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20 Results from /security, "Federal Reserve Board"

/security

Fed asks for comments on potential acttions to reverse payments fraud

The federal bank regulatory agencies today announced a request for comment on potential actions to help consumers, businesses, and financial institutions mitigate risk of payments fraud, with a particular focus on check fraud.

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Fed working group issues scam definition

The year-over-year losses from scams continue to rise. In 2022, the Federal Trade Commission (Off-site) reported $8.8 billion in losses from scam activity, a 30% increase from the previous year.

/security

Fed defines synthetic identity fraud

Synthetic identity fraud is reported to be the fastest-growing type of financial crime (Off-site) in the United States, accounting for billions in losses annually.

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US bank regulators propose cyber-security rule requiring prompt notification of a breach

Federal financial regulatory agencies today announced a proposal that would require supervised banking organizations to promptly notify their primary federal regulator in the event of a computer security incident.

/security

Federal Reserve issues white paper on ways to combat synthetic identity fraud

The Federal Reserve today released the latest in a series of publications about synthetic identity fraud – a white paper titled Mitigating Synthetic Identity Fraud in the U.S. Payment System.

/security

Fed publishes FraudClassifier model

The Federal Reserve today published the FraudClassifier model – a set of tools and materials to help provide a consistent way to classify and better understand the magnitude of fraudulent activity and how it occurs across the payments industry.

/security

Fed paper examines synthetic identity payments fraud

Synthetic identity payments fraud is a fast-growing but little-understood problem that affects individuals, financial institutions, government agencies, and private industry.

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Federal Reserve names members of fraud definitions working group

The Federal Reserve today announced the members of its Fraud Definitions Work Group, the latest initiative to advance the Federal Reserve's strategy for improving the U.S. payment system.

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Fed study finds rising noncash payments fraud

The value of fraudulent noncash payments in the United States rose significantly between 2012 and 2015--outpacing growth in noncash payments overall, according to a new report based on Federal Reserve Payments Study data.

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Fed's Secure Payments Task Force concludes

The Secure Payments Task Force will conclude its efforts in March with a final publication consisting of a collection of educational materials outlining the lifecycles and security profiles of today's primary payment methods, the Federal Reserve announced on Thursday.

/security

Federal Reserve System appoints new payments security strategy leader

The Federal Reserve System today announced the appointment of its payments security strategy leader, Kenneth Montgomery, the first vice president and chief operating officer of the Federal Reserve Bank of Boston.

/security

Fed names Kenneth Montgomery payments security strategy leader

The Federal Reserve System today announced the appointment of its payments security strategy leader, Kenneth Montgomery, the first vice president and chief operating officer of the Federal Reserve Bank of Boston.

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