Despite the evolution of electronic banking and payment systems, check fraud remains a persistent and costly problem for business owners.
During a six-month period in 2023, FinCEN (Financial Crimes Enforcement Network, a division of the U.S. Treasury) received over 15,000 reports of mail theft-related check fraud totaling over $688 million1. Mitek, ...
During the holiday season, many consumers choose the convenience of doing their shopping online rather than making a trip to brick and mortar retail stores. Although online shopping has its advantages, it can also pose a potential risk for including identity theft and other scams. Identity theft is when a ...
Do you have a home equity line of credit (HELOC) account? If so, it’s imperative that you check the account often to guard against fraud. Scammers can gain access and potentially drain thousands of dollars quickly by stealing identities and fooling lenders. There has been a significant increase in HELOC-related ...
It’s easy to become desensitized to national and international headlines of data breaches when we’ve seen one breach story closely trailing another for years. However, it’s crucial not to let this steady stream of storylines lull you into a false sense of security. Rather than dismissing the latest breach as ...
Every day, a staggering number of individuals, often in the thousands, fall prey to the threat of phishing scams. These scams, which can result in potential losses of hundreds or even thousands of dollars, involve deceptive emails, texts, or calls that appear to be from familiar sources. The goal is ...
New scams are constantly surfacing, affecting individuals and businesses as scammers become more intelligent and innovative. Now that artificial intelligence (AI) has become more prominent in the last few years, scammers have found ways to use AI to scam people out of their money. One such scam, known as “Can ...
Older adults are often targeted for financial exploitation due to their income and accumulated lifelong savings, in addition to the possibility they may face declining cognitive or physical abilities, isolation from family and friends, lack of familiarity or comfort with technology, and reliance on others for their physical well-being, financial ...
Internet Safety Month, observed each June, is a great time to consider how you are securing your family’s safety online.
There are several unique risks associated with children and online safety. When a child is using a computer or mobile device, normal safeguards and security practices may not be sufficient. Children ...
U.S. card skimming has increased by over 500% in the last two years with more than 161,000 compromised cards being impacted. Skimmers are used frequently at ATMs and fuel pumps because of their easy access and large usage. Skimming costs financial institutions and consumers more than $1 billion each year. ...
Today, companies are faced with scams from all fronts, including payroll fraud. Businesses large and small can become targets of this scam. The goal is to have employees’ payroll direct deposits moved to a bank account controlled by the scammer. Social media easily provides enough information about a person’s employment ...
Routing # 071102076NMLS # 411170