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Despite advancements in AI for transaction monitoring, financial institutions share little in the way of fraud data, undermining efforts to combat crimes including check fraud.
By Carter PapeApril 2 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
By Carter PapeMarch 27 -
Preliminary rulings by a Pennsylvania judge will allow a jewelry company that claimed it lost $1.1 million to fraud to move forward with suing individual bank employees.
By Carter PapeMarch 26 -
A recent survey showed a majority of banks use generative AI, mainly for tasks like writing emails and detecting fraud, but few say they have built customer-facing products with it.
By Carter PapeMarch 21 -
In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.
By Carter PapeMarch 20 -
Proposed legislation to force Bytedance to sell its U.S. operations of TikTok raises national security concerns and potential retaliation from Beijing.
By Carter PapeMarch 15 -
MoneyLion saw continued financial growth in 2023, achieving four straight quarters of positive earnings. In 2024, it plans to develop a partnership with EY to bolster its enterprise services.
By Carter PapeMarch 7 -
The fintech has grown its way into the black for the first time since going public in January 2022, CEO Jason Wilk says, capitalizing on AI-underwritten cash advances of up to $500.
By Carter PapeMarch 5 -
A consortium of banks focused on cybersecurity has published a series of white papers aimed at navigating the challenges and opportunities of AI in the financial sector.
By Carter PapeFebruary 29 -
Version 2.0 of the Cybersecurity Framework, often cited by financial regulators, provides a structured approach to enhancing an institution's cybersecurity.
By Carter PapeFebruary 26