PYMNTS

NOVEMBER 30, 2020

Shoppers may be reluctant to hand over their card details to every online retailer, as each transaction represents another risk that consumers’ information could be exposed in a breach. Virtual Card Payment Trends. Merchants’ efforts to please shoppers have ushered in a wave of virtual card activity in recent months, Knutson said.

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PYMNTS

DECEMBER 9, 2020

This has accelerated the need for spend management solutions and payment tools that enable businesses to review and approve transactions in real time, Caleb Jenkins , leader of client accounting services for tax and accounting firm RLJ Financial , said in a PYMNTS interview. Bringing Virtual Cards To A Virtual B2B World.

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Cards Management Tools Data 155

PYMNTS

NOVEMBER 20, 2018

With payment bigwigs like Visa , Mastercard and American Express pushing further into the B2B payments space, commercial card adoption is being driven by more than growth in the number of card products available. “It streamlines payments and ease of paying by card,” Weiss told PYMNTS in an interview.

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Cards Fraud Taxes Data 118

PYMNTS

SEPTEMBER 15, 2020

Consider the fact that in Mexico it can take four to six months to open a business account — and as much as a year to get access to a debit card. As Poovala told Webster: “We had to get a debit card by actually creating our own startup. It’s been 20 months, and we tried to get a debit card from some of the largest banks.

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System Operations Fintech Taxes 258

FICO

MARCH 16, 2018

Social Network Analysis (SNA) tools hold the potential to help tax and revenue agencies identify non-compliance and tax fraud. These tools have been proven to be effective in fraud detection¹, but to date haven’t been utilized to any large degree at tax agencies. Opportunities for Tax Agencies.

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Analysis Taxes Fraud Compliance 45

PYMNTS

MARCH 18, 2020

Fraud is a perennial concern for quick-service restaurants (QSRs), and digital channels open ample new avenues for cybercrime, with hackers targeting restaurants for their cash, data and even customers’ loyalty points. The following Deep Dive explores the different types of social engineering fraud and how restaurants can combat them.

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ZootBlog

MAY 18, 2016

This is the first in a two-part series as we look more deeply at fraud concerns and best practices for managing this ever-changing threat. Over the past couple of weeks we’ve been discussing fraud mitigation strategies on ZootBlog—everything from EMV chip cards to encryption, tokenization, and biometrics.

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Fraud Taxes United States Study 67

FICO

MARCH 25, 2022

While it may seem like an esoteric topic, explainability in fraud management is important – and it’s especially relevant when it comes to using AI and machine learning in fraud detection and prevention. In other words, a fraud management system isn’t a black box. Effective Fraud Management Requires Explainable Technology.

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Fraud Management System Course 52

Abrigo

MARCH 22, 2023

A well-known example of a TBML system is the Black Market Peso Exchange , where U.S. For example, a seller exports $100,000 of goods to the buyer but only invoices the importer $10,000. Trade-based money laundering is the process of moving illegal funds through the international trade system to legitimize them.

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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.

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Tomorrow's Transactions

OCTOBER 5, 2016

For example, paying rent or a telephone bill in cash only sparks scolding looks. But obstacles are present even when making smaller purchases such as groceries (where cash-only lines are the longest) or when paying for parking – impossible without a card. Is card fraud really a barrier to cashlessness? Is this true?

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Fraud Cards America US 54

PYMNTS

AUGUST 5, 2019

Fraud comes in many flavors, and a payments-related lawsuit arising from the growing business of legal, recreational marijuana is proof of that point. But federal law still views marijuana as an illegal substance, which prevents most financial institutions, payment card networks and other providers from taking part in those sales.

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PYMNTS

JANUARY 30, 2020

An employee’s accidental use of her corporate card to pay for groceries isn’t a crime, but it does fall under the heading of “ friendly fraud ,” which creates friction for the accounting department. PYMNTS research found that 42 percent of B2B payments were made via paper check in 2019, for example.

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MyBankTracker

JUNE 27, 2020

Not all airline miles and credit card points are the same. Still other types of credit card points are best used to transfer to airline and hotel partners. In this article, we’ll investigate these transferable credit card points. Many transferable credit card points can also be used in other ways. cents per point.

Cards 52

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FICO

MARCH 29, 2020

So it’s with the top focus of safety and health in mind that I implore you to: Stay vigilant about fraud. Social engineering and attempts to get you to disclose personal information that will facilitate financial fraud are rampant and even include creative attempts at COVID-19 tax refund schemes. by Liz Lasher.

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Fraud Google Taxes Cards 92

PYMNTS

JANUARY 8, 2018

Credit Karma said yes to early tax refunds for consumers – for free. Good Tax Lending Karma. Good news for consumers avidly awaiting their tax refund for 2018: Credit Karma Tax is rolling out a new product call Earlybird Advance, an online refund advance service. And that was just Tuesday.

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PYMNTS

FEBRUARY 22, 2019

Internal Revenue Service (IRS) said that ahead of tax season, preparers and other victims received requests to change direct deposit activity. News comes this week from Mississippi that state workers are being targeted by similar fraud attempts. In December, the U.S. The IRS cited “spoofed” addresses that seemed official.

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Mississippi Minnesota Fraud Report 135

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. UPbit services, such as all transactions and withdrawals, are operating normally. Your assets are kept securely in your account.”

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PYMNTS

DECEMBER 1, 2016

For corporate payments, that could mean more accurate cash flow forecasting, fraud identification or more efficient reconciliation. Last week, Voyage Manager announced that it can now use transaction and expense data from cards used while traveling to add another layer of visibility into where employees are.

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Data Cards Taxes Management 100

PYMNTS

OCTOBER 10, 2018

When it comes to business-to-business (B2B) transactions, paper checks are often the villain, cards an expensive but quick underdog, and ACH and its non-U.S. billion via business wire fraud between October 2013 and December 2016, the FBI calculated. Thieves attempted to steal $5.3

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PYMNTS

MARCH 5, 2019

Expectations can differ from region to region regarding timing of payments, taxes, currencies, regulatory differences – and we look at all of those variables.”. She stated, too, that a fraud detection team is tasked with watching for and preventing account takeovers. An example of a regional nuance is our Brazilian market.

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Regional Mobile Security Fraud 148

South State Correspondent

FEBRUARY 14, 2022

Businesses and households that need an inventory, valuation, repair, or risk tracking (fraud, theft, etc.) Credit card networks like Visa, Mastercard, and American Express have created a whole layer of value by extracting this data. would all benefit from a standardized record of assets under ownership. How Banks Are in The Middle.

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blockchain cryptocurrency Data Payments 195

BankBazaar

SEPTEMBER 4, 2019

For example, you can involve them in day-to-day purchases like groceries, toiletries, etc. Also, explain how Debit Cards work and how to safeguard all the important information to protect oneself from any fraud. Credit Cards. Teens need to know how to handle Credit Cards responsibly. The Basics Of Investing.

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PYMNTS

MAY 16, 2018

The rest, says Pappano, are going to be scrambling to catch up so they can start to enjoy the potential new tax revenues that legalized gambling can create. Tax revenue is a powerful motivator. Fraud Isn’t A Problem. Around 20 states have already passed laws or have pending legislation around online gaming and sports wagering.

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PYMNTS

NOVEMBER 7, 2019

More than 25 percent of Brazilians lack bank accounts, and only 20 percent carry credit cards that can be used for international purchases. Other consumers’ cards only transact in the domestic currency, requiring overseas businesses to find local partners to enable payment acceptance. Attracting Customers With Boleto Bancário.

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PYMNTS

NOVEMBER 16, 2017

For example, Wu said, “When we started to sell furniture, we thought, well, let’s see if people want to buy it, and then we’ll figure out how to ship it.”. International vendors, Wu said, have little trust; they insisted on payment in advance, typically by wire or credit card. It was a nice crash course early on,” Wu said.

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PYMNTS

SEPTEMBER 6, 2019

Visa: Chip Cards Reduce Counterfeit Fraud By 87 Pct. Chip cards are now accepted at more than 3.7 Report: The Risky Business Of Navigating Online Sales Tax For Merchants. million sellers active on Amazon , for example, and more joining every day. That’s an 825 percent increase. Trackers and Reports.

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PYMNTS

DECEMBER 11, 2019

Eika Group will connect member banks to EedenBull’s range of tools, including employee expense management and business card spending solutions, so they can link those technologies to their customers. Penta Integrates SumUp’s POS. Alliance Bank Taps Into Ephesoft Data Capture.

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Fintech Groups Data Strategy 132

PYMNTS

OCTOBER 7, 2020

A drug dealer might open up a nail salon, for example, then put his drug money into the salon’s cash flow and report it to the Internal Revenue Service as revenue from salon customers. This means individual transactions are unlikely to pop up on regulators’ or tax officials’ radar, thus keeping the operations under wraps.

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PYMNTS

FEBRUARY 7, 2020

Patrons must be assured that creators will use their funding for additional projects, and that transactions will be protected from rising fraud threats impacting platforms worldwide. They set up creator pages and add a slew of illegitimate patrons, who then pay the false creator with stolen credit card data.

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FICO

FEBRUARY 9, 2021

Whilst some fraud will be carried out quickly, we still expect many of the fraudsters to play the long game, executing so-called data farming scams aimed less at a quick buck than at stealing data that can be used later. Passport numbers, ID cards, and even health insurance have all been recent subjects of data farming scams.

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PYMNTS

OCTOBER 10, 2017

“Although the rate of adoption is good, corporates are not leveraging all the benefits of the digital transformation to provide new propositions to their clients, to help them move away from checks and increase overall efficiency in reconciliation and fraud,” the report concluded. Similarly, Asia and Latin America are set to see a 13.2

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Payments Regional America Trends 124

PYMNTS

DECEMBER 14, 2017

By way of example, Cottrell posited a donation management software platform, which brings tools together for different organization verticals (faith-based or fraternal, for example) and whose services have grown beyond the purview of managing member databases to communications. So, what does that do to your abandonment rate?”

Software 110

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PYMNTS

SEPTEMBER 10, 2019

The app stores digital versions of documents like drivers’ licenses, health cards and other forms of identity. Use cases for the digital ID wallet could include accessing age-restricted places like bars, signing into services like online tax filing or verifying identities at polling stations.

Wyoming 136

Wyoming District of Columbia Colorado Idaho 136

Independent Banker

DECEMBER 31, 2021

For example, just 2.1% For example, we don’t do mortgage lending right now, because we don’t have the compliance expertise and staff knowledge,” Silveria says. We’re here to service our customers.”. Steve Dehnert, Badger Bank. Using deposits in 2022. Several things were not much of a concern at all for bankers in the survey.

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Community Bank Community Lending Louisiana 144

PYMNTS

AUGUST 15, 2018

say that XRP is a security, for example, then tax and regulatory implications will be significant. Initial coin offerings ( ICOs ) are viewed with skepticism here and abroad — and, by the way, SEC Chairman Jay Clayton said that “every ICO” he has seen is a security — amid cases of real/alleged fraud and glitches.

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Bitcoin cryptocurrency Security Marketing 102

PYMNTS

MAY 30, 2018

In one example of fraud, crossing 74 checks totaling more than $38,000, O’Donnell forged payments made to resemble “housing refunds” for students that were made out to “pay to the order of Kevin O’Donnell” and cashed. In other instances, he used two credit cards tied to the university to send cash to himself via PayPal and Square.

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