PYMNTS

FEBRUARY 18, 2019

So much of the focus on fraud these days involves exploiting holes in software, hacking into systems to steal personal information and payment data, or otherwise using digital methods in heists. But recent news involving “death-spiral financing” reminds us that fraud is still conducted in other, relatively old-fashioned ways.

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PYMNTS

SEPTEMBER 12, 2020

NS8 , a Las Vegas-based online fraud prevention and detection software maker for small and medium-sized businesses (SMBs), has begun layoffs following the abrupt resignation of its CEO. 8) that the Securities and Exchange Commission (SEC) was investigating the company for alleged fraud. “We.

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Las Vegas Fraud Software California 210

PYMNTS

JULY 27, 2016

Credit card fraud complaints in the U.S. ValuePenguin analyzed data collected by the Consumer Financial Protection Bureau and found that there were approximately 70,000 credit card fraud complaints submitted in 2015. At the state level, the number of credit card fraud complaints were much more pronounced. Across the U.S.,

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PYMNTS

SEPTEMBER 21, 2020

In response, HSBC issued a statement: “Starting in 2012, HSBC embarked on a multi-year journey to overhaul its ability to combat financial crime across more than 60 jurisdictions,” the bank said in response to the stories by BuzzFeed News and the International Consortium of Investigative Journalists.

social media 297

social media Report Operations Company 297

PYMNTS

MAY 2, 2019

After all, bad password habits can bring severe financial, security and reputational penalties (whereas failing to talk like a pirate merely confirms your status as a relatively normal adult, for better and/or worse). Among the most recent examples comes from Microsoft’s Chief Information Security Officer (CISO) Bret Arsenault.

Tools 138

Tools Security Data Online 138

PYMNTS

DECEMBER 10, 2020

identities took center stage in 2012 — the year HSBC, Europe?s The Financial Industry Regulatory Authority, a private corporation that acts as a self-regulatory organization, adopted new KYC rules in 2012 requiring its broker members to use “reasonable diligence” to open and maintain every account. The London-based bank?s

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Video Digital Banking User Experience Tools 201

PYMNTS

AUGUST 18, 2016

The financial messaging service known as SWIFT — which operates as a bank-owned consortium and helps payments in the billions of dollars move globally — has been beset by security flaws, has known about those flaws and has done little to address those flaws. So reported Reuters on Wednesday (Aug. So reported Reuters on Wednesday (Aug.

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PYMNTS

MARCH 1, 2016

29) that it has brought on board Amazon’s former chief security officer, Tom Killalea. WSJ noted that “especially valuable” is Killalea’s experience within the customer service arena, with security complementing expansion efforts by Capital One into data usage and software development, among other areas.

Capital 100

Capital Security Data Software 100

PYMNTS

MAY 20, 2020

IntegriDATA Treasury Property Manager Ted Haslam said the Workday program has become popular with clients and the company is “excited to offer them secure straight-through payment processing,” according to a press release.

Security 145

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PYMNTS

NOVEMBER 15, 2017

Wells Fargo Advisors and the Securities and Exchange Commission (SEC) reached a settlement this week resolving charges that the bank dropped the ball in reporting suspect activities pertaining to money laundering for several years. According to a MarketWatch report published Tuesday (Nov.

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PYMNTS

OCTOBER 26, 2018

Amid reports this week that changes to accounting standards are coming over the next few weeks, the Securities and Exchange Commission (SEC) has said that financial professionals, including accountants, must be mindful of cybersecurity risks. The total spending came to as much as 12 million euros between 2003 and 2012.

Washington 122

Washington Fraud Security Report 122

PYMNTS

JANUARY 10, 2019

The auditors found that misused EU funds totaled 391 million euros or $451 million in 2017, in line with the past four years, but the EU’s anti-fraud investigative office OLAF was only able to indict EU member states in 45 percent of cases.

Fraud 141

Fraud National Regulation Report 141

PYMNTS

JULY 19, 2020

The California-based financial services company, founded in 2012, works to build products to power digital finance and FinTech issues through its own data transfer network. The payments giant also participated in a funding round in 2018 that helped value Plaid at $2.6 billion, PYMNTS reported.

California 207

California Data Software Report 207

PYMNTS

JUNE 11, 2020

What is new is the way in which the technology is being incorporated into businesses’ broader efforts to comply with relevant AML/KYC regulations to help mitigate identity theft and fraud and the legislation being adopted to support those technologies and govern the ways they are implemented.

Compliance 186

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PYMNTS

SEPTEMBER 30, 2016

You don’t have to look far to see security flaws leading to massive data breaches. Security experts believe that may be what happened to Yahoo — the tech giant confirmed that over 500 million user accounts were compromised by hackers, marking what is said to be the largest data breach in U.S.

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PYMNTS

DECEMBER 21, 2018

The increase can be attributed to China’s request for thousands of devices’ worth of data during one fraud investigation. It received anywhere between 0 and 499 national security orders. The company also saw a 30 percent increase in requests to save data for up to three months in 1,579 cases, which impacted 4,033 accounts.

Apple 128

Apple Data United States Report 128

South State Correspondent

OCTOBER 25, 2023

Over the last ten years, from 2012 to 2022, checks by volume have declined some 57%. This cost includes receiving checks, scanning, providing checks, check security, data verification, check data management, compliance, fraud management, customer service for transactions, handling complaints, dispute resolution, and exception handling.

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Fraud ATM Payments Management 195

Jack Henry

APRIL 30, 2014

In light of the ATM cash-out schemes that had taken place recently, an alert was issued to provide details on how this type of fraud had occurred, the risks presented to financial institutions (FIs), and what FIs could do to mitigate these risks. Everyone is well aware of the DDoS attacks that have been plaguing FIs since 2012.

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PYMNTS

MAY 20, 2016

Remember that LinkedIn data breach in 2012? Here’s what LinkedIn shared as an update on the breach: Yesterday, we became aware of an additional set of data that had just been released that claims to be email and hashed password combinations of more than 100 million LinkedIn members from that same theft in 2012. million accounts.

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PYMNTS

JUNE 27, 2016

filed criminal charges against a man accused of hacking into the bank and credit card accounts of celebrities from February 2012 to January 2015. The victim data that was compromised includes Social Security numbers, names and birthdates, but none of the victims were actually identified in the court documents, Reuters said.

Data 101

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PYMNTS

OCTOBER 6, 2017

In a state of constant change, how does an online retailer ensure it is keeping up with the best customer experience, security, payments solution or fulfillment process? It was only a few years ago that retailers started looking externally for strategic answers to how they were managing inventory or how they were keeping fraud at bay.

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Retail Fraud Customer Experience Management 109

PYMNTS

JUNE 25, 2018

Cybercriminals have a new favorite weapon in their quest to allude regulators, law enforcement and corporate security departments: account takeovers. Victims paid an average of $290 out of pocket in 2017, and spent approximately 15 hours resolving takeover-related fraud. That means anyone can use account takeovers to commit fraud.

Payments 116

Payments Security Fraud Online 116

Accenture

FEBRUARY 28, 2017

Cash usage will see a clear reduction across Europe—as an example, ATM cash withdrawals in the UK, which peaked at 2.9bn withdrawals in 2012, will fall from 2.7bn withdrawals in 2016 to somewhere between 2 – 2.5bn withdrawals in 2017. Use of Apple Pay, Samsung Pay etc. Real-time Payments Interbank Infrastructure.

Payments 150

Payments Bitcoin Samsung Fraud 150

Accenture

FEBRUARY 28, 2017

Cash usage will see a clear reduction across Europe—as an example, ATM cash withdrawals in the UK, which peaked at 2.9bn withdrawals in 2012, will fall from 2.7bn withdrawals in 2016 to somewhere between 2 – 2.5bn withdrawals in 2017. Use of Apple Pay, Samsung Pay etc. Real-time Payments Interbank Infrastructure.

Payments 150

Payments Bitcoin Samsung Fraud 150

PYMNTS

JULY 6, 2018

And, of course, how to leverage enough security advances to keep out the cybercriminals who want to follow — and rob — the digitally migrating crowds. $2 250 percent : The amount card-not-present fraud has grown since 2012. 11 percent : The share of purchases made in cash in Australia in 2016.

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PYMNTS

AUGUST 31, 2017

NBC News reported that the data breach occurred because spammers neglected to secure their servers, allowing the information to be accessed and downloaded without credentials. Security researcher Troy Hunt said it was the largest set of data he has ever uploaded to his site, Have I Been Pwned?

Security 129

Security Data System Report 129

PYMNTS

MARCH 18, 2019

Rethinking Security Strategies . Financial and Ethical Security Strategies. banks increasing their AML compliance staffing tenfold between 2012 and 2017, according to one report. Money is the lifeblood that fuels any organization, and that includes terrorist and other criminal groups.

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Compliance Regulation Chicago Tools 181

PYMNTS

MAY 25, 2018

After reports of money laundering caused lenders in Estonia and Latvia to close, police said on Friday (May 25) that more than $13 billion (or about €11 billion) was laundered through banks in Estonia between 2012 and 2016. In 2012, more than €7.3 billion in securities from Russia were processed through the Estonian financial system.

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Leadership Report Groups System 121

PYMNTS

NOVEMBER 1, 2018

Ng is also charged with conspiring to violate the FCPA by circumventing the internal accounting controls of a major New York-headquartered financial institution, which underwrote more than $6 billion in bonds issued by 1MDB in three separate bond offerings in 2012 and 2013, while Ng was employed at the financial institution as a managing director.

New York 139

New York New York City United States Management 139

PYMNTS

APRIL 4, 2017

An attorney from the Wiand Guerra King firm in Florida, Jordan Maglich, shared that there have been 65 Ponzi schemes per year since 2012, equaling around $6 million with a reduction to $3.5 Securities and Exchange Commission (SEC) to uncover Ponzi schemes in the U.S. million in 2016.

Florida 102

Florida Fraud Security Data 102

PYMNTS

MARCH 12, 2020

The men were said to have impersonated Jean-Yves Le Drian, France’s defense minister from 2012 to 2017, mostly by phone — but in some instances, they staged a fake office and used a silicone mask for video calls. Lasarevitsch’s lawyer David-Olivier Kaminski felt that the sentences were “dizzyingly high.” .

New York 141

New York Video Fraud Taxes 141

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Customer Experience 59

Customer Experience Survey Fraud Cards 59

PYMNTS

JUNE 7, 2016

The hack is believed to have taken place sometime between late 2012 and early 2013, but the hacker behind the breach is now selling a smaller subset of the database on a dark web marketplace for 1 bitcoin (a value of approximately $580). All users’ data mentioned in this database was changed compulsorily. million accounts.

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social media Data Bitcoin Software 100

PYMNTS

AUGUST 8, 2017

The same suit alleges that the bank did not suspend accounts that were tied to fraud. The coding error pointed to by the bank was housed within intelligent deposit machines, brought on board in 2012. The error was not fixed until three years later, said the bank.

Fraud 108

Fraud Software Report Data 108

PYMNTS

OCTOBER 17, 2018

If history is even a rough guide to the future, you can bet that some of the case studies, technology and techniques gained from what promises to be a major operational effort will make their way into the payments and commerce mainstream — which, of course, has its own daily issues with data breaches, hackers, fraud and authentication.

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PYMNTS

NOVEMBER 28, 2019

The event launched in 2012 and raised around $400 million in the U.S. Crypto-based donations are taking center stage this holiday season with #BitcoinTuesday. The event on Dec. 3 is a take on GivingTuesday, which allows people to make donations to charities.

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Bitcoin Community Groups Innovation 176

PYMNTS

JUNE 21, 2017

SoftBank is helping out Boston-based digital security firm Cybereason with a big $100 million investment. Cybereason turns machine learning and behavioral analytics loose to process data and flag security issues in real time. Businesses need to concentrate on what happens once the adversaries are inside.”.

Software 100

Software Boston Analytics Security 100