Check Fraud Surge and Open Finance Revolution

Explore the alarming rise in check fraud impacting financial institutions and the role of social media in these crimes. Discover how new open finance guidelines aim to enhance financial inclusion for the unbanked. Plus, delve into the Israeli budget agreement impacting labor markets and Paxos' strategic acquisition in the fintech sector. This episode offers insights into the evolving landscape of finance, technology, and regulation.

Sources:
https://www.pymnts.com/news/2024/financial-institutions-face-surge-in-check-fraud/
https://finance.yahoo.com/news/open-finance-guidelines-aim-spur-062700379.html
https://www.jpost.com/breaking-news/article-829845
https://paxos.com/blog/paxos-to-acquire-finnish-e-money-institution-membrane-finance/

Outline:
(00:00:00) Introduction
(00:00:39) Financial Institutions Face Surge in Check Fraud
(00:03:28) New Open Finance Guidelines Aim to Spur Financial Inclusion
(00:07:11) Finance Ministry and Histadrut come to agreement on budget outline
(00:09:56) Paxos to Acquire Finnish E-Money Institution Membrane Finance