Addressing real-time payments fraud requires a combination of techniques—there's no silver bullet—according to the latest Independent Banker magazine.
Details: The article shares that community banks can step up their strategies to address authorized and unauthorized instant payments fraud by:
Putting in place risk assessments for inbound and outgoing transactions.
Continuously monitoring local regulatory actions and mandates.
Developing internal tracking and reporting of authorized push payment fraud to monitor transaction counts and amounts.
Analyzing commercial fraud solutions to determine which ones complement their framework.
More: The October issue of Independent Banker also features articles on successful core conversions, specialized lending, email marketing, and cybersecurity.
Access: The magazine is available on the Independent Banker website and via the digital edition.