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"American banks have significantly strengthened their measures against scammers, employing advanced security protocols, sophisticated fraud detection systems, and increased cooperation with regulatory bodies to protect their clients' financial interests."
- Banks have adopted multi-factor authentication and biometric verification to prevent unauthorized access.
- Utilizing AI and machine learning to identify and mitigate suspicious activities in real-time.
Source: American Bankers Association
- Close collaboration with federal agencies such as the Federal Trade Commission (FTC) and the Office of the Comptroller of the Currency (OCC) to enforce compliance and share intelligence on emerging threats.
Source: Federal Trade Commission
These efforts demonstrate a robust commitment by American financial institutions to curb fraudulent activities and ensure the security of their customers' financial transactions.
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