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NewsBriefs

This article contains excerpts from news stories recently posted under conduct sophisticated scams involving money mules who
Breaking Industry News on our homepage. For links to these and other transfer funds away from the FI—funds that are often
full news stories, please visit www.greensheet.com/breakingnews. unrecoverable," he said in a statement.
php.
Fed sets July startup for FedNow
It's official: beginning in July, every federally insured
financial institution in the United States will have access
to the real-time payment network FedNow. The Federal
Reserve heralded the launch of its first new payment
network since the ACH on March 15, 2023. Plans are
to begin a formal certification process for FedNow
NICE Actimize finds huge hike in banking fraud participation in April that includes a testing curriculum.

A new study, published March 9, 2023, by NICE Actimize, A production validation process to confirm readiness will
identified a 92 percent hike in fraud attacks between 2021 begin in June. FedNow joins RTP, a real-time payment
and 2022. Consistent with other industry data, findings network developed by The Clearing House, which is
were based on a $110 trillion trove of anonymized data owned by many of the nation's largest banks. TCH counts
from online and offline payments channels, including
P2P, ACH, wires, checks, and card transactions.
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and experimental first-party and third-party attacks mos t u p-t o-d a t e s t o ri es,
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designed to trick financial institutions into approving
can’t miss events and newest
fraudulent transactions and opening fraudulent accounts, c a n ’ t miss e v e n ts a nd ne w es t
according to Craig Costigan, CEO, NICE Actimize. industry announcements.
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"Fraudsters are leveraging faster payments innovation to
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David Daily
Zach Daily CEO & Founder Alex Daily
Business Development Business Development
Denise Shomo Katelyn Schickling
President Business Development
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