Payments Dive

SEPTEMBER 29, 2022

Credit card fraud tops the list of growing threats, but P2P and newer payment vehicles are quickly catching up, according to a recent poll of industry executives.

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Payments Dive

MARCH 20, 2023

Apto Payments and Sardine are joining forces to offer commercial customers issuing cards better anti-fraud tools.

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Tools Fraud Payments Cards 221

Payments Dive

MARCH 25, 2024

The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.

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Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations.

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Payments Dive

OCTOBER 6, 2022

The card behemoth said it’s observing an increase in in-person fraud now that U.S. consumers are returning to their pre-pandemic shopping habits.

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Payments Dive

AUGUST 2, 2019

While data shows that credit card fraud has decreased from the standpoint of payment volume, there remains a concern in the industry that cybercriminals are using sophisticated methods of changing tactics to avoid detection and put consumer payment information at risk.

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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.

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Payments Dive

JULY 15, 2024

With summer vacation season in full swing, the card network suggested ways that its card clients can better protect themselves against the latest fraud threats.

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Payments Dive

JANUARY 16, 2024

The card issuer is selling the business, which offers online fraud monitoring services to merchants, to the joint venture investment firm Accel-KKR.

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Payments Dive

APRIL 15, 2024

Card programs can increase purchase authorization rates without taking on undue fraud-liability risk with 3-D Secure (3DS). Here’s what it is and how card issuers can leverage it.

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Payments Dive

OCTOBER 30, 2018

Not only do card fraud losses take a dollar-for-dollar toll on bottom line profitability, card fraud blights the customer experience—undermining consumers' trust and collectively costing issuers millions annually in lost business.

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Gonzobanker

JUNE 6, 2024

Add these action items to your card fraud checklist to strengthen your defenses. The hacker group ShinyHunters allegedly breached Ticketmaster’s data in late May 2024, including credit and debit card information for over 560 million consumers worldwide. based consumers whose card information was compromised?

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Payments Dive

MAY 8, 2024

accounted for 58% of global commercial card spend last year, but also for 78% of total value lost to card fraud, according to a report by Euromonitor International.

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Cards Report US Marketing 195

Payments Dive

APRIL 19, 2023

million judgment against a group of Nexway companies over processing payments tied to tech support scams, but they’ll ultimately pay the smaller fine for defrauding consumers. A court initially imposed a $49.5

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Bank Innovation

MARCH 22, 2018

UK-based fintech Revolut’s newest product is a “disposable” virtual card, a product that was designed with fraud protection in mind, the fintech announced today. The card, which sits inside Revolut’s mobile app, wipes a user’s details and resets them after every payment.

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Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . Real-time payments are going mainstream. . These services are different from NACHA’s “Same Day ACH,” or Card Network solutions.

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PYMNTS

SEPTEMBER 4, 2019

Visa announced that since their inception, chip cards have reduced counterfeit fraud by 87 percent. . Chip cards are increasingly becoming the norm as usage and acceptance has continued to grow since the EMV standard was first introduced in 2011,” the company said. Counterfeit fraud dollars for all U.S.

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PYMNTS

FEBRUARY 13, 2019

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015. More than 3.1

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Abrigo

SEPTEMBER 8, 2023

How to comply with both Reg CC and fraud requirements Read about the rules outlined by Reg CC, the circumstances that allow exceptions, and what to do when your financial institution suspects fraud. Takeaway 3 Understanding Reg CC and exceptions to the rules will help FIs fight fraud while staying compliant.

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PYMNTS

MAY 5, 2020

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction. Interacting With The Cardmember.

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Payments Dive

FEBRUARY 7, 2023

Amex is the latest card company to tap a Google virtual card service aimed at increasing the security of online payments.

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Abrigo

DECEMBER 22, 2023

The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. You might also like this infographic on the true costs of fraud at financial institutions. Here are Abrigo’s 10 top AML and fraud blogs in 2023.

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Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. Takeaway 3 Remember that ACH fraud risk also occurs in the placement stage of a fraudulent or money laundering scheme.

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Abrigo

MARCH 30, 2023

P2P fraud can be difficult to detect Knowing how criminals avoid detection can help minimize losses at your financial institution. This article was written by Olivia Boyer, CAMS & Joann Millard, CAMS, of Abrigo Advisory Takeaway 1 P2P payments move from one individual account to another digitally, and they are becoming more commonplace.

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Abrigo

FEBRUARY 22, 2024

Check fraud prevention is at the forefront for financial institutions Banks and credit unions report that check fraud is impacting their institution more than any other threat. You might also like this upcoming webinar on Homeland Security fraud investigations. These conditions can increase the likelihood of all types of fraud.

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PYMNTS

DECEMBER 29, 2020

Consumers have more heavily leaned on debit during the pandemic, with the economic downturn making shoppers more cautious than ever about the prospect of taking on credit card debt. A recent study even estimates that shoppers could ultimately shift $100 billion worth of annual spending from credit cards to debit cards.

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Payments Dive

DECEMBER 18, 2018

CNP fraud contributes 73% to total card fraud in Europe. View our latest infographic to learn more.

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Payments Dive

AUGUST 28, 2024

Four in five consumers are worried about identity theft or someone stealing their credit card numbers, according to a report this month from the credit monitoring agency Experian.

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Abrigo

FEBRUARY 8, 2024

Client fraud education to prevent banking losses Financial institutions play a crucial role in safeguarding customers and members from fraud. Fraud education is key. You might also like this infographic: 5 Fraud typologies impacting you and your customers or members. DOWNLOAD Takeaway 1 U.S.

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Payments Dive

NOVEMBER 17, 2023

Better spelling on fake merchant sites and more advanced card skimmers are among the latest schemes that will be deployed by fraudsters during the year-end holiday shopping season.

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Payments Dive

DECEMBER 1, 2023

Relay’s cardless purchasing capability allows more fleets and drivers to avoid fraud caused by card skimming, the logistics payment company said.

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PYMNTS

APRIL 22, 2020

Paay, a startup credit card database storing millions of transactions, has been unsecured for weeks and only now closed again, according to a TechCrunch report. The database works with other payment processors, verifying payments to make sure there is no fraud going on for outside vendors.

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PYMNTS

SEPTEMBER 21, 2020

And consumers want to pay with their preferred methods, across cards or digital wallets. Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed.

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Bank Innovation

JULY 25, 2017

Customer fears about card security and fraud is increasing, but as it turns out, fewer consumers are actually experiencing that fraud. This is according to the Consumer Payment Card Data Security Perceptions survey by data solutions provider Transaction Network Services, released today.

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Bank Innovation

FEBRUARY 2, 2018

In Denmark, the advent of digital banking also saw almost a 60% jump in card fraud, Bloomberg reported yesterday. Danish credit card fraud significantly increased in 2016, Bloomberg said, and reports of online fraud in the country have increased 300% from reports in 2009. […].

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PYMNTS

FEBRUARY 3, 2020

Fraudsters have grown adept at finding debit cards’ weak points, and merchants are struggling to keep up. Losses due to false credit and debit card declines — in which merchants reject legitimate orders on the mistaken belief that they are fraudulent — grew to $118 billion last year and are projected to reach $443 billion by 2021.

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PYMNTS

OCTOBER 17, 2018

Fraudulent noncash payment values have increased by a lot in the U.S. between 2012 and 2015, surpassing growth in noncash payments, the Federal Reserve found. According to data from the Federal Reserve Payments study, it found the value of noncash fraud jumped 37 percent to $8.3 billion in 2015 from $6.1 billion in 2012.

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