Payments fraud is not only becoming more frequent, it’s also resulting in greater financial losses and more sophisticated attacks. To help the payments industry keep pace with the evolving fraud landscape and better identify and fight fraud and scams, the Federal Reserve has released an Account Takeover Fraud Mitigation Toolkit and has made substantial additions to two existing toolkits: the Scams Mitigation Toolkit and Check Fraud Mitigation Toolkit. These toolkits complement its Synthetic Identity Fraud Mitigation Toolkit. 

The Account Takeover Fraud Mitigation Toolkit describes account takeover fraud and how it happens. A second release that explores prevention, detection and real-life scenarios will be launched later this year. This spring’s enhancements to the Scams Mitigation and Check Fraud Mitigation toolkits include a robust selection of new downloadable resources and three new interactive “Test Your Knowledge” sections.

Click Read More below for additional details and to access the toolkits.