Risk & Fraud

||Risk & Fraud

Synthetic Identity Fraud Defined – Improving Risk Mitigation for Financial Institutions

By: Jack Lynch, Chief Risk Officer, PSCU, and President, CU Recovery & The Loan Service Center Synthetic identity fraud is reported to be one of the fastest-growing types of financial crimes in the U.S., costing financial institutions billions in losses annually. To help better identify and mitigate this type of fraud, the Federal Reserve recently

Synthetic Identity Fraud Defined – Improving Risk Mitigation for Financial Institutions2021-06-02T10:50:57-04:00

Zero Trust: A Model for Multi-layered Cybersecurity

By: Gene Fredriksen, Security Strategy Consultant I'm sure you have moved to a new town or started a new job at one time or another. At first, you might not have trusted everyone with open arms. Maybe you had to develop trust with people, stores or restaurants in the area, and eventually, you built relationships

Zero Trust: A Model for Multi-layered Cybersecurity2021-04-22T08:37:13-04:00

The Importance of Fraud Text Alerts

By: David Ver Eecke, Fraud Product Strategy, PSCU When it comes to fraud prevention, much focus is placed on the importance of rule strategies, as well as identifying and blocking fraud trends before they impact your financial institution. Fraud fighters rely on the combination of risk scores and data elements to separate fraudulent activity from

The Importance of Fraud Text Alerts2021-05-20T08:34:20-04:00

Holiday Fraud — Expect the Unexpected in 2020

By: David Ver Eecke, Sr. Fraud Product Manager, PSCU 2020 is the year of the unexpected — and this holiday shopping season will be no different. The pandemic has changed our world in so many ways, especially when it comes to how we shop and pay for goods and services. Consumer spending has shifted to

Holiday Fraud — Expect the Unexpected in 20202021-01-08T18:19:23-05:00

Lessons Learned from a True Tale of a Digital Scammer

By: Gene Fredriksen, Security Strategy Consultant In this real-life story, it is 2018 and Kwamaine Ford, an employee of a celebrity at the time, seemed to have the world by the tail. He traveled in famous circles and lived a glamorous lifestyle. However, Ford had a dirty secret – he was funding his lifestyle with

Lessons Learned from a True Tale of a Digital Scammer2021-01-08T18:19:31-05:00

Insights into Combating the Rising Tide of Card-Not-Present Fraud

By: David Ver Eecke, Sr. Fraud Product Manager, PSCU It is no surprise that with consumers using digital payments more than ever before, card-not-present (CNP) fraud losses are starting to add up for merchants. Combined with the wide application of 3D Secure (3Ds) 2.0 for improving security of digital transactions, it is becoming a growing

Insights into Combating the Rising Tide of Card-Not-Present Fraud2021-01-08T18:19:49-05:00

Don’t Get Complacent with COVID-19 Scams

By: Gene Fredriksen, Security Strategy Consultant In a 1948 speech to the House of Commons, Winston Churchill said, “Those who fail to learn from history are condemned to repeat it.” This quote is particularly accurate for those tasked with implementing cybersecurity programs. History has shown that every time there has been a global crisis, scammers

Don’t Get Complacent with COVID-19 Scams2021-01-08T18:19:57-05:00