Patelco Credit Union Faces More Blowback from Ransomware Attack
The fallout from last summer’s ransomware attack on California’s Patelco Credit Union continues. State regulators have fined Patelco $100,000 and ...
Tag: First-party Fraud
Explore how first-party fraud affects payments and banking when consumers dispute legitimate transactions, default strategically, or misuse chargeback rights, increasing losses and compliance pressures.
How Consumers Justify Friendly Fraud
Friendly fraud results in losses to retailers of more than $100 billion a year. However, most people who commit this ...
How Financial Institutions Are Fighting Friendly Fraud
Last year’s TikTok-fueled spate of check fraud—allegedly taking advantage of a glitch at Chase Bank—was among the most widely publicized ...
New Tools for Limiting a Bank’s Exposure to Fraud
Banks allocate significant resources to fighting fraud, both in prevention and in maintaining reserves for potential losses. No matter how ...
Why Does Gen Z Commit So Much Fraud?
The rate of fraud committed by Gen Z is higher than other generations. Gen Z is the most likely generation ...
Fighting Financial Fraud When the Bad Guys Are Armed With AI
As fraud related to artificial intelligence (AI) becomes increasingly sophisticated and accessible, many legacy lines of defense are no longer ...
Outsmarting First-Party Fraud with a More Proactive Solution
The term “fraud” has become a catch-all for some financial institutions, which sometimes downplay these occurrences as mere nuisances rather ...
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