PYMNTS

MARCH 6, 2018

ATMs and merchants in 2017. The number of compromises and the number of card members impacted set a new record last year,” said TJ Horan, vice president of fraud solutions at FICO. ATMs, restaurants and merchants went up 8 percent in 2017. also showed that compromised card readers at U.S.

ATM 126

ATM Cards Fraud Security 126

PYMNTS

JUNE 22, 2020

Corporate fraud continues to plague businesses large and small, and in this week’s B2B fraud tracker, many of the latest cases of nefarious activity within the enterprise can be traced back to the continued use of paper and legacy systems. The biggest story this past week, of course, was the revelation that as much as $2.1

Fraud 198

Fraud Report Company Resources 198

PYMNTS

DECEMBER 10, 2019

The tools we use to detect, score and prevent fraud — particularly card-not-present fraud in digital transactions — have improved exponentially in the last half-decade. As of today, 85 percent to 95 percent of synthetic fraud identities are easily slipping past risk detection systems that are failing to flag them.

Fraud 158

Fraud System Data Tools 158

PYMNTS

NOVEMBER 4, 2020

The seizure stemmed from a cryptocurrency fraud scheme being investigated by Brazilian federal police called Operation Egypto. In addition, the Financial Crimes Enforcement Network ( FinCEN ) has warned banks to look out for cryptocurrency-related fraud, with reports rising due to pandemic-related chaos in recent months.

Fraud 234

Fraud cryptocurrency Regulation Operations 234

PYMNTS

FEBRUARY 22, 2018

Hackers who used to amuse themselves stealing credit cards have raised the level of their identity theft game such that 2017 was a record year — 16.7 That fraud run saw $16.8 billion successfully lifted in 2017, the highest amount in four years. million Americans were victimized last year, a jump of eight percent from 2016.

Cards 140

Cards Fraud Security Data 140

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

Fraud 195

Fraud Training United States Survey 195

PYMNTS

JUNE 29, 2020

Open banking is one of the most significant emerging trends in the financial industry, allowing banks and FinTechs to share financial data in a quick, easy and secure manner across a network of platforms. Security Risks Facing Open Banking. billion such attacks between December 2017 and November 2019, 16.55 There were 85.42

Security 240

Security System Fraud Data 240

PYMNTS

FEBRUARY 2, 2017

Combating cyberfraud is a “balancing act,” says Sift Science, a fraud detection software company. And the number of things corporations have to juggle to safeguard their data — from the numerous types of fraud to the copious technologies that combat it all — mean cybersecurity is no easy task. Beyond Fraud.

Fraud 100

Fraud Security Payments Survey 100

Accenture

FEBRUARY 28, 2017

Despite this, I can see clear trends through our work with clients and observation of industry developments, and based on these, I have developed a set of predictions for 2017. Card-not-present (CNP) fraud will continue to outpace e-commerce growth globally, even as e-commerce continues to grow strongly in all markets.

Payments 150

Payments Bitcoin Samsung Fraud 150

Accenture

FEBRUARY 28, 2017

Despite this, I can see clear trends through our work with clients and observation of industry developments, and based on these, I have developed a set of predictions for 2017. Card-not-present (CNP) fraud will continue to outpace e-commerce growth globally, even as e-commerce continues to grow strongly in all markets.

Payments 150

Payments Bitcoin Samsung Fraud 150

PYMNTS

MARCH 2, 2020

in 2017 on healthcare services. Instead, she noted, an estimated $240 billion is going out the door to fraud, waste and abuse (FWA). We securely store over 18 petabytes of sensitive data — this is a significant amount of data that we’re dealing with every day,” she said. “And Healthcare in the U.S. is a massive industry.

Fraud 216

Fraud System Security Industry 216

PYMNTS

JULY 8, 2020

“In many cases, AI is fundamental to scaling and keeping up with the pace of the network transactions that are happening,” said Sudhir Jha , a Mastercard senior vice president and head of Brighterion , an AI company that Mastercard acquired in 2017. Fighting Fraud in a Post-Pandemic World. AI Also Helps Manage Credit Risk.

Fraud 274

Fraud Management Risk Management Company 274

PYMNTS

JANUARY 10, 2017

It’s early in 2017, but fraud looms like Nosferatu chancing upon the sleeping maiden. As an analogy, he said, think of an airport security setup, where the clear majority of users are not terrorists, yet the current system demands an unpleasant and inefficient process.

Fraud 100

Fraud US Data System 100

PYMNTS

FEBRUARY 9, 2020

In 2017 and 2018, by comparison, the various schemes and fraudulent activity was $3 billion combined. Perpetrators of fraud and Ponzi schemes use that naivete against them, according to experts like Christopher Janczewski, a special agent at the Internal Revenue Service, who has worked with crypto-fraud cases.

Fraud 207

Fraud cryptocurrency Bitcoin Comparison 207

PYMNTS

JANUARY 31, 2020

Another 2018 survey found that consumers of all ages showed growing interest for such cards, as customers’ preference for the payment method saw a 10 percent increase over 2017. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods. Holistic Security.

Fraud 148

Fraud ATM Cards Security 148

PYMNTS

FEBRUARY 28, 2020

Cloud-based platforms are particularly juicy targets for digital fraud. File hosting service Dropbox is devoting substantial efforts to its fraud prevention measures, seeking to protect its more than 600 million users — who have 400 billon stored files, and upload 1.2 billion files each day. billion files each day.

Fraud 130

Fraud Training Security Data 130

PYMNTS

MARCH 15, 2018

Startup Emailage stopped almost twice as much potential fraud in 2017 as it did in the previous year. million in potential fraud was prevented, compared to last year’s $1 billion. billion in prevented fraud. consumers take for granted, but there’s a lot of lag in terms of security and fraud prevention.

Fraud 120

Fraud Regional America Security 120

Chris Skinner

FEBRUARY 6, 2017

Paris calls on London’s bankers to move to France for the food, culture – and even romance Germany not ‘exploiting’ euro, says S&P MPs press Lloyds to compensate HBOS fraud victims Are other analysts as bullish on the pound as Bank of America?

America 150

America Analysis Fraud Capital 150

PYMNTS

MARCH 3, 2020

Dating websites and apps in the Netherlands have had a spate of this type of fraud in recent years, with victims handing over $4.1 Online dating is lousy with, well, louses, as we learn from the February 2020 Digital Fraud Tracker® , a DataVisor collaboration. The market for anti-fraud software “… was valued at USD 13.59

Fraud 134

Fraud Google Online Training 134

PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

Fraud 152

Fraud Study Retail Online 152

PYMNTS

MAY 31, 2017

Visa announced Tuesday (May 30) that it is rolling out enhancements to its Verified by Visa service, a global solution designed to make online purchases more secure by helping ensure payments are made by the rightful owner of the Visa account. As part of the upgrade, Visa said it was enhancing its systems to support 3-D Secure 2.0,

Security 192

Security System Fraud Tools 192

PYMNTS

APRIL 12, 2018

The transition to the EMV chip in North America has been both a boon and a bit of a headache when it comes to payments security. On the one hand, Worldpay ’s VP of Data Products Nicole Jass noted, EMV has done an awful lot to slam the door shut on card-present fraud. According to Visa, counterfeit fraud at U.S.

Fraud 126

Fraud Data System Security 126

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

Chris Skinner

MARCH 15, 2017

The post Things worth reading: 15th March 2017 appeared first on Chris Skinner's blog.

Cyber Security 157

Cyber Security Charlotte Bitcoin Fraud 157

PYMNTS

JULY 25, 2017

As such, it would be logical to utilize machine learning to help tackle one of the largest threats to the eCommerce shopping world – online retail sales fraud. In 2016, online financial fraud hit 15.4 Several companies have popped up over the last few years with the specific purpose of combatting online fraud.

Fraud 196

Fraud Online Retail Maine 196

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

Fraud 284

Fraud Study United States Training 284

PYMNTS

JUNE 29, 2020

Connie Ngo , CertiK’s marketing manager, told CoinDesk in an email that the companies agreed “it would make sense to formally partner with one another as a public promise of Hdac’s focus on security and a symbol of CertiK’s ability to support larger enterprise-level solutions such as Hdac’s.”

blockchain 168

blockchain Security Bitcoin Boston 168

PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

Fraud 129

Fraud Strategy US United States 129

PYMNTS

OCTOBER 19, 2018

They are able to use cutting-edge technology, black-market websites and top-level, nimble and well-secured global networks to work their craft. At the least, it won’t get any better — not according to any anti-fraud expert who is worth their rate. million fraud crimes in 2017, Trilli said, and $22.1 In the U.S.,

Fraud 189

Fraud Online social media Software 189

PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

Fraud 124

Fraud Retail Online Study 124

PYMNTS

OCTOBER 13, 2017

With countless incidents of fraud occurring every day, some of which have made international headlines and impacted millions, cybersecurity and fraud prevention are top-of-mind for individuals and companies alike. How can they do that in an environment in which the security status quo is no longer appropriate?

Data 103

Data Security eBook Fraud 103

PYMNTS

APRIL 29, 2019

In addition, some of the company’s quality-management executives allegedly lied to independent auditors in early 2017. As part of the agreement, the company must pay restitution to shareholders, as well as implement internal controls and cooperate with the investigations of the former executives allegedly involved in the fraud.

Fraud 108

Fraud Indianapolis New York Operations 108

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. According to a 2017 report from the FBI’s Internet Crime Complaint Center (IC3), there have been $1.4

Fraud 108

Fraud Knowledge Base Regulation Data 108

PYMNTS

FEBRUARY 2, 2017

Most people never dream that identity fraud could happen to them in their lifetime. Research firm Javelin Strategy & Research just released its 2017 Identity Fraud Survey, showing that it found a 16 percent increase in identity fraud victims for the year 2016. 31 percent | Increase in fraud incident occurrences.

Fraud 100

Fraud Data Strategy Security 100

PYMNTS

AUGUST 18, 2017

Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. There’s never ‘too much’ security,” Grant said.

Security 131

Security Fraud Analytics Tools 131

PYMNTS

MARCH 1, 2019

If preventative measures aren’t taken, however, faster payments could open the door to more fraud and cyberattacks. According to a 2017 YouGov survey, 65 percent of SMBs in the U.S. Fraud opportunities. Once payments started moving in seconds, however, fraud instances quickly shot up. Security strategies.

Security 134

Security Payments Fraud Cards 134

PYMNTS

MARCH 6, 2020

A 2018 survey found that 50 percent of IT professionals labeled security among the most-pressing issues affecting their API strategies, and API-related services are expected to become those hackers most frequently attack by 2022. . Companies, therefore, must work to identify and track APIs’ use and secure them against key threats.

Security 130

Security Survey System Strategy 130