Abrigo

DECEMBER 28, 2022

Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog. The blogs your FinCrime peers are reading.

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PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. A team of analysts can only handle so many potential fraud cases at a time, after all. . resources.

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

MARCH 12, 2020

Payment processors expanding their operations into new industries and markets have their work cut out for them, however. Each sector and country encounters different fraud types that providers must be ready to detect and thwart. The different social dynamics and payer behaviors change the way fraud behavior works,” he explained. .

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PYMNTS

OCTOBER 24, 2018

When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. The rule of thumb here is that after committing account takeover fraud, those fraudsters lie in wait before using the stolen account.

Fraud 159

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Perficient

APRIL 2, 2021

fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. AI technologies, such as voice recognition and natural language processing (NLP), are being used to improve customer experience and to gain operational efficiencies. Textual analysis.

Regulation 309

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Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? Instant payments service What is FedNow?

Fraud 195

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PYMNTS

DECEMBER 17, 2019

In a new PYMNTS discussion, she and Karen Webster spoke about online fraud trends for the 2019 holiday season — and the prospect that the 2019 winter holidays will see the worst levels of online fraud ever. “We We are going to see another big year of fraud this holiday shopping season,” Xie told Webster. Growth Factors.

Fraud 136

Fraud Retail Online Analysis 136

PYMNTS

NOVEMBER 23, 2020

AI is not only being adopted to improve workflows and grow revenues, but has also been enlisted in the fight against fraud.”. The surge of digital orders carried a toxic tide of fraud, and many companies turned to supervised machine learning to deal with it. This establishes identity trust or risk in real time.

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PYMNTS

APRIL 26, 2019

operations. In a letter on its webpage, Sinemia said it was ending operations in the U.S. While we are proud to have created a best-in-market service, our efforts to cover the cost of unexpected legal proceedings and raise the funds required to continue operations have not been sufficient. The competition in the U.S.

Operations 122

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PYMNTS

MAY 7, 2020

Emerging uses of adaptive AI and other new tech is set out in the new FI Fraud Decisioning Playbook , a PYMNTS and Simility collaboration, as financial institutions (FIs) and their clients ready for reopening by modeling good customer behavior to help identify bad actors. Learn by Example.

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Fraud Tools Data Examples 248

PYMNTS

JANUARY 23, 2020

The January AML/KYC Tracker examines 5AMLD’s significance, as well as other efforts to thwart the fraud attempts challenging the financial sector. Worldpay On Modernizing Security To Foil eCommerce Fraud. Around The AML/KYC World. Fiat-focused digital wallets must also boost their security. Get the full story in the Tracker.

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PYMNTS

DECEMBER 14, 2020

The Federal Trade Commission (FTC) has announced a new operation, Operation Income Illusion, to crack down on fraudsters targeting victims with fake promises of jobs or income, according to a press release. Fraud during the pandemic has been especially prolific because of the chaos created so quickly early on.

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Fraud Operations Analysis Study 192

PYMNTS

JANUARY 18, 2021

People in general are more aware of — and concerned about — fraud as we pass through a second season of COVID, and eCommerce continues to rack up impressive stats, good and bad. New threats are evolving all the time,” KP Brendel, director of marketplace operations at online thrift and consignment storefront Swap.com, told PYMNTS. “New

Fraud 144

Fraud Security Study Retail 144

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. The emergence of modern alternatives to traditional credit scoring signifies a broader movement toward financial inclusion.

Trends 221

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PYMNTS

DECEMBER 1, 2020

Kount , which works in digital fraud protection and identity trust, announced today (Dec. With the new program, friction can be cut and users can look at omnichannel options and fraud prevention efforts.

Data 234

Data Fraud Customer Experience Analysis 234

PYMNTS

DECEMBER 5, 2017

Through improving technology and decreasing costs, AI and Big Data are now combining to help firms in the financial sector prevent payments fraud. But now, AI has become more attainable as a tool that companies can tailor to their own operations. It’s no secret that traditional methods of fraud detection are inefficient at best.

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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

OCTOBER 29, 2018

Payments and commerce fraud has its own ecosystem, one that includes criminals, servers and other computing devices, IP addresses, compromised payment cards and stolen personal data, and even houses and other physical locations. The Biology Of Fraud. Fraud prevention is getting more sophisticated, and at a fast clip.

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Fraud Technology Data Risk Management 199

PYMNTS

MAY 28, 2020

Social distancing mandates during the COVID-19 pandemic have advanced banking’s trend toward omnichannel operations. This means FIs and account holders must communicate effectively regarding potential fraud and work together to thwart it. Staying ahead of fraud requires constant innovation. Red Flag Behaviors.

Fraud 139

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Perficient

MAY 15, 2023

to more accurately perform “bigger picture” predictive analysis. Risk & Fraud Prevention. Want to learn more about financial services industry-specific considerations for improving operational efficiency through data optimization? Institutions can also compare their customer data with external data (ie.

Data 275

Data Conference New York City New York 275

PYMNTS

APRIL 25, 2019

Today, the internet makes discovering and then executing creative ideas not much more than a mouse click away — which makes exploiting death for the purposes of identity fraud easy, too. The interview comes amid heightened attention to synthetic and other growing forms of digitally-based fraud. Many Victims.

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Fraud Strategy Cards Analysis 226

South State Correspondent

JANUARY 23, 2023

How Bankers Will Use This Amazing Tool Bankers can use ChatGPT in various ways to improve their productivity, operations, and customer experience. 9) Keywords and Sentiment Analysis: Another great use case for ChatGPT is to analyze a block of language and return a required verbiage analysis.

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Tools Examples Data Analysis 370

Perficient

APRIL 8, 2024

Addressing these deficiencies required a comprehensive approach, leading to the establishment of critical programs like the US Bank Holding Company (BHC) regulatory and comprehensive capital analysis and review (CCAR) program. Supporting the change management team in building a robust governance structure for program PMO activities.

Compliance 221

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Perficient

NOVEMBER 19, 2024

The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks. Japan currently has yet to pass a law or regulation specifically directed to regulating the use of AI at financial services firms.

Regulation 221

Regulation Guidelines System Compliance 221

PYMNTS

JANUARY 21, 2021

Financial institutions (FIs), FinTechs and other businesses that are looking to enable these rapid payments must therefore ensure that their security and fraud-fighting approaches are up to the challenge. The Deep Dive examines the various fraud schemes threatening these apps as well as how providers are working to strike back.

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Fraud Security Payments United States 231

PYMNTS

FEBRUARY 9, 2018

Telematics company Airmax says fleet card fraud will be “a thing of the past” thanks to technology. Airmax Remote’s technology delivers complete accuracy and definitive reporting to identify fuel savings for fleet operators.”. “We Fraud could be causing more than 5 percent in fuel savings for businesses, researchers noted.

Fraud 100

Fraud Cards Survey Management 100

South State Correspondent

OCTOBER 16, 2024

To support debit card operations, a bank gets charged a myriad of transaction charges and maintenance fees from the card rails (Visa, Mastercard, Discover, etc.), Materials, training, and fraud also contribute to bank expenses. the network (Interlink, Pulse, Shazam, etc.) and the bank’s processor (usually their core).

Cards 195

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PYMNTS

JANUARY 27, 2020

New analysis from Bank Info Security , for instance, revealed that BEC scammers have begun to target corporates’ financial documents from accounts receivable departments to identify unpaid invoices, as well as information regarding Days Sales Outstanding and clients. The Business Email Compromise (BEC) continues to evolve.

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PYMNTS

JUNE 19, 2020

Merchants looking to expand their operations at home and abroad must be able to support their customers’ preferred payment methods, but doing so is no easy feat. Cybercrime has been growing during the pandemic, with instances of fraud on the rise and the average value of attempted fraudulent transactions having increased by $26.

Payments 188

Payments Compliance Resources Fraud 188

PYMNTS

MAY 23, 2018

As the speed of payments increases around the world, the potential scope of fraud shifts to targets beyond cards. Faster payments does not necessarily mean more fraud,” Kearns said. “It Such a view enables an organization to spot idiosyncrasies that other types of fraud prevention technologies might miss.

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Fraud How To Payments Big Data 118

PYMNTS

OCTOBER 4, 2017

Fighting payments fraud can be a daunting battle – especially if the battle is waged with reactions. To that end, Mastercard announced on Monday the debut of its Early Fraud Detection System. An effective, layered approach to security is necessary to catch fraud as it occurs and reduce compromises.

Fraud 112

Fraud Cards System Data 112

PYMNTS

FEBRUARY 27, 2018

The latest report from eNett International , “ It Pays To Know: Fraud In Travel Payments ,” warns that payments fraud is plaguing the global travel space, though, in this case, the issue is imbedded deep within the travel supply chain itself. B2B Payments a Major Pain Point.

Fraud 104

Fraud Marketing Payments Analysis 104

PYMNTS

OCTOBER 22, 2018

With financial crime on the rise, CGI HotScan360 aims to deliver integrated, intelligent and real-time anti-money laundering (AML), customer due diligence and fraud detection capabilities. It includes options such as CGI’s Protect the Bank solution, which provides AML and real-time fraud protection through transaction monitoring.

Fraud 109

Fraud Compliance Meeting Regulation 109

PYMNTS

JUNE 22, 2017

There’s another way, though, in which the fear of fraud bears down on the enterprise. A new report from Vesta Corporation finds fraud positions itself in the way of innovation and growth, even compliance. to understand how payments fraud is limiting corporates’ path to success. cents per every $100 transacted.

Fraud 108

Fraud Innovation Survey eBook 108

PYMNTS

AUGUST 4, 2020

Financial institutions (FIs) plan to spend 15 percent more protecting their computer networks in 2020 than they spent in 2019, according to a report based on the results of a survey conducted by Deloitte & Touche LLP and the Financial Services Information Sharing and Analysis Center.

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PYMNTS

JUNE 23, 2020

BlackBerry Optics Context Analysis Engine (CAE)’s harnesses Intel Threat Detection Technology’s “unique CPU telemetry” to find advanced cryptojacking programs.

Bitcoin 188

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PYMNTS

NOVEMBER 9, 2017

According to Kyriba and researchers at CFO Research , who surveyed 167 financial executives at companies with up to $5 billion in annual revenue, there is a clear winner in terms of what the board of directors is most concerned about in terms of CFO responsibilities: fraud. ” Their concerns aren’t baseless, either.

Risk Management 107

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