Anti-fraud professionals have the opportunity to learn about the FraudClassifier model by reading the March/April issue of Fraud Magazine, published by the Association of Certified Fraud Examiners (ACFE).
Tim Boike, Vice President, Federal Reserve Bank of Chicago, provides updates on the Fed’s collaborative efforts with the payments industry on the FraudClassifier model.
A Federal Reserve-convened focus group of fraud experts is on track to publish an industry-recommended definition of synthetic identity fraud in early 2021.
Introduced by the Federal Reserve in June, the FraudClassifier(SM) model provides an intuitive approach to classifying fraud. Explore our video series below to hear from work group members and the Fed team who helped create the model.
The Federal Reserve is convening a group of experts to create an industry-recommended definition of synthetic identity fraud and a suggested approach for voluntary industry application.
Over the past year, the Federal Reserve has spoken with over 50 industry experts on this topic for its Payments Fraud Insights white paper series. Following the release of the final white paper in this series, the Federal Reserve hosted a webinar to discuss strategies for mitigating synthetic identity payments fraud with two of these experts.
Roy Olsen explains why his financial institution began using the FraudClassifier(SM) model.
The Federal Reserve recently hosted a webinar featuring the FraudClassifier℠ model. The model was developed by the Fraud Definitions Work Group to help address the industrywide challenge of inconsistent classifications for fraud involving ACH, wire or check payments.
Today, the Federal Reserve published our most recent white paper in a series on synthetic identity payments fraud. Over the past year, we’ve spoken with more than 50 industry experts about the growing issue of synthetic identity payments fraud and its impact on the financial services industry.
The Federal Reserve-led Fraud Definitions Work Group has completed its work on a new fraud classification model that enables all payments stakeholders to classify fraud in a simple and similar manner. Their work was previewed at a virtual event held by Nacha this week, and will be published this spring.