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Federal Reserve Banks extend deadline for payments fraud survey to May 23

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Federal Reserve Banks extend deadline for payments fraud survey to May 23
By Gregory Caron

MAY 21, 2014

Participants are still needed for the 2014 Federal Reserve Payments Fraud Survey. The Federal Reserve Banks of Boston, Chicago, Dallas, Minneapolis, and Richmond annually conduct the survey, which is aimed at addressing new or continuing challenges that organizations face today with payments fraud, as well as methods they employ to reduce fraud risk. 

 

The Federal Reserve uses the survey as a tool to reach out to national and regional associations for their help in addressing payments-related fraud. 

 

Previously, the questionnaire was available online only until May 9, but it has now been left open through May 23. Only one response per organization is needed. 

 

The survey is expected to take anywhere from 20 to 30 minutes to complete and is intended to help the Federal Reserve better understand new and continuing challenges with payments fraud, as well as popular methods currently in use to reduce fraud risk. 

 

A high-level summary of the results will be prepared and distributed to participating associations and survey respondents as a thank you for participation. 

 

Respondents will have access to aggregate results, as well as the final report. An organization's specific responses will be shared with only a limited number of staff working on the payments fraud research project but will not be made public. The only individuals permitted to be on the project team are from the Federal Reserve Banks of Boston, Chicago, Dallas, Minneapolis, and Richmond. 

 

If you would like more information about this survey and its history, past summary reports are available on the Federal Reserve Bank of Minneapolis website. The site also offers a complimentary on-demand webinar that reviews national fraud data trends and other findings from the 2012 Federal Reserve Payments Fraud Survey

 

The 35-minute webinar is sponsored by the Payments Information and Outreach Office at the Federal Reserve Bank of Minneapolis and serves as a guide for organizations to better protect rapidly evolving payment instruments from fraud attacks.  

 

The nation's12 Federal Reserve Banks operate as a central banking system, created by Congress to provide a safer, more flexible, and more stable monetary and financial system.

 

To participate in the survey, view the questionnaire on the Federal Reserve Banks survey website.

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