Payments fraud is a challenge for all community banks. According to the 2012 Federal Reserve Fraud Survey nearly all community banks (98 percent) report that they have experienced fraud attempts. Few are able to eliminate fraud entirely. A similar percentage of community banks (97 percent) have experienced fraud losses. These percentages are in line with the broader survey’s findings for all financial institutions. Among non-financial institutions surveyed, 54 percent reported no fraud losses, with 77 percent reporting fraud attempts.
Staff Contact: Cary Whaley
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|02/28/2013||ICBA: Survey Finds Community Banks Focused on Reducing Payments Fraud||News Release|
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