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Stock impact report

WMass banks on the front line in battling high-tech fraud attempts [Yahoo! Finance]

Western New England Bancorp, Inc. (WNEB) 
Last western new england bancorp, inc. earnings: 4/28 04:10 pm Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/4066200
Company Research Source: Yahoo! Finance
Banks across Western Massachusetts are finding new ways to root out attempted fraud amid a nationwide surge in scams, from AI-powered deepfakes to low-tech check fraud. “AI has changed the game for fraudsters,” said Heather Arbour, vice president and fraud compliance manager at Monson Savings Bank, a community bank founded in 1872. “They can now create highly convincing emails, texts and even voice calls that mimic legitimate businesses or individuals.” In an interview, Ben Wagoner, head of corporate security at Westfield Bank, ran through a list of types of fraud. Phishing occurs when a consumer receives an email from someone masquerading as a bank, utility company or some other official entity. The email might include a link to a webpage, where users are asked to divulge sensitive information — like a Social Security number or a password — that can then be used by a thief to access bank funds. Smishing is a variation of phishing done over text. “In Mass., there was one go Show less Read more
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