PYMNTS

OCTOBER 7, 2020

With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. So, use your credit card to buy cryptocurrency that you give a scammer and you might be stuck.

Bitcoin 233

Bitcoin cryptocurrency Fraud Cards 233

PYMNTS

JULY 11, 2017

More CFOs are guiding their organizations toward corporate cards in lieu of offering after-the-fact reimbursements via expense reports, The Wall Street Journal recently reported. Research suggests companies are turning to corporate cards for their security as well. Many businesses are turning to virtual cards for these benefits.

Cards 100

Cards Comparison Groups Report 100

NCR

AUGUST 7, 2017

As contactless card transactions become increasingly common in markets such as the UK and on public transit globally, it seems inevitable that there will be growing concerns around the potential for fraudsters to exploit this form of payment. million lost to contactless fraud in 2015. percent of total card fraud in the UK.

Fraud 85

Fraud Cards Security Comparison 85

Abrigo

OCTOBER 22, 2019

Financial institutions should be proactive with their fraud prevention on the dark web. . In recent years, cybercriminals implanted malicious skimming code directly on e-commerce shops and online content management and payment platforms as a way of stealing payment card data at scale. The New Frontier on the Dark Web. get started.

Fraud 150

Fraud Cards Data Payments 150

PYMNTS

SEPTEMBER 30, 2019

A joint study by the Better Business Bureau, the Financial Industry Regulatory Authority and the Stanford Center on Longevity interviewed 1,408 victims of fraud in 2018. By comparison, phone calls — which used to be the most common avenue for scammers — were less successful in cheating people.

Study 145

Study social media Online Fraud 145

PYMNTS

JUNE 20, 2019

percent of those focused on data analytics said they also focused on fraud management solutions in the previous three years, compared to only 60.6 Redwood uses a combination of automated fraud detection and human review, but this is a procedure that could be assisted with artificial intelligence (AI) in the future. In comparison, 89.8

Innovation 100

Innovation Cards Analytics Video 100

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.

Fraud 107

Fraud Management Software Data 107

PYMNTS

FEBRUARY 21, 2020

trillion by 2020, but new sales channels also invite emerging fraud forms. More than $1 trillion is expected to be spent on cybersecurity solutions worldwide between 2017 and 2021 as companies address the need for protections and make major investments in digital fraud-fighting techniques. The Sizable Online Fraud Threat.

Customer Experience 152

Customer Experience Fraud Millennials Online 152

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 93

Fraud Training Cards Data 93

PYMNTS

JULY 3, 2019

By comparison, their satisfaction rate for paper checks is just 63.5 According to respondents, some of the biggest benefits of digital AP innovation include increased speed, convenience and enhanced protection from fraud. percent said they are satisfied paying suppliers via ePayables with virtual cards, 47.9 As much as 73.9

Payments 146

Payments Fraud Innovation United States 146

PYMNTS

JUNE 29, 2020

As things now stand, Wirecard is shaping up to be one of the biggest financial frauds in years, drawing at least some comparisons to Enron from decades past. The New York Times noted on June 26 that stock research services targeting short sellers (who bet that prices will decline) had been signaling that Wirecard was a “house of cards.”

New York 178

New York Comparison Fraud Cards 178

FICO

MARCH 9, 2020

has become a prepaid card store, with rows and rows of gift and other prepaid debit cards on display. In April 2019 The Wall Street Journal reported , “The total amount loaded on general-use prepaid cards in the U.S. This is almost identical to the existing fraud protection provisions for credit cards.

Fraud 52

Fraud Cards Analytics ATM 52

PYMNTS

APRIL 2, 2020

consumers, who made almost 73 billion non-prepaid debit card transactions in 2018 – and the final 2019 number is bound to be bigger. Card networks attract merchants with promises of faster, more accurate debit routing, and merchants pay handsomely to transact across these networks. Debit has never been more popular with U.S.

Cards 130

Cards Comparison Fraud Retail 130

PYMNTS

DECEMBER 8, 2016

gas station owners to install EMV chip card readers at the pump. One point of comfort might rest with the fact that Visa has said that fraud rates at the pump are low in comparison to almost all other points of card activity, comprising about 1.3 percent of total payment fraud in the U.S.

Mobile 100

Mobile Fraud Cards Comparison 100

PYMNTS

MAY 28, 2019

The company integrated GO-PAY into the GO-JEK app, which lets customers store money on their mobile phones, much like a digital debit card. billion – of funds were lost to card fraud in 2018, up from $1.4 Just under $3 billion – or $2.7 billion in 2017. billion in losses around the world last year.

Apple 159

Apple Mobile Fraud Branding 159

PYMNTS

OCTOBER 9, 2020

Among the issues plaguing bitcoin and its peers is the fact that unlike credit card transactions, cryptocurrency payments are almost immediately irreversible. That’s a trait that makes them appealing to scammers who are eager to avoid credit card chargebacks. Lagging Consumer Use Cases.

cryptocurrency 205

cryptocurrency Bitcoin US Security 205

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 70

Fraud Training Cards Data 70

CFPB Monitor

DECEMBER 6, 2022

Earlier this year, New York delayed the effective date of its new law requiring card issuers to provide a grace period for using credit card rewards points that was slated to be effective later this week. The last three bullets of the definition of “modification” extend beyond rewards to the underlying credit card account.

New York 78

New York Cards National Compliance 78

FICO

JUNE 26, 2018

But the global adoption of such schemes, alongside the problems suffered by early adopters, has turned the focus to real-time payments fraud. As discussed in my earlier post , real-time payments make multiple types of fraud more attractive and enable the fast movement and laundering of criminal proceeds. Who Is Liable?

Fraud 63

Fraud Payments Regulation Customer Experience 63

FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment). Possession – something you have (e.g

Fraud 52

Fraud Survey Cards Customer Experience 52

PYMNTS

MAY 11, 2018

” Though South Korean authorities raided the exchange due to concerns over fraud, the South Korean Financial Supervisory Service did not reply immediately to a request for comment by CNBC. By comparison, the cryptocurrency’s value was around $7,600 in February, a level that represented a new two-month low.

Bitcoin 101

Bitcoin cryptocurrency Comparison Taxes 101

PYMNTS

SEPTEMBER 14, 2018

Hotel price comparisons are also included in the feature, allowing users to see their prices stacked up against others on a gradient: low, typical and high. American Airlines , for instance, has used rewards and promotions in an effort to boost credit card payments on flights. Elsewhere in the travel space, many major U.S.

Payments 108

Payments Google Comparison cryptocurrency 108

FICO

APRIL 13, 2022

If we look at the current numbers against the wider backdrop of card fraud, they are fairly low in comparison. For example, in the UK, data from UK Finance revealed that in 2020 there was a total of £574 million lost through card fraud. Of this, only £16 million represented contactless payment fraud.

Fraud 52

Fraud Marketing Payments Cards 52

BankBazaar

JULY 11, 2019

Myth 2 – Credit Card Balance Is Good For Your Credit Score. Nopes, while keeping your Credit Card active is wonderful for your Credit Score , not clearing your balance is not the best thing to do. Additional Reading : Credit Cards – The Myth And The Legend. In comparison, payments modes such as Credit Cards are far safer.

Management 99

Management Cards Comparison Taxes 99

PYMNTS

SEPTEMBER 30, 2019

trillion by 2020, which has prompted some online marketplaces to work on resolving fraud repercussions. Extensive research is then conducted on each item’s style and brand, which includes side-by-side comparisons and critical examination,” said Co-Founder Lindsay Segal in an interview with PYMNTS. Counterfeit fraud dollars for all U.S.

Online 101

Online Fraud Branding social media 101

FICO

JULY 2, 2018

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has a long track record of successful use. Recently, however, there has been so much hype around the use of AI and machine learning in fraud detection that it has been difficult for many to distinguish myth from reality.

Fraud 52

Fraud Analytics Training Strategy 52

FICO

APRIL 12, 2017

IDC predicts that in 2017, behavioral analytics across compliance, fraud, and cyber detection and prevention will be in place at 15% of banks, helping them to avoid losses, regulatory fines and sanctions. Banks have already made a big start in the fraud space. Power at scale: Enhancing fraud, compliance and cyber security defenses .

Analytics 49

Analytics Fraud Compliance Comparison 49

FICO

APRIL 20, 2021

In comparison, 2018 saw 66.8 As customer adoption to open banking accelerates across the UK and Europe, there is no better time than now to pause and make sure all the necessary controls are in place for the continued growth, including an enterprise fraud strategy. . This is the essence of an enterprise fraud strategy.

Fraud 52

Fraud Strategy Management Compliance 52

FICO

DECEMBER 21, 2020

Predicting the future is an annual pursuit at FICO, and this year my 2021 fraud predictions for the European region reflect how some of the broad trends that shaped 2020 will mutate into specific fraud challenges in the coming year. Prediction 1: Scams Will Become the Leading Fraud Type — and Not Just in the UK. by Matt Cox.

Fraud 52

Fraud Trends Comparison Compliance 52

PYMNTS

AUGUST 15, 2018

It builds profiles based on customers’ gestures, using them as comparison tools whenever a consumer revisits the site. In addition, there will be further requirements for contactless payments, including asking the user to enter their PIN (or use their fingerprint) to verify every fifth transaction made on the card.

Fraud 112

Fraud Software New York Security 112

CB Insights

AUGUST 3, 2017

At $235M in funding and a post-money valuation of $500M (as of Q1’16), Brazil-based Nubank has raised the most funding on this list, and focuses on providing digital banking services and a no-fee mobile-only credit card. PayClip offers PoS payments solutions (such as a mobile card reader) and has raised $46M. Anti-Fraud.

Company 65

Company Fintech Comparison Marketing 65

Gonzobanker

JUNE 16, 2022

In 2020, Aspiration initiated two new programs: Plant Your Change , which plants a tree for every purchase by rounding up to the nearest dollar, and Planet Protection , which makes Aspiration customers’ driving carbon neutral by calculating off their debit card gas purchases. It’s not an apples-to-apples comparison. African Americans.

Fintech 147

Fintech Apple Cards Data 147

FICO

NOVEMBER 7, 2022

Fighting Scams and Authorized Push Payment Fraud in the US. US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? In multiple geographies around the world, there has been a strong focus on authorized push payment fraud.

Fraud 52

Fraud US Payments South Carolina 52

PYMNTS

JUNE 25, 2019

About a fifth, by comparison, had used Venmo for gambling. The report noted that “one interesting point is that any and all transactions made on Venmo will be on file, like a payment made with a credit card. Anyone with a bank account and debit card can use Venmo, a likely factor in its P2P reach.

Payments 115

Payments Marketing Millennials Trends 115

FICO

JULY 3, 2018

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has a long track record of successful use. Recently, however, there has been so much hype around the use of AI and machine learning in fraud detection that it has been difficult for many to distinguish myth from reality.

Fraud 45

Fraud Analytics Training Strategy 45

FICO

SEPTEMBER 27, 2018

Employee purchase cards (P-Cards) are work credit cards that are provided by most universities and state governments to many of their employees for smaller, routine purchases. These P-Cards can streamline the process of making purchases, saving the organization both time and money. Employee Purchase Cards - Why Use Them?

Cards 53

Cards Analytics Examples Comparison 53

PYMNTS

JANUARY 22, 2020

Over the last years, that shift [has intensified],” Parsons said, noting that about two generations ago, the first payment card was not even plastic, but paper — something most consumers today are unable to recall or likely believe. Shift Intensity. Trust Issues.

Retail 137

Retail Millennials New York City social media 137