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. DOWNLOAD . Takeaway 3 Stay one step ahead by updating your fraud mitigation processes to detect and prevent fraud schemes before they become hard dollar losses.

Trends 195

Trends Fraud cryptocurrency Software 195

Abrigo

OCTOBER 19, 2023

Ideas for educating and promoting cybersecurity in October Cybersecurity Awareness Month is an opportunity for banks and credit unions to promote online safety and take steps to reduce cyber risks. You might also like this whitepaper: "Protecting banking customers starts with you." But how did Cybersecurity Awareness Month start?

Online 221

Online Security Resources Training 221

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

Abrigo

JULY 10, 2023

Stay up-to-date on AI fraud trends to protect your clientele Emerging AI fraud schemes reveal holes in financial institution's defenses. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. Here are several suggestions for tightening security.

Fraud 150

Fraud How To social media Security 150

Abrigo

OCTOBER 28, 2021

Growing Cyber Fraud Concerns What can financial institutions do to prevent and detect cyber fraud? You might also like this blog on cyber fraud. Takeaway 1 Cyber fraud increased during the pandemic, leaving financial institutions working harder to prevent and detect it. Preventing Cyber Fraud.

Video 195

Video Fraud Training Analysis 195

Abrigo

JANUARY 14, 2021

How Institutions Can Avoid Fraud Surprises in the Next Round of the PPP BSA and fraud professionals saw a spike in PPP fraud during the first two rounds of funding. How can they be better prepared to prevent fraud in this next round? Stopping PPP Fraud in New Round of Funding. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

PYMNTS

JANUARY 13, 2021

Experts predicted that up to $190 billion would be spent online this year, a 35.8 The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Phishing scams were on the rise all year, while a survey of online shoppers found that 40.3

Fraud 189

Fraud Analytics Data Retail 189

PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

Fraud 150

Fraud Examples Online Data 150

PYMNTS

AUGUST 7, 2020

Millions of consumers around the globe are turning to online games during the COVID-19 pandemic, and cybercriminals are springing into action with schemes to target them. Online gambling compliance experts are also predicting that cybercrime will sharply rise in the coming months. Why Online Gaming Appeals To Fraudsters .

Online 222

Online System Fraud Video 222

PYMNTS

NOVEMBER 13, 2020

Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses. The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. More than 6.2

Fraud 242

Fraud US Mobile Study 242

PYMNTS

MAY 4, 2020

Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. Around The FI Fraud Decisioning World.

Fraud 197

Fraud Data Tools Online 197

PYMNTS

APRIL 1, 2019

When it comes to online shopping, one of the greatest frustrations for consumers — and friction points for merchants — is having to manually enter credit or debit card information for each purchase. percent of consumers today have account information stored online with at least one or more companies or service providers.

Online 212

Online Cards Mobile Maine 212

Abrigo

FEBRUARY 8, 2024

WATCH Takeaway 1 Romance scams are one of the most common forms of fraud schemes seen in the U.S. Takeaway 3 Romance scams can happen to anyone, but staying informed and following these precautions can create a safer online dating experience. Report any scam or attempted fraud to the FBI and your financial institution.

Fraud 221

Fraud social media Training Trends 221

PYMNTS

APRIL 22, 2020

While being the victim of fraud is never good, there is something to be said for at least being able to identify where exactly one went wrong. Clicked the wrong link in an email, trusted the wrong authoritative voice on the other end of the phone, downloaded the wrong app hiding a malicious little piece of malware.

Fraud 253

Fraud Data Resources Technology 253

PYMNTS

APRIL 19, 2016

Since the cutover to EMV in October, fraudsters have moved their business online. The Global Fraud Index, a PYMNTS and Forter collaboration , shows that online fraud attacks have jumped by 11 percent since the shift. Each Index includes a metric which quantifies the rate of fraud attempts on U.S. Are they up?

Fraud 100

Fraud Online Trends Regional 100

PYMNTS

JUNE 9, 2020

Cybercrime is surging during the COVID-19 pandemic as fraudsters seize on increased online activity to steal consumers’ sensitive personal details. As much as 22 percent of consumers have now been targeted by COVID-19 digital fraud scams, driving a mounting need for new ways to mitigate digital fraud risks.

Online 195

Online Report Compliance Fraud 195

PYMNTS

AUGUST 21, 2020

This popularity is not expected to decline once the virus wanes, with the number of online and mobile banking users expected to hit at least 3.6 ATMs are common avenues for fraud, however, especially those that are running outdated software. For more on these and other digital-first banking news items, download this month’s Tracker.

Analytics 266

Analytics Fraud ATM Report 266

Abrigo

MAY 24, 2024

Essential components for connection include: Front-end services: Provide customers with online or app-based options to send and receive payments. Fraud detection and AML systems: Ensure these systems are integrated and operational at your institution to stay on top of financial crime. Customize your FedNow plans Customization is key.

How To 243

How To Fraud Resources Georgia 243

PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

Fraud 255

Fraud Online Retail Examples 255

PYMNTS

JANUARY 23, 2020

The January AML/KYC Tracker examines 5AMLD’s significance, as well as other efforts to thwart the fraud attempts challenging the financial sector. To find out more about these and all the latest headlines, download the Tracker. Worldpay On Modernizing Security To Foil eCommerce Fraud. Around The AML/KYC World. About The Tracker.

Fraud 157

Fraud Security Regulation cryptocurrency 157

PYMNTS

NOVEMBER 30, 2020

There are other benefits that the function could provide, however, including more robust fraud protection. How can banks better communicate the benefits of location sharing — and its vast potential to combat fraud — to customers who are on the fence? For more insights, download the report. The report surveyed 2,141 U.S.

Fraud 171

Fraud Data social media Millennials 171

PYMNTS

OCTOBER 18, 2018

In search of added convenience and simplicity, banking customers are migrating to online and mobile banking interfaces, leaving in-person visits to brick-and-mortar branches behind. How Banks Are Weaponizing Data To Fight Fraud. To read the full story, download this month’s edition of the Digital Banking Tracker. .

Fraud 178

Fraud social media Data Trends 178

PYMNTS

MARCH 11, 2020

The Reserve Bank of India recently released guidelines outlining an approved method that private companies could use for conducting KYC checks online by using videos. FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Download the Tracker to read the Feature Story.

Fraud 150

Fraud Payments Guidelines Regulation 150

PYMNTS

JANUARY 26, 2020

Google has announced that all paid commercial extensions have been temporarily suspended from being published or updated in the official Chrome Web Store due to fraud, ZDNet reported on Saturday (Jan. Existing commercial extensions can be downloaded, but not updated.

Google 161

Google Fraud Apple Meeting 161

PYMNTS

OCTOBER 14, 2020

Online restaurant supplier Rebel Foods has deployed machine learning to enhance its order forecasting ability, for example, which allows it to determine which food items to deliver to restaurant kitchens. For more on these and other mobile order-ahead news items, download this month’s Tracker.

Analytics 161

Analytics Fraud Data Mobile 161

PYMNTS

JANUARY 28, 2021

It is well known that shoppers tend to behave differently online than they do in brick-and-mortar stores — and this extends to how they choose to pay at checkout. One of the more notable differences is their tendency to favor credit cards online and other options such as digital wallets over debit cards.

Cards 210

Cards Online Security Data 210

PYMNTS

SEPTEMBER 9, 2020

Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. Download the Tracker to read more. The COVID-19 pandemic is shaking up shopping behavior. About The Tracker.

Cards 162

Cards Fraud Retail Online 162

PYMNTS

DECEMBER 7, 2020

But he said that in some cases, banks fail to do so because a customer’s initial download of an app didn’t request it, or possibly because users might have switched off location permissions on their smartphones. “If But the consumer doesn't even know [banks] haven't asked for location.

Fraud 232

Fraud Data Detroit Security 232

Abrigo

SEPTEMBER 23, 2024

DOWNLOAD Takeaway 1 The National Public Data breach exposed over 2.7 Sensitive information The National Public Data breach's far-reaching consequences In early 2024, National Public Data, an online service specializing in background checks and fraud prevention, suffered a major data breach that exposed over 2.7

National 195

National Data Fraud Security 195

PYMNTS

JULY 2, 2020

This can be a significant help for consumers who may be unable to make purchases during the pandemic unless they have cards for checking out online or digital wallets to use with any brick-and-mortar merchants who have stopped accepting cash. How FIs Adapt Fraud Detection During Times of Behavioral Upheaval. About the Tracker.

Fraud 222

Fraud Cards Florida Trends 222

PYMNTS

JUNE 11, 2019

Phone numbers, email addresses, usernames and other online signifiers have become vital to digital identity verification, as the world becomes increasingly connected. For more on these and other digital identity developments, download this month’s Tracker. How Western Governors University handles Digital ID Verification.

Online 145

Online blockchain social media Security 145

PYMNTS

JULY 15, 2019

The specification is available for free public download from the EMVCo website. As Armstrong told PYMNTS, the spec will gradually replace the “complex registration journey” that many online shoppers have to undergo before making purchases, a journey that includes passwords and other data entered into multiple fields.

Online 146

Online Security Fraud Payments 146

PYMNTS

JANUARY 28, 2020

Money travel service Travelex is back online after a cyberattack forced it to use paper and pen to manually complete transactions for customers over the holidays, according to a report by Reuters. The hackers said they downloaded five gigabytes of data, which they had been collecting for almost half a year. On early Tuesday (Jan.

Online 132

Online Policies System Company 132

Abrigo

JANUARY 4, 2023

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. DOWNLOAD WHITEPAPER. Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud. But with increased popularity comes more opportunity for fraud.

social media 195

social media Fraud cryptocurrency Trends 195

PYMNTS

JUNE 17, 2019

However, digital platforms face a major barrier in delivering these experiences: poor fraud detection. For digital platforms, fraud represents a two-headed beast. As largely online operations, they are tempting targets for fraudsters and hackers — therefore, robust anti-fraud systems are vital. About the Playbook.

Fraud 117

Fraud How To Payments Survey 117

PYMNTS

OCTOBER 5, 2020

For more on these and other AML/KYC news items, download this month’s Tracker. Online commerce has surged in popularity as the pandemic has limited store traffic, with online marketplaces expected to generate $4.5 Streamlining AML And KYC Procedures Via AI. Deep Dive: Leveraging AI And ML To Prevent Money Laundering.

Online 141

Online Compliance Report Study 141

PopularBank

APRIL 18, 2024

Yet, despite advances in bank fraud protection, scammers continue to develop and deploy sophisticated—and successful—methods. Earlier this year, the Federal Trade Commission announced over $10 million in fraud losses in 2023, up 14% from the previous year. Thieves attempting bank fraud may try one or more of the following scams.

Fraud 52

Fraud social media Cards Security 52