Early Warning®

See what all the buzz 🐝 is about! Check out how thousands of banks and credit unions use Early Warning’s predictive models to prevent #fraud and deliver delightful customer experiences with our hive of intelligence 🍯, the National Shared Database℠. https://bit.ly/3yuSK9O

Big data analytics 📊 and cloud computing ☁️ are two hot topics across a variety of industries these days. When it comes to banking compliance the two can be especially powerful, helping financial institutions simultaneously identify risks in real-time while ensuring regulatory compliance. 🔎 This insightful article from Forbes breaks down how banks can enhance risk assessment and fraud detection, as well as enable robust regulatory reporting and predictive compliance management.

A considerable portion of the U.S. population doesn't have fair and affordable access to financial services. In fact, nearly 50 million Americans, disproportionally comprised of poor and minority communities, cannot fully participate in our nation's banking system 🏦 because they don't have credit history. For banks looking to improve financial inclusion, expanding access to credit 💳 is a good place to start. 💡 Dive into our latest blog article to learn more about how FIs can use alternative data sources to do just that: https://lnkd.in/gUgS_F4e

"In a world where the lines between reality and fiction increasingly blur, how can we discern truth from lies? This episode of Nickel & Crime dives into the realm of deepfake technology—a sophisticated tool that manipulates audio 🔉 and video 🎞️ to create alarmingly realistic impersonations. From a deceptive video call that cost a company $25 million, to cunning celebrity-endorsed crypto scams, deepfakes are the new frontier for financial fraudsters aiming to siphon vast sums of money.💰 We explore the minds of criminals by wielding the very tools they use. To demonstrate the ease and effectiveness of this technology, we'll create a deepfake of our own host, Debra Caron 🎧Tune in to Nickel & Crime now: https://lnkd.in/g45wkUNW

The ACH Network has seen impressive growth in recent years, 📈 handling 31.5 billion payments valued at $80.1 trillion in 2023 alone. As usual, financial criminals are paying close attention to banking trends, and they continue to devise new #fraud schemes and scams that target ACH transactions. To help prevent losses from ACH fraud, 💸 Nacha has proposed a series of updates to its rules that will go into effect later this year. 👉 Swipe through for the details on what the rule changes will be and how your FI can prepare. https://lnkd.in/gb3hrCCZ

The days of paying by check for everyday purchases may be numbered. Some major retailers including Target recently announced they’ll soon stop accepting personal checks from customers. While many retailers do still accept checks, overall usage has been on the decline in the U.S. for years, and rising incidents of #CheckFraud are continuing to make consumers shy away from using them. 💡 Check out this recent article from The Associated Press to get all the details: https://lnkd.in/e4Xa2W2z

Zelle is "becoming the dominant way to move money" according to Bank of America Chair and Chief Executive Officer Brian Moynihan. Learn more stats about Zelle usage at Bank of America in their second quarter financial results in this MarketWatch article.

We are proud to be a part of The Aspen Institute Financial Security Program's Task Force for Fraud & Scam Prevention! We'll work with Aspen FSP and other Task Force members to develop a nationwide strategy aimed at helping to prevent fraud and scams.

For most of us, a mobile phone 📱 is one of our most important belongings. It’s almost like a second brain – it's how we connect to work, family and friends, it’s an assistant, a map, a creative tool, and it’s the key to a flood of personal information. If your phone goes missing, it’s annoying, but replaceable. But what if it’s not your phone that goes missing, but your phone number? 🤔 That’s when everything you do online, including banking and investments, can become vulnerable to hackers looking for big payouts. 🎙️ In this episode of Nickel & Crime, we’re telling the story of SIM-swapping: the theft of mobile phone numbers which hold the key to all our data - and for a lot of us, all our money. 🎧Tune in to Nickel & Crime now: A SIM-ple Plan: The Dark Art of SIM Swapping and Cell Phone Hijacking https://spoti.fi/3Wntsn0

Application fraud at financial institutions is being driven by the prevalence of compromised PII – some of which fraudsters are using to mix and match with falsified info to create synthetic identities. 🎭 These fraudulent identities are then used to facilitate a whole host of financial crimes that lead to losses for FIs, like opening accounts to be used by money mules 🫏 or to commit credit card 💳 or loan fraud 💸. We recently partnered with IDC to survey 100 banks and credit unions about the challenges they’re up against when it comes to #SyntheticIdentityFraud, what they’re currently doing to address the issue, and the future countermeasures the industry is looking towards. 📝 Delve into the full report here: https://lnkd.in/gZkMEc3p