Bankloch

Payment fraud (i.e. the unauthorized or deceptive use of stolen payment information to obtain money, goods, or services) remains a major challenge for financial institutions. With new regulations requiring banks to compensate fraud victims, fraud prevention has become a top priority. However, fraud techniques are evolving rapidly, often outpacing even the most diligent security measures. This blog explores the types of financial fraud and the strategies institutions use to protect customers. In this article, we categorize payment fraud into six primary types and discuss the tactics behind each. Account Takeover and Identity Theft : Fraudsters gain unauthorized access to a customer’s account and initiate transactions under the customer’s identity. Authorized Push Payment (APP) Fraud : Customers unknowingly authorize payments to fraudsters. Deposit Scams : Fraudsters trick customers into believing they have received a legitimate deposit. Internal Fraud : Employees manipulate or intercept...

A few weeks ago, my LinkedIn feed was flooded with opinions on Jaguar’s rebranding. Faced with declining sales, the iconic automaker decided to reinvent itself with a radical new identity: a sleek, modern logo without the signature jaguar, an audacious pink color palette and advertisements aimed at younger, diverse audiences. While I am neither a marketing expert nor a car specialist, I can appreciate that this move is undeniably bold—a clear departure from Jaguar’s rich heritage. But is it really as groundbreaking as it seems? When you examine Jaguar’s approach more closely, you realize it aligns with a broader trend across industries. For years, companies have been moving toward simpler, flatter, and more versatile logos optimized for digital mediums. A clean logo scales better across varying screen sizes and looks sharp even on smaller devices, making it a practical choice in our mobile-first world. Additionally, such logos take up less storage space, which is relevant for companies...

Central banks dominate headlines worldwide as they exercise immense influence over the global economy. Using various monetary tools — such as adjusting interest rates, conducting open market operations or employing quantitative easing — central banks aim to steer their economies toward stability and growth. Despite their critical role, many remain unaware of the fundamental functions and complexities of these institutions. Central banks , often known as Reserve Banks, National Banks, or Monetary Authorities, form the bedrock of a nation’s financial system. These public institutions manage a country’s currency, money supply and monetary policy to ensure economic stability and public confidence in the financial system. Unlike commercial banks, central banks hold a monopoly on modifying the monetary base, giving them unparalleled authority to shape the financial landscape. Beyond monetary policy, central banks supervise and regulate financial institutions to maintain system stability, pre...