Federal Reserve Financial Services (FRFS), as both a payments operator and industry leader/catalyst, offers research, education and a range of tools to support financial institutions in their fraud and risk mitigation efforts. The Scams Mitigation Toolkit is a resource to help drive knowledge about scams and improvements in payment security.
In today’s hyper-connected world, scams are more than an occasional occurrence. They are a growing, evolving threat that impacts individuals, businesses and entire economies. From phishing emails to deepfake videos, scams are becoming more sophisticated, more targeted and more dangerous.
Fighting This Complex and Pressing Challenge
Combating scams starts with all of us. By gaining a better understanding of scams, you can become more vigilant, identify potential scam indicators, stop fraudulent transactions, and better protect your customers and your organization.
Explore the toolkit modules below for resources to help prevent and detect scams.
The scams mitigation toolkit was developed by the Federal Reserve to help educate the industry about scams and outline potential ways to help detect and mitigate this fraud type. Insights for this toolkit were provided through interviews with industry experts, publicly available research, and team member expertise. This toolkit is not intended to result in any regulatory or reporting requirements, imply any liabilities for fraud loss, or confer any legal status, legal definitions, or legal rights or responsibilities. While use of this toolkit throughout the industry is encouraged, utilization of the toolkit is voluntary at the discretion of each individual entity. Absent written consent, this toolkit may not be used in a manner that suggests the Federal Reserve endorses a third-party product or service.