This site is a product of the Federal Reserve Banks. Please see Legal Notices, Comment Submission Policy and Privacy Policy. Pages on this site marked (PDF) require the use of the Adobe® Acrobat® Reader® 10 or higher. This site is best viewed using the browsers listed on the Supported Browsers page. Adobe also provides a more accessible download page. Contact our Webmaster with questions and comments. Access this website’s Sitemap.| FedPayments Improvement
[vc_row][vc_column][vc_column_text]Join Federal Reserve Financial Services (FRFS) this fall at upcoming conferences, where industry experts and professionals will be engaging around the momentum for instant and faster payments adoption, fraud trends and latest prevention and mitigation tools and efforts, the value and opportunities of payments standards, and more. Here’s a preview of key events (Off-site). Jack Henry™ Connect: Sept. 8-11, San Diego, CA Jack Henry Connect (Off-site) offer...| FedPayments Improvement
Hear about the evolving fraud landscape, the Federal Reserve's payment security initiatives, as well as tools and resources in this on-demand webinar.| FedPayments Improvement
Explore tools and resources to help drive knowledge about scams and improvements in payment security.| FedPayments Improvement
Explore tools and resources to prevent and detect check fraud.| FedPayments Improvement
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
An industry work group recommends establishing an independent information exchange framework to provide holistic scam intelligence.| FedPayments Improvement
Sharing the latest news, insights and industry trends with the FedPayments Improvement community to promote a faster, safer and more efficient payment system.| FedPayments Improvement
The model’s expanding global adoption represents progress in building a more fraud-aware, resilient and connected payments ecosystem.| FedPayments Improvement
Fraud and scams — including check fraud — continue to be a growing concern. To source the best ideas on how to combat them, the Federal Reserve Board of Governors, the Federal Deposit Insurance Corp. (FDIC) and Office of the Comptroller of the Currency (OCC) are seeking input on potential actions to help mitigate risk of payments and check fraud. Comments must be received within 90 days after the request for comment notice is published in the Federal Register. In its role as a payment sys...| 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
[vc_row][vc_column][vc_column_text]Businesses are actively using instant payments. Nearly two-thirds of U.S. businesses (66%) are likely to use instant payments if offered by their primary financial institution, according to a Federal Reserve Financial Services survey. And when they can do so, they rate their financial institution higher: Businesses that use instant payments reported 10% greater satisfaction with their primary financial institution than businesses that do not. Appetite for gr...| 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
Instant payments are transforming the way money is transferred, enabling consumers and businesses access to funds instantly. Learn about different types of instant payments and leverage their full potential.| 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 ScamClassifier model helps the payments industry classify, report, analyze, and identify scams and attempted scams.| FedPayments Improvement
Standards provide a foundational layer for advancing payment security, efficiency and accessibility. Learn more about setting and adopting industry standards.| FedPayments Improvement
Sign up for the FedPayments Improvement Community to support payments modernization and receive updates on the latest news, industry insights, and events.| FedPayments Improvement
The FraudClassifier model helps organizations better understand and identify fraud in the payments system.| FedPayments Improvement
Find tools and resources to mitigate fraud related to generative AI, which can enable the creation of synthetic identities for social engineering.| FedPayments Improvement
A look back at industry events Federal Reserve Financial Services attended in fall 2024, where representatives discussed timely payments topics and trends.| FedPayments Improvement
At the 2024 Chicago Payments Symposium, attendees discussed work to advance the security and resiliency of global payment infrastructures.| FedPayments Improvement
Addressing inefficiencies in B2B payments like back-office complexity and use of checks can help businesses improve their cash flow and reduce payment risks.| FedPayments Improvement
A new study from the U.S. Faster Payments Council sheds light on the various factors shaping the adoption of instant payments.| FedPayments Improvement
Watch a video about how the FraudClassifier and ScamClassifier models can be used together to help organizations better report and mitigate fraud and scams.| FedPayments Improvement
The evolving consumer experience has led to higher usage of mobile phones, wallets, apps and P2P networks for payments, offering greater choice and speed – but creating a more fragmented payments landscape.| FedPayments Improvement
The E-remittance Exchange Pilot confirmed that an exchange framework supports the sending, receiving and automation of electronic remittance (e-remittance) information, which moves the industry closer to achieving straight-through processing.| FedPayments Improvement
