Affiliations & Partnerships
We are the financial industry's leading consumer fraud prevention awareness platform.
Schedule a phone call
P.O. Box 832Southbury, CT 06488 - USA
Fraud Headlines & Alerts
Fraud Awareness Portal
Help & Victim Assistance
Resources For Businesses
Recent Fraud Statistics
Outlook & Predictions
With fraud and scams increasing at record levels in 2021, the U.S. Government stepped in with the CFPB releasing updates on electronic funds transfers, that clarified their position that more consumers needed to be reimbursed for scams. It marked the beginning of the end where financial institutions can hold consumers liable for all scams.
Regulation E sets forth the conditions in which consumers may be held liable for unauthorized transfers, and its commentary expressly states that negligence by the consumer cannot be used as the basis for imposing greater liability than is permissible under Regulation E. 12 CFR 1005.6; Comment 6(b)-2. For example, consumer behavior that may constitute negligence under state law, such as situations where the consumer wrote the PIN on a debit card or on a piece of paper kept with the card, does not affect the consumer's liability for unauthorized transfers under Regulation E. Comment 1005.6(b)-2.
Most Current Regulation
Electronic Fund Transfer Act (EFTA) and Regulation E FAQs
More Industry Insight
2022 fraud predictions.
Is fraud awareness something you want to keep managing?
How to remain consistent with your fraud awareness messaging.
Commercial account support will be critical in 2022.
FINRA regulatory notice 21-18.
The rise of the fraud bots.