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Check Fraud on Pace for Record Year – Consider Electronic Payments

Thru October, depository institutions (mainly banks) filed 440,000 suspicious activity reports (SARs) related to check fraud according to the Financial Crimes Enforcement Network or FINCEN. Last year, for the same period, that number was 420,000. This puts us on track for 500,000 reports for the year, which is double the number from 2021. To help […]

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The Next Frontier in Fraud – But Not The Last

Zelle is one of the most recent incarnations in peer to peer payments. Peer to peer payments are ones that allow you to directly transfer money from one person’s bank account (the sender) to another’s (the receiver). Competitors to Zelle include PayPal, Venmo, Popmoney and CashApp. The difference with Zelle is that it is owned […]

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Security News for the Week Ending November 26, 2021

Tesla Locks Owners Out of Cars – On Accident Hundreds of Tesla owners got locked out of their cars when a server that powers the Tesla app crashed due to load. Apparently those owners forgot there is such a thing as a car key. The outage lasted about 5 hours and Elon Musk later tweeted […]

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