SHAZAM Blog

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

    posted by Kasie Nitzel 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.

  • Proactively manage the impact of debit card fraud with SHAZAM Fraud Advisors

    posted by Stephan Thomasee on Tuesday, November 3, 2020

    With fraud on the rise, it continues to be a major pain point for community financial institutions. Sadly, nearly every dollar of fraud can cost your institution roughly $2.92. SHAZAM never loses sight of what's important when it comes to fighting fraud, and that's the well-being of you — our clients — and your cardholders. Let us help you fight fraudsters with our newest service: Fraud Advisors™.

  • 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.

  • October is Cybersecurity Awareness Month. Let's talk about risk.

    posted by Stephan Thomasee on Wednesday, September 30, 2020

    There is one risk in banking that doesn't get as much attention as it deserves and has the potential to cripple your organization: cybersecurity. Cybersecurity is the focus of all SHAZAM blogs in October, so stay tuned for information to help keep your institution and accountholders safe!

  • Beware of package pending spam text messages. Scammers are sneakier than ever!

    posted by Mike Burke on Wednesday, September 23, 2020

    Fraudsters are at it again with a new “package pending” text message scam that aims to steal your identity, empty your bank account or install malware on your phone. The text claims a package is waiting for you to pick up and offers a link to click for more information. Warn your cardholders not to fall for it. Let us tell you why.

  • 2-part series: If you pay, they will continue to prey. Part 2

    posted by Mike Burke on Wednesday, September 16, 2020

    Currently, there are a few popular scams targeting and bilking the elderly out of significant amounts of money. This is a two-part series on elder fraud. Part 2 today highlights timeshare resale fraud. Last week, Part 1 addressed the old and reincarnated Publishers Clearing House scam. Feel free to repurpose this information to help keep your accountholders safe. If you haven't already, subscribe to our blog for timely and insightful articles of interest.