August 11, 2016
A day does not go by without headlines about financial fraud, whether it’s hackers infiltrating businesses’ computer networks or other types of identity theft. While using chip-enabled credit cards and being wary of phishing scams help protect consumers, hackers are becoming more sophisticated.
“Fraudsters have become so good at finding the cracks in the foundation. It’s like water finding its way through a crack,” says Margaret Paddock, market leader for the Private Client Reserve of U.S. Bank in Minneapolis. “I would say the best offense is a good defense, just because we cannot stop all of the fraud.”