Fraud hits home for millions of Americans

In our latest edition of Risky Business, we've highlighted recent stories from across the industry. One concerning trend that each of these articles shares is the pervasive nature of fraud attacks online, among the elderly, and even in the office:

• Engadget has the details on a data dump that includes 2.7 billion records of personal info for people in the US, such as names, Social Security Numbers, potential aliases, and all physical addresses they are known to have lived at.
• Meanwhile, the New York Times dives into the rise of elder fraud abuse while sharing a harrowing story about one particular victim.

We know that those of you working in risk at financial institutions know these challenges all too well. But as the average consumer becomes more and more aware of the risk, it means that organizations with strong fraud prevention measures in place will have that much more of a competitive advantage; and have the opportunity to reassure their customers and members.