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.
Surveys: Businesses and Consumers Adopting Faster/Instant Payments to Suit Their Preferences
Use of digital, faster and instant payment services is on the rise among businesses and consumers according to new surveys from Federal Reserve Financial Services. A robust 86% of businesses and 74% of consumers said they used faster or instant payments in the past 12 months, and most (74% of …
Announcements, Around the Fed, Cross-Border Payments, Event Summaries, Faster Payments, Payments Efficiency, Payments Security
Accelerating Innovation and Inclusion: 2023 Chicago Payments Symposium
Leaders from across the industry gathered at this annual event for insightful discussions on global payments, instant payments, innovation, digital currency, security and risk management, and more.
E-remittance Exchange Pilot: Payments Industry Joins Forces to Improve B2B Payments
The Business Payments Coalition with support from the Federal Reserve, has launched an E-remittance Exchange Pilot. Pilot participants are testing an electronic delivery network – known as an exchange framework ecosystem – that will enable all kinds of businesses to exchange electronic remittance information.
Defined Scams to Fight Scams
To better understand and mitigate scams, the Federal Reserve’s scams definition and classification work group has published an operational definition of the term.
B2B Payments Experts Launch Digital Business Networks Alliance
Participants of the Business Payments Coalition’s E-invoice Exchange Market Pilot recently formed the Digital Business Networks Alliance as the legal entity overseeing a new electronic exchange network.
Synthetic Identity Fraud Mitigation: Learn More About Service Providers
The Federal Reserve continues to expand its Synthetic Identity Fraud Mitigation Toolkit with new information on providers of synthetic identity fraud mitigation products and services.
Federal Reserve Study Sheds Light on Rising Consumer Demand for Faster Payments
A Federal Reserve survey of over 2,000 consumers found that more than six in 10 plan to use faster payments more in the future.
Advancing Synthetic Identity Fraud Mitigation with Technology, Data and Information Sharing
The most recent additions to the Federal Reserve’s Synthetic Identity Fraud Mitigation Toolkit offer new information about fraud detection technology, data sharing and the value of fraud information sharing within the industry to help fight synthetic identity fraud.
Expanding the Synthetic Identity Fraud Mitigation Toolkit
The latest release of the Federal Reserve’s Synthetic Identity Fraud Mitigation Toolkit includes tools to help differentiate real customers from synthetics using identity validation tools and alternative data, and resources on how to identify synthetics at different stages of the relationship.