3 Smart Bank Strategies to Stop Scams By Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch 3 Smart Strategies to Stop Scams That Don’t Break the Bank In the first part of this blog series on financial scams, Dr. Tim McGuinness and Debby Montgomery Johnson (also a scam victim herself), Board Directors at the Society of Citizens Against Relationship Scams (SCARS) talked about how to interact with potential scam victims once there was a potential scam transaction alert. In this article, we will look at some specific initiatives Read More ...

Bank Customer Interventions By Ken Palla, Retired Director, MUFG Union Bank – Courtesy of BioCatch You Have a Customer Scam Alert, Now What? Recently, many of the more technically advanced financial institutions have worked to develop anomaly detection capabilities to detect financial scams (authorized transactions initiated by the real customer). These scams are inherently difficult to detect as it is the real customer doing the transaction. Legacy controls, such as known IP address, device fingerprint, and mobile phone location, all indicate that the real customer is doing the transaction. Some financial institutions, working Read More ...