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Home » ABA to launch information-sharing exchange to help banks fight fraud – American Banker

ABA to launch information-sharing exchange to help banks fight fraud – American Banker

ABA to launch information-sharing exchange to help banks fight fraud – American Banker

American Bankers Association President and CEO Rob Nichols The American Bankers Association is creating an information-sharing exchange that member banks will be able to use to get the names and account information of suspected scammers almost in real time.The exchange, which has yet to be named, is designed to combat a range of financial crimes from fraud to money-laundering to the financing of terrorism, ABA President and CEO Rob Nichols said Tuesday at the trade group’s financial crimes enforcement conference.”We believe this effort can make a real difference in fighting financial crime,” Nichols said. Combating fraud is an expensive and frustrating challenge… 

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