PYMNTS

FEBRUARY 19, 2020

Not so long ago, payments cyber fraud was done primarily by brute force, through guessing passwords and usernames — a scattershot approach akin to trial and error, conducted by lone individuals or small groups. Fraud is an industry for the crooks now. In the old days, it was ATMs and the point of sale [POS],” he said.

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PYMNTS

JANUARY 22, 2020

The nationwide debit/ATM network PULSE has tapped Jennifer Schroeder to serve as its executive vice president for product management, the company announced Wednesday (Jan. Jim Lerdal will take over the position of executive vice president of operations. Lerdal was vice president of fraud operations and compliance for PULSE.

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ATM Marketplace

OCTOBER 3, 2023

ATM fraud via skimming and other techniques is on the rise. How can operators fight back?

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ATM Fraud How To Operations 95

Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Takeaway 2 A worsening economy increases pressure to commit fraud, provides opportunities to commit fraud, and can be used as an excuse by criminals to rationalize their actions.

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PYMNTS

JANUARY 11, 2021

To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million. As reported, the deal will enable Equifax to boost its global presence in digital ID and fraud prevention, including through the Kount Identity Trust Global Network. In a Monday (Jan.

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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).

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PYMNTS

AUGUST 13, 2018

The Federal Bureau of Investigation (FBI) has issued a warning to banks that cybercriminals are gearing up to launch a choreographed global scam, known as the “ATM cashout,” in which the bad guys hack a bank or payment card processor to make cloned cards that they can use to withdraw money from ATMs around the globe.

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PYMNTS

MARCH 8, 2019

At the same time, new technologies such as biometrics are emerging in the fight against fraud. And an initiative tied to a consortium of companies is looking to redefine how automated teller machine (ATM) applications are built and used. million: The number of ATMs in the world that run on Windows operating systems.

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PYMNTS

JANUARY 19, 2021

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. Another study indicated that debit-related fraud is on the rise across the U.S. Around The Next-Gen Debit World. The report noted that U.S.

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PYMNTS

OCTOBER 20, 2017

ATMs have been around for decades, along with the challenges they pose for financial institutions – including security of a machine that can hold hundreds of thousands of dollars; the financial burden of operating a fleet of such complex machinery; and management of the suppliers, solutions and technologies that go into making an ATM tick.

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PYMNTS

NOVEMBER 28, 2018

The UK’s Financial Conduct Authority ( FCA ) revealed that it has launched investigations into 50 cryptocurrency companies over unlicensed operations. And despite previous reports, Argentina will not be receiving thousands of Bitcoin ATMs (BATMs) by the end of 2019. Last month it was reported that U.S.-based

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PYMNTS

FEBRUARY 3, 2020

Debit card fraud can have far-reaching consequences that extend beyond those of credit card fraud, as debit technologies link directly to customers’ bank accounts. Preventing or minimizing damage caused by fraud is critical to maintaining customers’ trust and loyalty, after all. . Fraud And The Problem Of Convenience.

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PYMNTS

JUNE 30, 2017

FIS, the financial services technology, and Cardtronics, the ATM owner/operator, announced Thursday (June 29) plans to integrate FIS Cardless Cash access across Cardtronics’ ATM fleet in the United States. The FIS mobile banking app acts as a remote control for the ATM, providing privacy and security for consumers.

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PYMNTS

MAY 19, 2016

ATM skimming just got taken to the next level. Kaspersky Lab announced new research regarding a hacker collective, known as the Skimer group, that uses malware to essentially make an ATM steal users’ money. Instead of putting skimmer devices on the ATM, this group makes the entire ATM a skimming device.

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PYMNTS

JANUARY 21, 2020

Advances in fraud decisioning have cybercrooks scrambling into the new arcana of synthetic identities and fiendish mass bot attacks, looking for any possible opening to exploit. Some industries are more prone than others, as we discovered in the latest Fraud Decisioning Playbook , a PYMNTS and Simility collaboration.

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PYMNTS

AUGUST 24, 2020

Automated teller machines (ATMs) are a crucial piece of technology offered by nearly every financial institution (FI), allowing customers to check account balances and withdraw cash at any time of day without having to visit a physical branch. There are more than 10 billion ATM transactions conducted in the U.S. The Advantages Of ITMs.

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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

JANUARY 18, 2017

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. said Renard in the same press release. “In

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PYMNTS

FEBRUARY 3, 2017

Authorities in Asia and Europe have apprehended five members of an international hacking ring accused of sophisticated attacks on bank ATMs that cost the financial institutions hit about €3 million. Finextra reported that one suspect was arrested in Romania, another in Belarus and three in Taiwan.

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PYMNTS

JUNE 17, 2019

Europol, the European Union police organization, is calling for increased security and vigilance in response to a string of attacks on ATMs throughout the continent, according to a report by the Associated Press. In a press release , RBR said the number of ATMs stood at 3.24 More than half of the ATMs are in China, the U.S.,

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Abrigo

AUGUST 19, 2022

Regulators' most recent statement is reminiscent of FinCEN's June 2022 statement on BSA due diligence for independent ATM owners or operators. Just as not all independent ATM owner or operator customers pose the same level of risk, not all independent ATM owner or operator customers are automatically at higher risk.

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Insights on Business

NOVEMBER 22, 2017

The same technology that has helped change the world of payments has also fueled fraud complexity, requiring an increasingly sophisticated anti-fraud response – payments fraud has become a €20Bn ($23Bn) worldwide problem for financial institutions while the fraud detection and prevention market will be worth €28.49Bn ($33.19Bn) by 2021 [1].

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Fraud Payments Innovation Industry 125

PYMNTS

JUNE 6, 2019

Dutch billionaire John de Mol, who created the reality TV program “Big Brother,” is suing Facebook for allowing fake ads which used his name and image to commit bitcoin-related fraud that swindled 1.7 In other news, Vancouver’s mayor is suggesting the ban of bitcoin ATMs, as the city’s police called them an “ideal money laundering vehicle.”.

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PYMNTS

JULY 13, 2016

A group of masked robbers are suspected of using a computer program to hack into ATMs in Taiwan to steal more than $2 million. The thieves are believed to have targeted more than 30 ATMs belonging to Taipei-based First Commercial Bank, The Times Of India reported on Tuesday (July 12). From there, the ATM becomes a skimmer itself.

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BankBazaar

MAY 29, 2022

Here’s a simple step-by-step guide to withdraw money from the ATM using UPI. In the latest feature addition, NPCI has unveiled withdrawal of cash from any bank ATM using just UPI. With the introduction of the new guidelines, customers will now be able to withdraw from any bank’s ATM, not just their own. Enter your UPI PIN.

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PYMNTS

JANUARY 5, 2017

With it, KNET can offer its member banks fraud protection. ACI Worldwide will also deliver ongoing fraud prevention consultancy to KNET. “A KNET will also use the tool to monitor domestic and international transactions across the network.

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PYMNTS

JANUARY 13, 2017

James Chappell, CTO and cofounder of Digital Shadows , joined this week’s Hacker Tracker to shed light on how the latest trend of ATM jackpotting is just the tip of the iceberg for cybercriminals looking to steal larger sums of money with bigger attacks. When Bigger Is Better.

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PYMNTS

NOVEMBER 12, 2019

PULSE , the debit/ATM network that operates as a Discover Financial Services company, said in a press release that it has adopted the FICO Falcon Platform to bring new fraud detection services to its network of more than 4,100 debit issuers. Among the features is real-time scoring. percent in 2017 to 6.7 billion transactions.

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Fraud Study ATM Training 101

Insights on Business

NOVEMBER 1, 2018

Enterprise Fraud Management is being reinvented. Here are some key questions that should be asked of Enterprise Fraud Management vendors: Question #1: How versatile is your data model? Most fraud detection solutions only ingest out-of-the-box transactional data and basic customer and account information.

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NCR

FEBRUARY 17, 2017

That includes growth areas like mobile banking, of course, but also covers traditional cornerstones of retail banking like the ATM. Why the ATM is key to omnichannel. According to Retail Banking Research , the number of ATMs worldwide rose by five percent to 3.2 million in 2015. Image: iStock/Piranka.

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PYMNTS

JULY 29, 2019

These FIs are increasingly relying on AI and automation not only to secure platforms and streamline their back-office operations, but also to improve their customer-facing services. The following Deep Dive explores AI’s fraud-fighting uses and how the technology can offer more personalized services. million customer queries each month.

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PYMNTS

JUNE 2, 2020

In the first five months of the year, cryptocurrency thefts, hacks and frauds totaled $1.4 Ultimately, Wotoken stole an estimated $1 billion in crypto from more than 715,000 victims, with one operator having ties to the $118 million PlusToken Ponzi scheme earlier this year . bitcoin ATMs sent to exchanges last year went overseas.

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PYMNTS

MAY 29, 2020

We have deep dives on Main Street’s digital shift, ATM innovation and PPP loans. Innovating The ATM Beyond Cash. FIs need to have the ability to find and thwart fraud, without accidentally sweeping up legitimate clients. The Flaw In Demonizing Big Tech. How To Keep Fraudsters From Scamming Banks Across Every Nook And Channel .

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PYMNTS

APRIL 18, 2019

Now, an unsealed indictment shows how the Manhattan DA’s office was able to take down the vendor after receiving a tip in 2017 about suspicious ATM withdrawals. Over the course of their operation, the men shipped more than 1,000 packages to buyers in 43 states, and laundered $2.3 via Dream Market, the dark web bazaar.

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NCR

SEPTEMBER 2, 2016

The belated introduction of EMV technology to the US payment industry is currently having a major impact on how merchants, payment providers and other stakeholders in the financial industry approach fraud. But what about the impact of EMV in other areas, such as the ATM. The effect on skimming rate. Image credit: iStockphoto/dobok.

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PYMNTS

FEBRUARY 14, 2017

She comes to Chase Merchant Services with background experience in retail and mortgage business management, consulting, strategy, lean manufacturing, operations, transformation and change management. trillion and features operations worldwide. Prior, Strappa has held positions at GE Capital and McKinsey.

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PYMNTS

NOVEMBER 16, 2020

It will be fully operational starting Monday (Nov. That’s a widely used Brazilian billing-and-payment system supported by banks, ATMs, the post office and supermarkets. “We Kavakama said the new system will also provide a new and improved anti-fraud system. 16) and has already processed 10 million transactions a day.

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