Toolkits Expand with New Insights and Resources on Scams and Check Fraud
Recently expanded toolkits on scams and check fraud mitigation are designed to help the payments industry better identify and fight these prevalent types of fraud.
Financial Institutions Can Use Instant Payments to Attract Customers, Improve Satisfaction and Lower Risk of Attrition
A new study from Federal Reserve Financial Services explores key benefits driving faster and instant payment adoption and other trends in the consumer payment space.
Federal Reserve Unveils Two Online Toolkits for Scams and Check Fraud Mitigation
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.
The Federal Reserve’s FraudClassifier Model Marks Five-Year Anniversary
The model’s expanding global adoption represents progress in building a more fraud-aware, resilient and connected payments ecosystem.
Federal Bank Regulatory Agencies Seek Comment to Address Payments and Check Fraud
Three bank regulatory agencies request comment on potential actions to help mitigate risk of payments and check fraud.
Survey: Innovative Use Cases Drive Businesses to Instant Payments
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.
New U.S. Faster Payments Council Study Forecasts Instant Payment Adoption
A new study from the U.S. Faster Payments Council sheds light on the various factors shaping the adoption of instant payments.
Stand up to Scammers with Information Sharing
A new recommendations report encourages the industry to consider creating a solution or establishing an independent information exchange framework for a holistic view of scam intelligence from existing sources across payment rails.
B2B E-remittance Exchange Pilot Complete: Industry One Step Closer to Achieving Straight-Through Processing
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.
Stomp out Scams with the ScamClassifier Model
A Federal Reserve-led industry work group developed the ScamClassifier(SM) model, a voluntary scam classification structure to categorize different scam types more consistently.