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Preventing Fraud in Digital Channels

Preventing Fraud in Digital Channels

By Eltropy
May 13, 2024

Financial institutions (FI) and their consumers face a growing volume of fraud attacks each year. According to this FTC report, consumers lost over $5.8 billion in 2021, up 70% over 2020. While there are many types of frauds FIs have to deal with, the ones that are within the scope of this white paper include the two most common around digital communication:

  • Member Phishing Scams
  • Inbound Contact Center Scams

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About Eltropy

Eltropy is the leading digital conversations platform for community financial institutions (CFIs). Its AI-driven communication tools empower CFIs to communicate, automate, improve operations and engagement, and increase productivity across the institution – all while maintaining the highest standards of security and compliance. Using Eltropy's platform, CFIs can connect with their consumers anytime, anywhere via text, video, secure chat, co-browsing, screen sharing, and chatbot technology – all integrated into a single platform.