Ben Chance of Early Warning Services, the bank‑owned company that provides fraud detection services and operates the Zelle network, joins host Paul Benda on this edition of the ABA Fraudcast to talk about not just the very recent history of fraudsters targeting banks and consumers, but how fraud fighters are learning to fight effectively.

ABA offers resources to help banks prevent, identify, measure and report fraud, and to serve and protect consumers.

Follow the ABA Fraudcast at the ABA Banking Journal, Apple Podcasts, Spotify or other podcast apps.

Host of the ABA Fraudcast is Paul Benda, EVP, risk, fraud and cybersecurity at American Bankers Association.

On the latest episode of the ABA Fraudcast — a crossover episode with the ABA Banking Journal Podcast — ABA's Rob Nichols and Paul Benda provide several updates on ABA's work to reduce the incidence and cost of fraud for bank customers. Among other topics, they highlight:

• Their recent participation in the United Nations and Interpol Global Fraud Summit. "O

Paul Benda's guest on this episode of the ABA Fraudcast describes how social media platforms are capable of stopping use of their sites to host large-scale scams but do not do so because of weak incentives, limited liability and, as recent reporting has revealed, a reluctance to disable an enormously successful business.

"This is an incredibly lucrative industry," says Katie Paul, from the Tech Transparency Project. Social media platforms are "completely capable" of addressing these issues, she adds, and describes how the banking industry can take steps to protect itself and its customers.

More information from ABA for banks about the recently introduced SCAM Act is here and here. ABA offers resources to help banks prevent, identify, measure and report fraud, and to serve and protect consumers and their financial data..

Follow the ABA Fraudcast on Apple Podcasts, Spotify or other podcast apps. If the player above is not visible, listen to this episode here.

Host of the ABA Fraudcast is Paul Benda, EVP, risk, fraud and cybersecurity at American Bankers Association.