Newly released toolkits on scams and check fraud mitigation support education and increase awareness, enabling the payments industry to better identify and fight these prevalent forms of fraud.| FedPayments Improvement
The model’s expanding global adoption represents progress in building a more fraud-aware, resilient and connected payments ecosystem.| FedPayments Improvement
One year in, user feedback shows the ScamClassifier(SM) model is a powerful tool for fraud prevention across the payments ecosystem, driving targeted detection, better internal education and smarter scam response.| FedPayments Improvement
To better understand and mitigate scams, the Federal Reserve's scams definition and classification work group has published an operational definition of the term.| FedPayments Improvement
The Federal Reserve engaged on innovations and trends that are transforming the payments industry this spring.| FedPayments Improvement
Individuals can be deceived or manipulated with fraudulent check deposits. Learn how these schemes work and how to detect check scams using the ScamClassifier(SM) and FraudClassifier(SM) models.| FedPayments Improvement
Learn how fraudsters target unsuspecting victims through relationship and trust scams to carry out check fraud – and how the ScamClassifier(SM) model can be leveraged for more robust prevention and customer education.| FedPayments Improvement
Fraudsters often leverage fraudulent paper checks to help perpetrate scams. Learn how the ScamClassifier(SM) model can assist in identifying the root cause of the fraud that occurred due to a scam.| FedPayments Improvement
The FraudClassifier model helps organizations better understand and identify fraud in the payments system.| FedPayments Improvement
At the 2024 Chicago Payments Symposium, attendees discussed work to advance the security and resiliency of global payment infrastructures.| FedPayments Improvement