Individuals can open, fund and send money from an account without ever leaving their premises. This first article in a series examines the lifecycle and methods of online identity verification and authentication.
The Federal Reserve’s longstanding commitment to combat fraud and build awareness includes providing education on trends and improving the security of all payment types, including check payments.
The Federal Reserve has established a scams definition and classification work group. Learn about the group and its goals.
Scams have become increasingly prevalent, but there are ways to prevent them and mitigate losses. Read more about how to stay protected from this type of fraudulent activity.
Scams are a growing area of fraudulent activity that can happen to anyone. Learn about common types of scams and the ways that fraudsters attempt to deceive their victims.
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.
The July/August issue of Fraud Magazine, published by the Association of Certified Fraud Examiners (ACFE), features an article co-authored by experts from Federal Reserve Financial Services on how to more effectively fight synthetic identities used for fraud involving payments.
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.
The FraudClassifier(SM) model was released in June 2020 to help organizations speak the same fraud language and obtain a holistic picture of fraud involving payments. Explore a new video for a comprehensive overview of the model, including a step-by-step walk-through of its classification paths and supporting definitions.
The Federal Reserve has published the third and final research brief in a series on remote authentication fraud. This brief focuses on ways the Fed and industry can work together to improve fraud mitigation, build awareness and engage industry stakeholders.