PYMNTS

JUNE 3, 2019

For credit unions (CUs), data analytics can deliver that insight, helping them to more effectively address their members’ specific needs, and informing CUs of the products and services that can deliver the most effective returns on their investments. percent of CUs that did not focus on data analytics. For example, 91.7 Meanwhile, 80.6

Analytics 150

Analytics Innovation Data Fraud 150

Abrigo

OCTOBER 22, 2024

Their contributions are massive, and if you’ve ever worked with AML Officers and fraud professionals, you know just how vital they are. Every day, I’m reminded of the critical role the teams at our 2,500 bank and credit union customers play in anti-money laundering (AML), combating the financing of terrorism (CFT), and fraud prevention.

Security 221

Security Fraud Community National 221

PYMNTS

OCTOBER 15, 2018

Recent reports indicate an uptick in fraudsters targeting large FIs, and headlines surrounding security breaches and cyberattacks fill the news on a near-daily basis. Visa and Mastercard designed the 3DS protocols and provide them under the names Verified by Visa and Mastercard Secure Code. s upgrades, however. For example, 3DS 2.0

Fraud 165

Fraud Security Mobile User Experience 165

PYMNTS

MAY 4, 2020

Advances in technology are making consumer transactions seemingly more secure, but cybercriminals are still finding sophisticated ways to beat systems and commit financial fraud. A 2018 study on payment fraud mitigation reported that 75 percent of financial institutions (FIs) experienced fraud losses.

Analytics 141

Analytics Data Security San Diego 141

PYMNTS

JUNE 19, 2018

Fraud has no choice but to roll with the punches, and the flurries are enough to daze a boxer as skilled as Ali. By now, it’s widely known that chip-enabled cards have been pushing fraud to digital conduits. Pity the poor fraudster. Get a toehold in a consumer’s account with a card and whammo, here comes EMV.

Fraud 138

Fraud Analytics Online Cards 138

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up. Instances of APP fraud around the globe have continued to rise as real-time payment rails extend their reach.

Fraud 223

Fraud Payments Survey Security 223

PYMNTS

JULY 15, 2020

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. .

Fraud 250

Fraud Course Online Data 250

PYMNTS

SEPTEMBER 24, 2018

Perhaps more troubling, however, is digital fraud’s projected future. Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions.

Fraud 195

Fraud Security Analytics Data 195

PYMNTS

OCTOBER 21, 2020

This year has been even worse on the fraud front,” we learn from the new PYMNTS Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , “as financial crime stresses FIs that are already confronting the pandemic, economic struggles and an unpredictable political climate. It’s a major focus of players in the space.

Fraud 140

Fraud Security Mobile Tools 140

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3 billion in fraud losses in 2022. billion in 2021.

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

DECEMBER 9, 2020

9) that it’s successfully completed its acquisition of GIACT and has expanded its suite of products for fraud prevention and identity verification. GIACT’s real-time payment analytics are a great addition to our existing strength in anti-money laundering and digital identity verification,” he said, according to the release. “We

Fraud 200

Fraud Analytics Security Online 200

PYMNTS

APRIL 15, 2020

While there is no shortage of new things in the world to get used to these days, cybercrime and fraud are, unfortunately, not among them. The good news, both Srinivasan and Awad told PYMNTS, is that while fraud attempts are up among U.S. consumers, fraud losses are not, yet. million pounds out of the unwitting. The New Normal.

Fraud 201

Fraud Risk Management Security Cards 201

PYMNTS

SEPTEMBER 20, 2018

ProfitStars , the Jack Henry & Associates division that provides risk management solutions for financial institutions, announced its latest fraud tool on Wednesday (Sept. The iPay ESM tool helps those institutions fight fraud while maintaining compliance with the Federal Financial Institutions Examination Council (FFIEC), the firm said.

Fraud 156

Fraud Online Analytics Tools 156

PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. A Big-Picture Approach To Thwarting Debit Fraud.

Security 182

Security Fraud ATM Cards 182

PYMNTS

JANUARY 8, 2021

Equifax has inked a deal to purchase artificial intelligence (AI)-powered fraud prevention and digital identity technology provider Kount for $640 million. As digital migration accelerates, managing authentication and online fraud while optimizing the consumer's experience has become one of our customers' top challenges,” Equifax CEO Mark W.

Idaho 295

Idaho Fraud United States Customer Experience 295

BankInovation

MARCH 2, 2022

The Bank of Montreal saw improvements in its fraud monitoring once it started using the Pindrop platform and banking consortium data in its workflow. CHARLOTTE, N.C.—The

Analytics 98

Analytics Fraud Charlotte Security 98

PYMNTS

JUNE 20, 2019

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

Fraud 182

Fraud Payments Cards Strategy 182

PYMNTS

MARCH 15, 2019

The new Digital Fraud Tracker highlights the latest developments in payments fraud, and how different companies are working to keep funds safe from bad actors as payment solutions grow increasingly faster. Around the World of Digital Fraud. Australia’s CNP fraud problems seem to be part of a broader pattern.

Fraud 153

Fraud Payments Security System 153

PYMNTS

MAY 5, 2020

“Credit unions across the country are on high alert for scammers looking to take advantage of members during the pandemic and are stepping up fraud prevention efforts as a result,” according to PYMNTS’ April Credit Union Tracker® done in collaboration with PSCU. This, in turn, helps mitigate fraud.”.

Fraud 239

Fraud Analytics Boston Data 239

Abrigo

SEPTEMBER 20, 2023

How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Takeaway 3 Prevention and detection best practices can curb hard dollar 1st-party fraud losses while protecting clients.

Fraud 195

Fraud Cards Trends Software 195

Abrigo

MARCH 23, 2017

With the increased availability of useful data, analytical review procedures are becoming more important during the audit process. For example, greater emphasis on analytics encourages and almost demands that the auditor improve the quality of their professional judgment and skepticism. A WAY TO OVERCOME BIAS IN THE AUDIT PROCESS.

Analytics 150

Analytics Technology Data Study 150

PYMNTS

NOVEMBER 16, 2020

Fraud targeting digital banking users has been around as long as digital banking itself, but it has recently become more prevalent. The pandemic is exacerbating the problem, with a study finding that 22 percent of Americans were the targets of pandemic-related fraud attempts as of March. APP fraud is not a new occurrence.

Fraud 182

Fraud Security Strategy Digital Banking 182

PYMNTS

SEPTEMBER 24, 2020

Fraud Threats To Digital Banking. Social Security numbers. Another threat is identity fraud, in which bad actors will either steal an individual’s identity or forge a new one, and then use it to open new accounts or apply for fraudulent loans they have no intention of paying back. Identity fraud accounted for $16.9

Video 205

Video Fraud Digital Banking System 205

PYMNTS

DECEMBER 17, 2020

Fraud protection specialist Kount and Philadelphia-based payments platform FreedomPay are teaming up to offer “an integrated, complete solution to enable international expansion with fraud-free payments and frictionless customer” experiences.

Fraud 174

Fraud Payments Philadelphia social media 174

Abrigo

JULY 10, 2020

Community banks and credit unions partnered with their communities to help families and businesses through these unprecedented times , causing spikes in consumer fraud that must be faced head on. According to the new advisory , t wo fraud typologies are trending: imposter scams and money mule schemes. Learn more. Learn More.

Fraud 195

Fraud Lending Software Analytics 195

PYMNTS

JANUARY 14, 2021

Location, Location, Location: How Location Data Can Help Banks Prevent Online Fraud , a study by PYMNTS and GeoGuard , found that 55 percent of U.S. Customer communication, education and assured security are the keys to unlocking geocoding’s valuable analytics and ability to capture market share. Gaining Consumer Trust.

Analytics 170

Analytics Data Study Millennials 170

PYMNTS

MARCH 1, 2019

Cybersecurity returned to the top of the B2B startup investment list as three companies in the enterprise security realm landed nearly half of the $246 million in B2B venture capital this week. Cequence Security. Also operating in the enterprise security space is Cequence Security, based in California. Contrast Security.

Security 189

Security Capital Software Analytics 189

PYMNTS

JUNE 22, 2020

It’s the battle against fraud that can be lost right at the beginning. There’s increased urgency on the part of financial institutions (FIs) to spend more time and money on battling fraud at the point of onboarding, especially as card-not-present transactions surge in the lingering wake of the coronavirus. alone topped $10.2

Fraud 193

Fraud Cards Risk Management Customer Experience 193

PYMNTS

JUNE 26, 2019

Anti-money laundering, data security, mobile/digital payments, fraud-fighting and payment tech rounded out the top five — with each ranking as a lead priority for over 50 percent of credit union executives. Where Analytics Are Working. Where Analytics Are Working.

Analytics 118

Analytics Data Tools Fraud 118

Abrigo

MARCH 29, 2017

As t echnology-enabled analytics (“analytics”) have gained momentum in audit firm practice management, McLaughlin explained that “data analytics are the panacea for the challenges we face as they reduce budgeted hours and risk by efficiently guiding firms in identifying the areas at most risk for misstatement.”

Analytics 150

Analytics How To eBook Fraud 150

Bank Innovation

APRIL 17, 2017

Fraud campaigns targeting online financial services tend to be smaller, and subtler than fraud campaigns conducted for other online platforms.

social media 191

social media Big Data Fraud Analytics 191

PYMNTS

NOVEMBER 26, 2019

As consumers embrace real-time transactions, financial institutions (FIs) must recalibrate their fraud-fighting strategies. In an interview with PYMNTS, Kannan Srinivasan, senior director of risk strategy and analytics for Fiserv , said the bad guys are constantly shifting tactics — so the battle must be joined on several fronts.

Fraud 152

Fraud Payments Strategy Online 152

PYMNTS

NOVEMBER 3, 2017

It was a busy time for B2B venture capital this week, and while funding ranged across verticals from expense management to SaaS, there was a clear theme in investment rounds: high-tech data analytics. Expense Management. Using AI, Glint provides employee engagement solutions for its enterprise clients.

Analytics 189

Analytics Data Capital San Francisco 189

PYMNTS

DECEMBER 20, 2019

To add protection from targeted fraud, automated attacks and botnets to its portfolio of application services, F5 will acquire fraud and abuse prevention company Shape Security. Shape, for its part, protects the biggest airlines, retailers, government agencies and banks with complex fraud, abuse and bot defense.

Security 131

Security Fraud Analytics Data 131

PYMNTS

NOVEMBER 17, 2020

But, as three banking security experts told Karen Webster, that same trillion-dollar loss represents a significant authentication opportunity for financial institutions (FIs) if they leverage risk-based authentication and behavioral analytics to help shape and safeguard the great digital shift.

Fraud 195

Fraud Mobile social media Security 195

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

PYMNTS

MARCH 20, 2020

Fraud attacks’ frequency and complexity will likely continue to rise despite merchants’ best efforts to prevent them. The Latest Fraud Decisioning Developments. The United Kingdom’s RELX , an information and analytics firm, has meanwhile purchased fraud prevention firm Emailage to boost its own anti-fraud efforts.

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Industry Fraud social media Security 225