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InvestTalk

Fraud Detection: Who Should Cover Scam Losses—Banks or Consumers?

InvestTalk

Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors

News Commentary, Business News, Business, Investing, News, Entrepreneurship

4.41.5K Ratings

🗓️ 24 August 2024

⏱️ 49 minutes

🧾️ Download transcript

Summary

The financial industry grapples with the question of who should bear the cost of scam-induced fraud losses: consumers or banks. Authorized push payment (APP) fraud presents unique challenges for fraud detection systems, as victims unwittingly authorize transactions. Financial institutions are implementing advanced technologies and strategies to combat these scams, while regulators explore new policies to protect consumers and hold banks accountable in the evolving digital banking landscape.

 

Today's Stocks & Topics: SNOW - Snowflake Inc., Market Wrap, SWK - Stanley Black & Decker Inc., BROS - Dutch Bros Inc., Fraud Detection: Who Should Cover Scam Losses—Banks or Consumers?, CELH - Celsius Holdings Inc., Key Benchmark Numbers and Market Comments for: Treasury Yields, Gold, Silver, Oil and Gasoline, Annuities, Fossil Fuel, NEM - Newmont Corp., Deglobalization, REPX - Riley Exploration Permian Inc., JXN- Jackson Financial Inc., GD - General Dynamics Corp.



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Transcript

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0:00.0

At a time when investors are confronted with market volatility and a variety of challenges

0:10.0

fueled by the uncertainty of inflation, unsettled geopolitical tensions, and economic

0:16.1

pressures.

0:17.7

Justin Klein stands ready to take your finance and investment questions and share his unbiased answers.

0:24.0

Invest Talk is made possible by KPP Financial,

0:29.0

a registered investment advisor KPP Financial Financial, Chief Executive Officer,

0:43.2

Financial Advisor, Justin Klein.

0:47.8

Good afternoon fellow investors

0:50.0

and welcome back to the latest edition

0:52.4

of the Invest Talk.

0:54.1

And this is Friday, August 23rd, 2024.

0:58.4

And we are here to close the week strong

1:02.0

and help you become a better investor with that next step in your

1:06.8

journey and that journey is never ending. It's like life right you never hopefully you never satisfied. You're always wanting to push forward, get better at every

1:18.4

endeavor, whether that is your personal, your family life, your career, your health whatever it is I think we all should be

1:27.1

pushing to get better in all of those areas and this is the place to get better when it comes to your money and your investments.

1:35.3

And so that's what we call it Invest Talk.

1:37.1

We talked about a lot on each show and most importantly we answer your questions.

1:43.6

And that's what this show is mainly about.

1:45.6

I have topics that will bring you actionable material that will help you

1:50.0

as an investor. But what's more vital are the calls that you make each and every weekday.

1:56.3

And that is, that's going to be our next goal. So coming up in this hour, we have a lot to unpack to close the week. We had a Jackson Hole speech today and just a lot of market movement.

...

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