such tools are valuable, they can add another layer of complexity. When consumer data comes into play, FIs need to make sure they're managing the data responsibly, in compliance with the Fair Credit Reporting Act (FCRA). 📝 So, what is the FCRA? When can your FI use a non-FCRA vs. an FCRA risk assessment solution? And what are the benefits? 🤔 💡Swipe through for the answers to all this and more and read our recent blog for the full breakdown. https://lnkd.in/gg6YfV7m

Synthetic identity fraud has seen a sharp increase in recent years with losses expected to surpass $23 billion by 2030. Fraudsters are flocking to it because… 🚧 It has a low barrier to entry ⚠️ It’s difficult to detect 💰 The average payoff is upwards of $81,000 Without the right tools, it’s uniquely hard to catch. Criminals act like regular consumers and don’t raise red flags — until it’s too late. 💡 Explore our most recent guide for three great ways to prevent losses from synthetic identity fraud. https://lnkd.in/gVSjDF3U

Did you catch 🏈 the October webinar covering Nacha’s latest rules changes? Industry experts from Early Warning and Nacha walk through a real-life use case to illustrate each party’s obligations under the new rules changes. You can still access this super-informative💡webinar here! https://bit.ly/3Z7AVYA

Effectively fighting fraud today requires a community approach 🤝– one that includes leveraging technology as well as collaboration between financial institutions, fintechs, the government, law enforcement, regulatory agencies, and the public. 🔍 Check out the latest article featured on About Fraud from our Chief Fraud Risk Management Officer Ben Chance, as he discusses the importance of taking a multi-pronged, community approach to fraud prevention.