We provide the education that encourages the use of services like home banking, bill pay, eStatements, direct deposit and online account management.   Education empowers the consumer. The better they're educated, the more they realize they can use technology to their advantage and not become a victim.

Increasing awareness will go a long way in reducing these types of fraud:

ACH and Wire Transfer Fraud - Consumers, businesses and institutions alike suffer when fraudsters penetrate and pilfer accounts via hacking into electronic transactions.

ATM Skimming - Experts say this particular form of fraud will continue to grow, as criminals are targeting U.S. financial institutions with technologies shared from Eastern Europe.

Check Fraud - One reason for the continued proliferation of this fraud is that there is easier access to check paper stock and cheaper printers and scanners to create fakes.

Mobile Banking Attacks - Mobile banking fraud is coming. The mobile target will continue to grow and as smart phones become more sophisticated, the number of attacks will grow too.

Web 2.0 and Social Media Attacks - Cyber criminals are lining up their arsenals for attack via Web 2.0 and social media sites. Criminals learn more about their targets and at the same time, deliver malicious content to unsuspecting users.

Variations on Phishing Schemes - There are more insidious types of attacks hitting institutions and their customers now, say experts.

Credit Card & Prepaid Card Fraud - The gift card market has always been a target for criminals say and prepaid cards will continue to be purchased fraudulently with compromised credit cards.

Mobile Phone Fraud - The threat of mobile phone fraud is cause for concern as Trojans can compromise information on the phones which may include online banking account information as well as other data stored on the phone.

Telephone-Based Fraud - As institutions beef up their online security, many fraudsters use stolen credentials and turn to more traditional telephony fraud.

Fraud disrupts business efficiency while exposing your institution to strategic and operational risks.

It's important to keep up-to-date on all of the types of fraud that are out there. The weight of solving the problem will ultimately fall on the banks and credit unions, because the criminals go where the money is. The latest consumer fraud trends suggest that financial institutions must provide increasing leadership in the fight against identity -related fraud.

According to new findings from Javelin Strategy & Research, consumers and law enforcement alike now turn to banks and credit unions for more sophisticated detection and prevention when it comes to the misuse of stolen identities to open new accounts.

As an eFraud Prevention client, you have an online "toolbox" that will provide 24/7 access to our products and support services:

For many years now the federal regulatory agencies have been recommending and stressing the importance of consumer education as it relates to fraud prevention.

Looking at the types of fraud institutions are prepared to face, the greatest resources are focused most on the traditional forms of fraud, as well as those such as anti-money laundering that are reviewed most closely by banking regulators.

Institutions do need to diversify their detection and prevention approaches to include newer forms of fraud such as phishing/vishing, as well as the surge in ACH/wire fraud - corporate account takeover. These crimes clearly are increasing - as is public exposure when these schemes are uncovered. eFraud Prevention's employee and consumer awareness programs help to improve preparation to minimize risk exposure. 

As an eFraud Prevention client, you have an online "toolbox" that will provide 24/7 access to our products and support services:

eFraud Prevention™ provides a vast amount of relevant information for marketing managers to utilize for lobby handouts, web site content, brochures, newsletters, e-news, blogs and social social networking sites.

Trust is the most important element of the banking relationship, and if that trust is damaged by a fraud incident and subsequent publicity, consumers are likely to take their business elsewhere. This potential customer or member churn now is a significant and growing part of the equation when considering fraud losses.

To retain valuable customers or members and accounts, institutions must reduce the risk of fraud by investing more in detection and prevention - and then make customers and members aware of those extra investments. Security no longer should be considered a corporate secret; it's a competitive advantage to be marketed.

Education empowers the consumer. The better they're educated, the more they realize they can use technology to their advantage and not become a victim. We provide the education that encourages the use of services like home banking, bill pay, eStatements, direct deposit and online account management.

As an eFraud Prevention client, you have an online "toolbox" that will provide 24/7 access to our products and support services:

As your institution plans its technology investments, fraud detection must be high upon the list.

In some cases this means investing in new intrusion detection systems; in others it means bridging organizational silos to leverage information that has already been mined. In all cases, it means improving your institution's odds of detecting a fraud threat before it reaches the consumer.

By improving your consumer and employee awareness programs while simultaneously lowering your cost, you can better use your existing resources (budget and/or personnel) for new personnel, fraud detection tools & technologies.

As an eFraud Prevention client, you have an online "toolbox" that will provide 24/7 access to our products and support services:

In 2010, 76% of fraud incidents were discovered by consumers.

The results of industry surveys reveal that almost 70% of banks and credit unions do feel they need to improve their consumer awareness programs. On average the majority of respondents feel that consumer education is the best way to prevent fraud. What is encouraging is that 63% plan to invest in awareness initiatives in the near future.

Education empowers the consumer. The better they're educated, the more they realize they can use technology to their advantage and not become a victim.

We provide the education that encourages the use of services like home banking, bill pay, eStatements, direct deposit and online account management.

Fraud prevention is a vast, complex and evolving field which requires specialization.

As new threats evolve and solutions are introduced, knowledge of such information is absolutely critical. To stay ahead of the curve, your staff must have continued education of all fraud risks.

Before your staff can properly help consumers address their identity theft challenges, they must be aware of and understand the latest identity protection solutions and best practices.

As an eFraud Prevention client, you have an online "toolbox" that will provide 24/7 access to our products and support services: