Title:Federal Reserve Announces New Real-time Payment Service
Summary:Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow℠ Service, to support faster payments in the United States. The rapid evolution of technology presents a pivotal opportunity for the Federal Reserve and the payment industry to modernize the nation's payment system and establish a safe and efficient foundation for the future.
PublishDate:8/6/2019 12:00:00 AM
Title:Synthetic Identity Fraud in the U.S. Payment System
Summary:Synthetic identities can be used to deceive government or corporate systems into thinking they are real people – creating far-reaching impacts on the U.S. financial system, healthcare industry, government entities and individual consumers. While synthetic identities are sometimes used without criminal intent, there are serious consequences when criminals use them to steal funds.
PublishDate:7/11/2019 12:00:00 AM