BankInovation

OCTOBER 24, 2022

Regtech company ComplyAdvantage has teamed up with anti-fraud fintech Resistant AI on a solution that alerts financial institutions to patterns that signal money laundering and other fraudulent activity.

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PYMNTS

NOVEMBER 28, 2018

Google, the FBI and White Ops, along with a handful of cybersecurity companies, recently collaborated to shut down a digital ad fraud scam that used 1.7 According to the report, 3ve (pronounced “Eve”), which is what the group called its online ad fraud campaign, was active since 2014 but could have been around for longer.

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PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud. It helps.”.

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PYMNTS

NOVEMBER 3, 2020

Aleksandr Brovko, 36, formerly of the Czech Republic, pleaded guilty in February to conspiracy to commit bank and wire fraud. In the March Digital Fraud Tracker, PYMNTS explores how artificial intelligence and machine learning could help stem the surge in security breaches. The sentence was handed down by Senior U.S.

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PYMNTS

MAY 16, 2016

The search for the Bangladesh cyberheist fraudsters has taken an interesting turn with new research indicating the involvement of the same hackers behind the 2014 hack on Sony Pictures. “The implementation of this function is very unique.

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PYMNTS

NOVEMBER 2, 2018

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm. The audit covered the period of July 1, 2014 to Dec. News came Thursday (Nov. A Bit Of Victory.

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PYMNTS

JANUARY 27, 2020

The same report found that the total cost of a data breach had risen 12 percent since 2014. Growing attack-related expenses force businesses to remain vigilant against emerging threats, including phishing and other types of fraud that their own employees may willingly or unwillingly perpetuate. Ensuring Secure Workplace Practices.

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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

FEBRUARY 21, 2020

The price of an individual taxi medallion sold at an auction skyrocketed 240 percent from 2004 to 2014, from $283,300 to $965,000. It also set up an artificial floor for bids and permitted taxicab brokers and large owners to “bid up” medallion prices.

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PYMNTS

JANUARY 25, 2019

Corporate fraud – from within the company, and from without – continues to make headlines and headway, with the past week having seen some revisits on stories from even a few years back. Steve Barber, AA audit committee chair, said that in cases like those seen at the cake firm, such activity would be hard to find.

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Fraud Report Company Strategy 129

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. It ends with encouragement to utilize cyber-security resources like the ones I mentioned earlier.

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PYMNTS

NOVEMBER 1, 2016

Hitachi is teaming up with a regional bank in Japan to introduce anti-fraud ATMs. Joyo Bank, a regional lender located north of Tokyo, will begin operating the new anti-fraud ATMs early next year. “We the ATM has been under siege, as cyberthieves have targeted the machines, up threefold since 2014. billion yen ($252 million).

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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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PYMNTS

FEBRUARY 20, 2019

Google admitted that it didn’t tell users about a built-in microphone in its Nest Secure home security system, according to a report from Reuters. Nest Secure, a user-friendly home security system, costs around $400. In January, a hacker compromised a Nest security cam using passwords found from a third-party breach.

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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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Fraud Security Resources Survey 148

PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised.

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PYMNTS

SEPTEMBER 28, 2016

Can a smartphone keep you and your money safe from fraud? According to the Brazilian financial services firm, launched in 2014, it boasts a fraud rate just one-tenth that of larger banks and financial institutions. “Obviously, we have had a lot of fraud attempts, because the digital market has a ton of fraud,” Velez said.

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PYMNTS

MAY 7, 2018

Accelerating payments mean financial institutions have less time to identify fraud before a transaction clears and settles. In its analysis of the Same-Day ACH rollout, NACHA found no evidence that it led to an increase in fraud attempts or successful breaches. Companies appear to be overconfident in their ability to avoid fraud.

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PYMNTS

MAY 25, 2016

Radial , an omnichannel and fraud solutions provider, is promising to take away merchant woes with a suite of solutions, which it says improves order conversion rates and helps eliminate fraud. 2015, online fraud is forecast to explode from an estimated $3.1 With the introduction of EMV chip technology in Oct.

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PYMNTS

AUGUST 24, 2020

One FI deploying ITMs on a wide scale is Tennessee-based Ascend Federal Credit Union , which first began this initiative in 2014. ATMs and ITMs face a range of security threats, however, from smash-and-grab schemes for stealing physical money to identity theft techniques that trick machines into accessing accounts. Keeping ITMs Secure.

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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

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

JULY 21, 2020

The service is intended to help businesses automate their customer onboarding processes, powering fraud prevention and compliance for numerous financial institutions, payment companies, banks and other such institutions. By using GlobalGateway, Trulioo will be able to help verify customers are who they say they are in Vietnam.

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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

JUNE 14, 2016

Recognizing that problem for station owner/operators, in 2014, Visa introduced the Visa Transaction Advisor (VTA) to help these retailers fight back, especially given the anticipated lag in equipping fuel pumps with EMV readers. As a result of that pilot, there was a 23 percent reduction in fraud.

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Fraud Operations Cards Analytics 100

PYMNTS

MARCH 30, 2016

TSYS’ ProPay has paired up with InfoTrax to help direct selling companies battle fraudsters by integrating ProPay’s Guardian CyberShield fraud detection and protection service into its DataTrax back-office software. It is also used to prevent account takeover, payment fraud, identity spoofing, malware and data breaches.

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PYMNTS

SEPTEMBER 6, 2016

In a world where payments become more invisible the more digital they become, there’s never been a better opportunity to consider new ways to enable the digital transformation of financial services in a secure and compliant way. Payments Security As A Digital Business Enabler. Or watch its digital disruption.

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Security CA Payments Big Data 100

FICO

JANUARY 8, 2018

One of the newer applications of artificial intelligence rose to the top of the Fraud & Security blog last year: anti-money laundering. Here were the top 5 posts of 2017 in the Fraud & Security category: AI Meets AML: How the Analytics Work. Hacked ATMs Lead to 70% Rise in Debit Card Fraud.

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Meeting Fraud Security ATM 53

PYMNTS

JULY 11, 2016

Late last week, The Register reported that 105 suspects of credit card fraud were arrested in Asia and Europe after a cybercrime ring was busted by authorities. The investigation spanned two continents and targeted the fraud gang, which was led out of Malaysia and eventually reached 14 countries in Europe.

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PYMNTS

FEBRUARY 10, 2017

While they can’t be used to create a chip-based card, they allow enough data to be passed to create dummy magnetic cards that can then be used to perpetrate fraud. Identity Fraud On The Rise. What’s more, the amount the bad guys stole rose by close to $1 billion to $16 billion. to the same degree as other countries,” he noted. “A

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PYMNTS

SEPTEMBER 9, 2016

With the Same Day ACH rollout coming in just two weeks and other faster payments initiatives taking off, financial institutions are taking significant steps to ensure the transition to a faster processing environment, including improving their payment security platforms to keep fraudsters at bay. The Mountain View, Calif.-based

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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

Jack Henry

DECEMBER 3, 2014

The story reminded me how important it is to protect yourself against fraud while holiday shopping. But it also made me think - what about data security at your work place? Information Security & Risk Management' I saw a news story the other day about the amount of money we spend during the holiday season.

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Security Data Risk Management Software 83

Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. The culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014 with advisory FIN-2014-A007. Fraud Prevention.

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PYMNTS

OCTOBER 11, 2020

Ex- National Security Agency head Michael Rogers shared the assessment prior to appearing at an event FT is hosting. Rogers ran the NSA from 2014 to 2018 and now is a director at a consultancy called CyberCube that works with insurance companies.

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PYMNTS

JANUARY 8, 2020

By using secret card-reading devices and pinhole cameras at various locations, Rusu and others were able to commit a widespread bank fraud conspiracy that targeted various banks in Massachusetts, New York and New Jersey from August 2014 to November 2016, according to law enforcement.

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PYMNTS

MARCH 7, 2019

While the executive acknowledged there was evidence of unauthorized access to the Starwood network dating back to July of 2014, he said the company’s investigation found no evidence that guest data was impacted until the middle of November. The company now uses two-factor authentication to keep customer data more secure.

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