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Credit Unions, CUSOs Fighting Fraudsters

PYMNTS

” Phishing, Smishing and the Value of Education . The April Credit Union Tracker® details much of this nefarious activity – a most valuable read on those merits alone – and we learn about “…clone phishing, spear phishing, smishing and other specialized types of phishing.

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Despite Knowing Risks, Brits Continue to Expose Themselves to Cybercriminals Finds IDnow

The Fintech Times

However, the survey found that less than a third (31 per cent) of Britons know what deepfake documents are and are aware of the potential risks posed by digitally generated images of physical documents. The post Despite Knowing Risks, Brits Continue to Expose Themselves to Cybercriminals Finds IDnow appeared first on The Fintech Times.

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Deep Dive: Emerging Security Threats Facing The CU Space And How Data Analytics Can Help

PYMNTS

Cybercriminals are also developing a variety of threats including clone phishing, spear phishing, smishing and other specialized types of phishing. Savvy risk management thus begins with determining how data can be used to sooner identify and act on fraud. Phishing attacks can also target CU employees.

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US Card Skimming Grew Nearly 5x in 2022, New FICO Data Shows

FICO

With geographically specific strategies, issuers can define and implement rules that address the increased risk in distinct locations, or establish limits on transaction amounts in areas where skimming incidents are higher. Knowing where skimmers are most prevalent is also a powerful piece of knowledge.

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To Stop Scams, It’s Time to Add Sensible Friction to Easy Money

FICO

They use sketchy providers who don’t normally work with law enforcement and then phish, smish, email, and robocall the heck out of people. Putting some sensible friction into high-risk payments, or when customer behavior is different from the norm, can help improve both fraud losses and customer experience. TJ holds a B.S.

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ASIC Sues HSBC Australia Over Scam Failures Leading to A$23 Million in Losses

Fintech News

The scams often involved fraudsters impersonating HSBC staff to gain access to customer accounts, frequently through smishing attacks that tricked customers into revealing sensitive information. A significant portionnearly A$16 millionwas lost between October 2023 and March 2024.

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