If banks are serious about thwarting fraud or keeping it from spreading, then they need to do a better job of sharing information between departments and with rival banks and nonbank partners, industry practitioners say.

As it stands, a department responsible for tracking suspicious deposits and withdrawals often might not share its data with fraud analysts who are tasked with monitoring fraudulent debit and credit card purchases and other transactions. By not working more closely together, they could be missing out on an opportunity to spot fraudulent behavior or, with the help of law enforcement, bring down a criminal ring, experts say.

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