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Payments fraud climbs as banks reach for joint response

May 25, 2023

Attendees at Nacha’s Smarter Faster Payments conference last month were coasting through a late morning panel discussion on fraud just before lunch when one panelist’s comments stirred up the ballroom.

Consolidated Edison Director Frank D’Amadeo, who leads treasury operations at that utility, was asked by a moderator about “pain points” faced by companies amid rising payments fraud. With his response, D’Amadeo took on the banking and payments professionals packed in the room.

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