PYMNTS

JUNE 23, 2020

And with the continued shift from in-person commerce to card-not-present sales, trust is important. Reducing fraud is critical, as fraudsters look toward new avenues of stealing credentials and draining accounts. In the great digital leap, roughly $158 billion in brick-and-mortar sales are moving online, according to PYMNTS’ analysis.

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Cards Security Fraud Payments 275

PYMNTS

MARCH 8, 2016

Another major step in the Home Depot 2014 breach case has been settled. Home Depot has agreed to pay $13 million to the victims impacted by the data breach that resulted in payment card data being stolen from more than 50 million consumers. The malware was believed to have been present between April and September 2014.

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PYMNTS

JANUARY 8, 2020

A New York man, 39-year-old Bogdan Rusu, was sentenced to 60 months in prison on charges of using credit card skimming tactics to steal $390,141 from various New Jersey banks, according to a Department of Justice (DOJ) report. From there, they used the information to steal customers’ money from their accounts.

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PYMNTS

FEBRUARY 2, 2017

The number of identity fraud victims rose 16 percent in 2016, marking the highest level since Javelin Strategy & Research began tracking the trend in 2003. According to the research, during 2016 there was a resurgence in existing card fraud, which saw an increase of 40 percent in card-not-present fraud.

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PYMNTS

JULY 25, 2017

The impact of online fraud reaches far beyond the dollar count of sales lost. . In recent studies, as noted by EKN Research and Radial, developed nations are seeing an increase in card not present (CNP) fraud, which now accounts for as much as 70 percent of all card fraud and is growing at double-digit percentage rates in some nations. .

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PYMNTS

MARCH 31, 2020

The partnership enables CoinEx users to buy cryptocurrencies like bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and USDT with their Visa or Mastercard credit cards directly. Enabling fast and secure credit card payments is a key step to mass crypto adoption. USD, EUR, CAD and other fiat currencies are supported. “We

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Cards cryptocurrency Bitcoin Regional 140

Jack Henry

APRIL 30, 2014

Cyber-Attacks on Financial Institutions ATM and Card Authorization Systems. 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.

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PYMNTS

APRIL 25, 2016

Plus, the latest analysis on alternative lending demand, expense management fraud and the gap between what CFOs have for their companies and what they need. Of course, we have the quarterly numbers, too, including insight into how American Express’ commercial card business is holding up. billion worth of the industry in 2014.

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PYMNTS

JUNE 14, 2016

Gas stations offer a lot of benefits for card fraudsters. They’re unattended, which makes it easy (and even inconspicuous) for them to check out whether their counterfeit cards are alive and well and ready to use. As a result of that pilot, there was a 23 percent reduction in fraud.

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Fraud Operations Cards Analytics 100

PYMNTS

JULY 27, 2016

Victims of an illegal credit card billing scam have started receiving checks from the Federal Trade Commission. According to the FTC, the operators of the illegal credit card scheme made unauthorized charges on the credit cards and debit cards of victims for internet services they didn’t get. billion.

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Cards Fraud Operations Report 100

PYMNTS

JUNE 16, 2016

Visa and MasterCard are using security measures prone to fraud, putting retailers and customers at risk of thieves, The Home Depot says in a new federal antitrust lawsuit. Atlanta-based Home Depot says new payment cards with “chip” technology remain less secure in the U.S. District Court in Atlanta. Even with chips, U.S.

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PYMNTS

FEBRUARY 10, 2017

Just when payment card data seemed somewhat protected by EMV technology, hackers have found yet another way to steal information and gain access to PINs. As Datablink CEO Alex Cagnoni pointed out, card cloning devices are not something new; however, with the use of a chip, the attack has become more complex but still quite effective.

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Fraud Cards ATM Trends 100

PYMNTS

MAY 23, 2017

In the latest Data Drivers, Uri Rivner, head of Cyber Strategy and vice president of Business Development at BioCatch , stated that as countries around the world embrace faster payments, they may do well to heed some sobering statistics on fraud gleaned from the United Kingdom’s own experience. Data Point One: 300 Percent. In the U.K.,

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PYMNTS

JULY 17, 2018

Since the migration to EMV in the largest card market in the world (the U.S. in October of 2015), the incidences of counterfeit card fraud at chip-enabled merchants have fallen sharply — some 76 percent, as reported by card networks. Sometimes the cards are ancillary to a different criminal purpose.

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PYMNTS

APRIL 5, 2017

Paygilant, the frictionless mobile payments fraud detection company, announced Tuesday (April 4) it was able to show how Citi was able to reduce operational costs associated with mobile wallet transactions. With mobile wallet transactions worldwide expected to exceed $1.5 This is extremely valuable to Citi,” he said.

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PYMNTS

MARCH 31, 2016

This week, PYMNTS, in collaboration with Socure , released the March edition of the PYMNTS.com Digital Identity Tracker TM , featuring all new research surrounding the increase in online fraud fueled by the increase in EMV card chip tech adoption. Other highlights from the survey include: Only 1.1%

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PYMNTS

AUGUST 3, 2017

Back in 2004, fraud was on the rise globally. Digital fraud was a new beast, and people didn’t know any better than to be tricked by phishing emails that today would raise red flags for even the most technologically illiterate consumers — sketchy email addresses, poor grammar and those classic sob stories from Nigerian princes, to name a few.

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Gonzobanker

AUGUST 3, 2023

The time has come for some truth on the world of payment card flips. disrupted banks’ income on debit cards. had in 2011, they’re likely to see an 18% to 25% volume shift from signature to PIN card transactions by the end of 2025. And the threat of disruption on credit cards looms large.

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PYMNTS

APRIL 22, 2016

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

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NCR

SEPTEMBER 15, 2017

While the transition is still in process, and has in many cases been a bumpy, road to adoption, it will go a long way towards tackling some of the most common types of fraud. Where it is prevalent, EMV has proven to be a highly effective method of preventing card-present/counterfeit card fraud. million in 2016.

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Fraud Cards Security US 84

PYMNTS

DECEMBER 27, 2019

Italy, which has one of the lowest rates of credit card use in Europe, may start to see that change soon as the government will give bonuses to those who use electronic payment services over cash. By offering the incentive, they hope to cut down on black market deals and fraud, they say. But the change is not welcome to everyone.

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PYMNTS

NOVEMBER 16, 2016

Unless it’s fraud you are talking about. At the end of 2014, the average U.S. But alongside that iPad your 10-year-old daughter needed, the rate of online fraud attacks on retailers has doubled, up 137 percent year over year in the first quarter of this year. Fraud attempts show that $7.30 The data is sobering.

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Fraud Retail Online Data 100

PYMNTS

APRIL 24, 2017

A Russian hacker was sentenced to 27 years in federal prison for stealing credit card numbers and selling the data online, according to The New York Times. Seleznev was convicted for running a credit card and identity theft business out of his homes in Indonesia and Russia. “This prosecution is unprecedented.”

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PYMNTS

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. Developments From Around the World of Digital Fraud.

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PYMNTS

JUNE 23, 2020

In today’s top news, former Wirecard CEO Markus Braun was arrested Monday night over the firm’s recent accounting fraud scandal, and Airbnb’s CEO is again mulling a potential initial public offering (IPO). Verizon Debuts Visa Credit Card With Rewards. Plus, Amazon’s Big Style Sale runs this week.

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PYMNTS

AUGUST 24, 2020

This massive popularity is driving many digital-first banks to invest in more advanced interactive teller machines (ITMs), which connect customers with a human teller via videoconference and allow for more sophisticated banking activities beyond cash withdrawal, including card applications and account openings. The Advantages Of ITMs.

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PYMNTS

AUGUST 15, 2019

Dobbie joined Vocalink’s Card Transaction Services business in 2014 and has more than 16 years of FinTech experience. The New Payment Platforms team is transforming global payments through services which range from national payments infrastructures to cutting-edge anti-fraud solutions,” Dobbie said. “I

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NCR

JULY 13, 2017

Financial institutions should be braced for a tough fight against fraudsters this year, as they have been warned 2017 is set to be a record year for card fraud losses. For instance, it highlighted card skimming at ATMs or POS machines as an attack method that continues to be troublesome.

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PYMNTS

MAY 13, 2020

The 28 additions add significantly to the 150 token requestor partners that had been included in Visa Token Service through the years since the service launched in 2014. The bad actors are eyeing eCommerce and specifically card not present transactions as promising attack vectors.

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FICO

JUNE 29, 2017

FICO has just released an interactive infographic on European card fraud trends since 2006, showing that card fraud in the 19 countries studied has hit a new high of €1.8 In the UK, card fraud also a hit a new high in 2016, £618 million, though the rise was less than the rise from 2014 to 2015.

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Fraud Cards Analytics Trends 55

Celent Banking

AUGUST 27, 2015

In my last post, I talked about the experience of using my credit card in the US, and how just inconsistent it feels. In some conversations we’ve had, there has been a feeling that US fraud is actually manageable at an industry level – a belief that they are in line or better than in many other countries. Whilst accounting for 21.4%

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PYMNTS

NOVEMBER 23, 2020

Most of those solutions still rely heavily on checks and business credit cards — which are resource-consuming processes with higher risk[s] of misuse, fraud and theft,” Gitesh Athavale , head of product (cards) at Nium, told PYMNTS. Now, the trick is to make smart choices with urgency because cybercrooks never sleep.

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PYMNTS

APRIL 18, 2019

That country enforced a similar regulation in 2014, and businesses reported a subsequent overnight conversion drop of more than 25 percent due to the extra payment steps required. SCA’s goals are laudable by any measure, as the requirement seeks to reduce fraud and make online card-not-present (CNP) transactions more secure.

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PYMNTS

JUNE 19, 2016

On the EMV front, Home Depot decided it felt strongly enough about Chip and PIN that that it sue MasterCard and Visa over it.Walmart Canada decided it would stop accepting Visa cards since they say they are too expensive. Home Depot’s 2014 data breach at stores in the U.S. Home Depot – Another EMV Lawsuit Joins The Party .

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PYMNTS

JULY 15, 2019

Some of the most popular targets include the challenge of reconciling and analyzing driver spend, or mobilizing fleet cards to support the transient nature of the fleet driver’s profession. As far as the payments pay points themselves and how drivers pay for their fuel, I don’t think that’s a huge impediment for drivers right now.”. “As

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PYMNTS

FEBRUARY 8, 2018

Essentially, it means handling everything other than card issuing, authorization and transaction processing. So, in 2014, they decided to become a program manager themselves and take a different approach so that the entire business model did not depend on the processor’s ability to provide services. Being a program manager isn’t easy.

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PYMNTS

APRIL 8, 2019

Sharing is, in fact, enormously complex, prone to fraud and frustration, at least when it comes to digital payments and commerce. The global sharing economy stood at about $148 billion in 2014 (certainly nothing to sneeze at), and will balloon to $335 billion by 2025, less than six years away. Supply Of Data.

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