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.
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.
The Federal Reserve recently conducted a review of the current cross-border payments landscape to better understand developments and ongoing challenges. Key findings were discussed on a January webinar entitled Go Global: A Review of Progress and Pain in Cross-Border Payments (Off-site), where nearly 700 highly engaged stakeholders attended, demonstrating rich interest in this topic.
By Jim Cunha, Senior Vice President, Federal Reserve Bank of Boston A lively exchange of views – and many questions – were shared during our September webinar with fraud experts from the FBI and Turnkey Risk Solutions (TRS). I encourage you to listen to the archived recording if you missed …
Over 1,000 highly engaged stakeholders participated in a series of webinars to learn more about the Board of Governor’s recent announcement to build and implement the FedNowSM Service – a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality to support faster payments in the United States. …
The time is now for payments stakeholders to recognize what may be the fastest-growing financial crime in the United States: synthetic identity fraud. Financial institutions should take steps to mitigate this type of fraud due to the looming risks and losses caused by synthetic identities, but many may not be …
A workshop on synthetic identity payments fraud was “standing room only” at last fall’s FedPayments Improvement Community Forum. Now, the Federal Reserve has brought the topic to a wider audience with a one-hour webinar. Fraudsters increasingly use synthetic identities to commit payments fraud. A synthetic identity is created by using …
The Federal Reserve hosted a webinar to provide more information about the Fraud Definitions Community Interest Group and the Fraud Definitions Work Group. See the webinar below to learn more about these engagement opportunities and the benefits that may be realized by improving ACH, wire and check fraud data quality …
In November, the Federal Reserve announced the launch of a new membership organization, the U.S. Faster Payments Council (FPC) (Off-site), whose mission is to ensure all Americans can safely and securely pay anyone, anywhere, at any time with near-immediate funds availability. If you’re interested in hearing more about the organization …