Water Cooler Talk

ABA: Fighting bank scammers requires a collaborative effort

Banks can't win the fight against scammers alone. They need a unified effort between banks, regulators, law enforcement, and other stakeholders, along with consumer education and improved collaboration.

Jenn Day
Feb 1, 2024

Read the original article from ABA here.

Here is a brief summary of the article:

  • Banks can’t win the fight against scammers alone.
  • They need a unified effort between banks, regulators, law enforcement, and other stakeholders.
  • Telecom and social media companies need to close loopholes.
  • Banks need to secure the mail system to fight check fraud.
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