Chris Skinner

APRIL 30, 2020

Things we’re reading today include … Lloyds profits crash 95% as bank covers expected surge in bad debts Banks ‘can do more’ to compensate fraud victims How to detect business fraud Why the unemployed in America could face a lost decade Global equities dip at end of best month since … The post Things worth reading: 1st (..)

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PYMNTS

NOVEMBER 1, 2020

Corporate travel and expense management solution provider Serko has launched its Zeno Expense tool in North America, giving customers a new option for B2B travel management, a press release on the company website stated, alongside the company's Zeno Travel tool that was already available.

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PYMNTS

JUNE 27, 2018

Bank of America has been accused in a lawsuit of providing more than 100 accounts, used to carry out a $102 million Ponzi scheme. Bank of America, N.A., Bank of America spokesman Bill Halldin had no immediate comment on the lawsuit. According to Bloomberg , the class-action suit, Heinert v. was filed in U.S.

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Payments Dive

JULY 18, 2022

The CFPB accused the bank of implementing a faulty fraud filter that would trigger an account freeze over a “simple set of flags.”

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Chris Skinner

MARCH 3, 2017

Launched work to address the industry’s most pressing payment system security issues: identity management, data protection, and fraud and risk information-sharing. Inventoried current industry efforts to share information for fraud and risk prevention and mitigation.

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Perficient

FEBRUARY 12, 2025

Additionally, AIs capacity for real-time transaction monitoring and fraud prevention will help companies stay ahead of evolving regulatory demands. Advanced analytics and AI integration are becoming essential for improving transaction success rates, fraud detection, and overall business intelligence.

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PYMNTS

AUGUST 7, 2020

The COVID-19 pandemic is taking a tremendous toll on communities across America,” Brainard said. Combatting Fraud — And Addressing Competition And Costs . In a Thursday (Aug. 6) symposium highlighting the Fed’s approval of the FedNow system, Fed Gov. Or as George noted, a directory service that might be introduced after launch.).

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PYMNTS

OCTOBER 15, 2020

When Fisher sent the funds using the account number, it made its way to Wells Fargo and then Bank of America before the criminals withdrew it, according to CNBC. Bank of America reportedly said the clawback was possible because the fraud was reported to the bank quickly. The Fishers got their money back.

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PYMNTS

FEBRUARY 17, 2020

In this first-of-its-kind fraud prosecution of a small technology company, Golestan is facing 20 counts of wire fraud in a suit brought in the U.S. This is the first federal case that brings fraud allegations to internet resources. District Court in South Carolina. Golestan and his corporation have pleaded not guilty.

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PYMNTS

APRIL 6, 2020

Add to that $2 trillion in stimulus funds about to flow forward from federal coffers in a variety of forms, and one has a recipe for a fraud outbreak the likes of which the world has never seen. Edwards talked with Karen Webster and Visa ’s Vice President of North America Risk Lori Hodges. Flattening the Fraud Curve.

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Perficient

FEBRUARY 22, 2023

AI is increasingly being used to automate a variety of tasks in financial services institutions, including customer service, fraud detection, and loan applications. One of the key topics I expect to be discussed at the Summit is the heightened use of artificial intelligence (AI).

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PYMNTS

FEBRUARY 7, 2019

Corporate expense management solution provider Coupa has updated its platform with new features targeting compliance and fraud prevention. Coupa is also focusing on fraud with the Coupa BSM enhancements, broadening the availability of Coupa Spend Guard which deploys AI to analyze employee spend behavior.

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PYMNTS

OCTOBER 8, 2020

EMEA, Asia and the Pacific and Latin America. Feedzai has seen the increase in fraud and scams with the pandemic. The company says its fraud solution works to decrease costs and more efficiently target the activity. percent of users who hadn’t experienced fraud were concerned about it, too. And meanwhile, 35.7

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PYMNTS

JANUARY 19, 2021

That shift has meant merchants must pivot from traditional retail partnerships that have relied on leveraging others’ expertise to build brick-and-mortar infrastructure-focused operations that would include back-end activities such as payments and fraud prevention. And everyone, he said, wants to crack the Chinese market.

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PYMNTS

JANUARY 12, 2018

12) in a blog post that it is making the signature an option — and no longer a requirement — for EMV chip-enabled merchants across North America. As has been noted by the firm and in this space , in the two years since EMV chip cards launched in the United States, fraud has declined by 66 percent. No more signatures. million U.S.

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PYMNTS

APRIL 23, 2020

The health insurance market is even more vulnerable: Up to $68 billion is lost to health insurance fraud each year. Fraud doesn’t just hurt insurance companies, however, as the losses are largely passed on to legitimate customers in the form of increased premiums. Types of Insurance Fraud. How AI Can Limit Insurance Fraud.

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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.

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ATM Marketplace

OCTOBER 23, 2020

ATM Marketplace spoke with Mike Lemberger, senior vice president and regional risk officer for Visa, North America, on ways Visa is helping disrupt fraud before it attacks customer data. This is part two of a two-part series on fraud.

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PYMNTS

FEBRUARY 28, 2020

To get a sense of the new frontiers in cybercrime, and how cryptocurrency helps fraudsters cover their tracks or finance their schemes … look, perhaps, to Latin America. Separately, in terms of fraud against companies, banking trojans, malware and ransomware have been coming from the Latin American region, the paper said.

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ATM Marketplace

OCTOBER 20, 2020

Fraud is something that financial institutes, banks, merchants and consumers regularly battle. ATM Marketplace spoke with Mike Lemberger, senior vice president and regional risk officer for Visa, North America, on ways Visa is helping disrupt fraud when it occurs. This is Part 1 of a two-part series on fraud.

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PYMNTS

FEBRUARY 6, 2019

In addition, cardholders will receive improved anti-fraud benefits, including purchase protection and ID theft protection. Brex also announced that it is releasing new fraud prevention technology, giving cardholders “no questions asked” concierge fraud support so that they aren’t held liable for any identified fraud on their cards.

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Bank Innovation

MARCH 11, 2016

Bank of America and U.S. Bank are the latest banks to sign on to realtime payments, joining Early Warning’s clearXchange network earlier this week. As more banks sign on to the number one name in real-time transactions, the most irksome, time-sensitive financial emergencies may become a thing of the past. Read More.

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BankInovation

OCTOBER 14, 2021

Wells Fargo, Bank of America and U.S. At Wells Fargo, automation helped reduce costs in fraud management, card collection and other areas during the third quarter, according to Chief Financial Officer Mike Santomassimo. Bancorp all highlighted their digital growth and use of the payment platform Zelle in today’s earnings calls.

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American Banker

MAY 22, 2024

Executives from JPMorgan Chase, Bank of America and Wells Fargo are expected to get grilled in Congress this summer over victims of Zelle scams who don't get reimbursed. A Senate panel has spent much of the last year examining fraud on the bank-owned payments network.

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PYMNTS

NOVEMBER 15, 2018

Data: Thanksgiving Day Will See Peak Fraud Attempts. New data shows a projected 14 percent increase in fraud attempts during the upcoming 2018 holiday season, with fraud likely to peak on Thanksgiving Day. Berkshire has around 9 percent stakes in Bank of America and Wells Fargo, and is the top investor in both companies.

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PYMNTS

JULY 29, 2020

Bank of America (BoA) has expanded its mobile wallet use to include corporate customers in the Europe, Middle East and Africa (EMEA) and Asia Pacific (APAC) regions, hoping to enhance clients’ experiences through faster and more secure business transactions, according to a press release. According to BoA, this helps to prevent fraud.

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PYMNTS

AUGUST 5, 2020

Tim Horton , head of global merchant security and fraud solutions at Fiserv , told a recent PYMNTS Masterclass that online purchases have more than doubled year on year in the general retail segment, while online grocery sales have surged by 250 percent. Consumers Demand Fraud Protection . What’s Needed: A Multilayered Approach .

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PYMNTS

MARCH 30, 2020

The collaboration with California-based Stripe enables Keap’s more than 250,000 global customers to pay directly on an order form or invoice, and is designed to help customers improve checkout completion, fight fraud and scale faster, Keap said. Making this process easier and faster is a top priority for our customers.”.

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Chris Skinner

APRIL 3, 2018

Things we’re reading today include … Jeweler to the Stars Flees as India Seethes Over Bank Fraud A Top JPMorgan Blockchain Executive Is Leaving the Bank Canada’s TD Bank Wants US Patent for Blockchain Point-of-Sale System Commonwealth Bank online glitch wipes ‘credit card balances’ Bank of America says Facebook is … The (..)

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ABA Community Banking

SEPTEMBER 12, 2024

Fraud is front and center for America's banks. Paul Benda and Peter Cook discuss several recent initiatives taken by ABA to help banks tackle fraud. The post Podcast: More tools to tackle check fraud appeared first on ABA Banking Journal.

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Abrigo

JANUARY 27, 2020

Network with other BSA/AML and fraud professionals in a relaxed setting. Those are great times to get to talk to other BSA/AML officers and fraud professionals to hear how they handle different situations at their institution in a relaxed atmosphere, away from the office. It won’t take you long to see why either. Cannabis Banking.

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PYMNTS

JUNE 5, 2020

Meanwhile, in Latin America, another place where digital transactions have until very recently lagged behind global averages, 13 million people made their first-ever online purchases in March alone, he said. They are very thoughtful, and they know all the tricks to getting away with fraud. Meeting The Rising Challenges .

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PYMNTS

NOVEMBER 15, 2020

According to the release, Taher Behbehani , head of mobile division, senior vice president and general manager with Samsung Electronics America, said Appstack "is a platform where SMBs can go to get a collection of highly-rated app recommendations, from a partner they can trust.”. Joining up with bigger-name apps can be a boon for startups.

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PYMNTS

MAY 8, 2019

a trucking firm also based in Indianapolis (capital of a state whose motto is “The Crossroads of America”). Williams reportedly was president of a Celadon subsidiary called Quality Companies during the period of alleged fraud. Fraud Allegations. The problems reportedly stem not from FreightRover, but from Celadon Group Inc.,

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PYMNTS

DECEMBER 2, 2020

P97 Networks and Cybersource, Visa ’s international payment and fraud management platform, have unveiled a new multi-year international partnership to provide mobile payment acceptance tools that come with integrated risk management for fuel and convenience merchants, according to a Wednesday (Dec. 2) announcement emailed to PYMNTS.

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PYMNTS

FEBRUARY 17, 2020

But among the most greenfield markets are those found in Latin America, where mobile devices may have high penetration, but traditional banking services do not. Consider the fact that the World Bank has estimated only 55 percent of adults in the Latin America and Caribbean regions have access to bank accounts.

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PYMNTS

APRIL 28, 2020

Weber was most recently head of Financial Crime Prevention for the Americas at UBS, spearheading all facets of sanctions, BSA and AML compliance. He also had previously served as Deutsche Bank’s head of Anti-Financial Crime for the Americas.

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