Category Blog

One of the most common ways elders experience abuse is through misappropriation of funds.  According to the National Council of Aging, nearly five million older Americans face elder abuse each year, resulting in financial losses of approximately $36.5 billion annually.…

With the rise of mobile technology, enterprises and institutions are rapidly creating mobile apps to enable consumers to conduct e-commerce transactions conveniently and efficiently. From digital payment processing, investing, and money transfers, billions of dollars are exchanged on these mobile-friendly…

The question is a lot easier to answer than “Paper or plastic?” (If you remembered your reusable bag, you deserve a gold star.) When you’re at the checkout line and produce a little rectangular swipe card, the cashier often asks,…

What do the five pillars of the Bank Secrecy Act have to do with a money laundering, aspiring rapper? They crossed paths this year.  Tongue out, hands up in a nearly Star Trekian gesture, Heather Morgan became her alter ego,…

Depending on who you are, the first rule of the Bank Secrecy Act is “don’t talk about the Bank Secrecy Act.” Secrecy is a key feature of the law’s requirement to submit Suspicious Activity Reports in certain cases. In fact,…

Money comes and, sometimes even more quickly, it goes. In today’s expanded age of one-click shopping and in-app purchases, the power to claw back cash is like a magic key for buyers. One such buyer in our orbit lately said…

Once considered unique to each individual, artificial intelligence has shown the human voice to be convincingly cloneable. In banking, this means that voice-based biometric passwords are no longer the fail-proof layer of unhackable authentication bank users hoped they would be.…

Imagine you were put in charge of billions of customer dollars, but you lost them. Congratulations, you are a decision-maker at Silicon Valley Bank. SVB’s inability to manage both interest rate risk and liquidity risk sent them into a painful…

Account takeover, business email compromise, and impersonation fraud. Each of these terms describes a threat to financial institutions described in a joint paper published by Nacha and the Global Resilience Federation. Financial institutions should care because Nacha, or the National…

When you initiate an electronic transaction using the Automated Clearing House (ACH), you assume it’s complete as soon as the information in your electronic system is sent off into the World Wide Web. However, ACH does not guarantee instantaneously settled…