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Articles - 2020

  • Compliance help has arrived. Check out our podcast and hear the scoop about Nacha and Reg E error resolution requirements

    posted by Luann Kohlman, AAP, APRP on Tuesday, December 29, 2020

    60 days from statement date or 60 days from settlement date? Does it sometimes seem like the Nacha operating rules for error resolution of ACH conflict with the Reg E requirements? It can be hard to determine which rules apply and which 60-day rule to follow. Wonder no more.

  • ATM smash and grab prevention tips

    posted by Mike Burke on Thursday, December 17, 2020

    What do ATMs and construction equipment have in common? Unfortunately, a little too much lately. Local, state and federal law enforcement has made SHAZAM aware of ATM thefts occurring across the U.S. The culprits are using construction equipment to rip out ATMs from drive-through or remote ATM locations.

  • Stop the Grinch from stealing your holiday cheer with tips for safe online shopping

    posted by Stephan Thomasee on Tuesday, December 8, 2020

    Many consumers are shifting their holiday shopping online this year due to COVID-19 concerns, and it's the perfect opportunity for the Grinch to steal holiday cheer. This is the season when hackers, scammers and online thieves are poised to steal the personal information of unsuspecting shoppers. A few simple precautions will keep the Grinch at bay and provide a safe online holiday shopping experience.

  • Fraud trends rise as popularity of P2P payment apps increase.

    posted on Wednesday, December 2, 2020

    Peer-to-peer (P2P) payment is an easy way to send funds and, unfortunately, it's a simple way for scammers to collect funds, too. As the use of P2P apps increase, so does fraud. Help keep your cardholders safe this holiday season, and all year long, with some simple payment app tips.

  • Do faster payments mean faster fraud? Not necessarily, with education and awareness.

    posted on Friday, November 13, 2020

    International Fraud Awareness Week shines a spotlight on fraud, allowing us to highlight fraud prevention in the faster payments ecosystem with education and awareness. When we hear “faster payments,” many of us might jump to the idea that it means faster fraud, but that may not necessarily be the case. Understanding the fraud themes and trends we see today can help us better anticipate the trends of tomorrow.

  • COVID-19 circumstances push limits of the Bank Secrecy Act. Let a SHAZAM Secure BSA expert complete your next exam.

    posted by Luann Kohlman, AAP, APRP on Wednesday, November 11, 2020

    The COVID-19 pandemic has increased workloads with the implementation of the coronavirus relief bill (CARES Act), which included stimulus checks, the Paycheck Protection Program (PPP) loan program, and increased unemployment payments. All these things have strained institutions' Bank Secrecy Act (BSA) programs, leaving one to wonder, “Is my institution compliant?” Ahead of your next BSA exam, you may want to enlist the help of a SHAZAM BSA expert.

  • Sophisticated business email compromise scams continue to soar, proving costly to financial institutions.

    posted by Stephan Thomasee on Wednesday, October 28, 2020

    The FBI's Internet Crime Complaint Center (IC3) 2019 Report shows it received 23,775 business email compromise complaints with adjusted losses of over $1.7 billion. One of the most financially damaging online crimes, these email scams are getting more sophisticated every day. Financial institutions are prime targets for cyber criminals, which is why cybersecurity must be a top priority. Let us offer some tips to keep your financial institution and your business accountholders safe.

  • We are all part of IoT, the Internet of Things, but what exactly does that mean?

    posted by Stephan Thomasee on Wednesday, October 21, 2020

    Have you ever thought you may need to protect yourself from your thermostat or medical devices? What? That's crazy, right? Nope. And don't wait until you're a victim of a cybersecurity breach to keep all your devices safe with updates and strong passwords, just like you do for your computer or cell phone.

  • Why should you fear the big, bad dark web? Because it's a cybercrime playground.

    posted by Stephan Thomasee on Wednesday, October 14, 2020

    We've all heard the term dark web, but what is it that hides behind that shroud of mystery? Why's it synonymous with cybercrime and money laundering? Let's take a quick look at the dark web and why you should avoid it.

  • Make cybersecurity a priority to safely navigate social media

    posted by Ben Hayden on Wednesday, October 7, 2020

    Every social media account you sign up for means you are sharing information with the world — and hackers who want to gain access to your social accounts. Keep your institution and accountholders safe by following some simple cybersecurity rules.