PYMNTS

DECEMBER 16, 2020

Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector. And while promising news regarding COVID-19 vaccines may have put the end of the pandemic in sight, the restaurant industry’s growing fraud concerns will not cease as abruptly.

Fraud 310

Fraud social media Mobile Trends 310

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. Unlike the crypto markets, Wingert said the banking and payments industries continue to be slow to adapt to the challenges of KYC and fraud prevention. In fact, a recent GeoGuard survey found that U.S.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

SEPTEMBER 3, 2020

Those new avenues of fraud have leveraged hallmarks of the current pandemic — fears over public health and concerns about stimulus checks issued by the government — to snare unwitting victims. . . According to some estimates, as many as 22 percent of Americans have been impacted by COVID-related fraud. . .

Fraud 279

Fraud Data Policies Operations 279

Perficient

MARCH 17, 2025

We are witnessing the integration of AI, the rise of hyper-personalization, and the adoption of advanced digital platforms, all of which are revolutionizing operations and client interactions. The financial services sector is experiencing transformative changes driven by technological advancements and innovative trends.

Trends 221

Trends Analytics Compliance Strategy 221

PYMNTS

JUNE 23, 2020

Federal Reserve has introduced a new effort to combat payments fraud. “Designed to allow our corporate customers to stay ahead of the evolving demands of their clientele, this innovative cash management API also supports businesses in their digital transformation and daily operation optimization,” she stated. In the U.S.,

Fraud 266

Fraud Community Bank Virginia Community 266

Abrigo

NOVEMBER 14, 2024

By being proactive, banks can safeguard themselves from regulatory penalties and ensure their operations align with evolving compliance standards. Provide for program continuity despite operations, management, employee composition, or structure changes. Provide timely updates in response to changes in regulations.

Compliance 221

Compliance How To Training Software 221

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.

Fraud 221

Fraud Payments Software Policies 221

Abrigo

FEBRUARY 6, 2025

With this regulatory risk and associated operational complexities, there is plenty for financial institutions to consider before diving into cannabis lending. Abrigos new fraud detection software for banks and credit unions finds more fraud faster. Then, theres the operational side. But what about lending?

Lending 195

Lending Compliance Community Software 195

Abrigo

MARCH 7, 2025

Key requirements for Reg E compliance To comply with Reg E, financial institutions must follow these key requirements: Consumer disclosures FIs must provide clear information to consumers about their rights regarding electronic transactions. This increased scrutiny can divert resources away from core operations and impact overall efficiency.

Compliance 195

Compliance Regulation System Guidelines 195

Perficient

FEBRUARY 27, 2025

Digital transformation will remain a powerful force, with advancements in AI and machine learning enabling unparalleled operational efficiencies and hyper-personalized customer experiences. In 2025, AI will play a pivotal role in customer service, fraud detection, risk management, and personalized financial advice.

Banking Trends 221

Banking Trends Trends Digital Banking Customer Experience 221

Abrigo

JANUARY 22, 2024

6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products. You might also like this infographic, "Beyond immediate fraud losses: How the costs and impacts of fraud snowball." download NOW Takeaway 1 Fraud losses totaled $485.6

Fraud 221

Fraud Risk Management Training Software 221

PYMNTS

SEPTEMBER 22, 2020

The growth in digital transactions is also spurring a boost in friendly fraud, which occurs when legitimate customers either knowingly or unwittingly claim that they did not make legitimate purchases and seek reimbursement for them. It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

Fraud 255

Fraud Mobile Tools Study 255

PYMNTS

JANUARY 13, 2020

The currency exchange company continues in the grips of a ransomware attack that has crippled its operations, as well as the foreign currency operations of its corporate clients, including HSBC and Barclays. The scam reportedly lasted about five years, and the former bookkeeper has now been charged with felony theft.

Fraud 223

Fraud Kentucky Colorado Payments 223

Abrigo

FEBRUARY 6, 2024

4 Reasons better check fraud prevention is a good investment Check fraud is on the rise. Learn how you can save time and money in the long run by updating check fraud prevention capabilities today. At the same time, check fraud is increasing dramatically. At the same time, check fraud is increasing dramatically.

Fraud 221

Fraud Training Trends Regional 221

Abrigo

FEBRUARY 6, 2025

Compliance with investment accounting and reporting requirements plays a central role in ensuring operational efficiency and regulatory adherence. Investment accounting compliance not only minimizes operational risks but also reduces regulatory scrutiny. WATCH Investment accounting compliance risks U.S.

Compliance 195

Compliance Technology Operations Risk Management 195

PYMNTS

DECEMBER 28, 2020

In addition, cybercriminals, including ransomware operators, will continue to exploit the COVID-19 pandemic alongside legitimate efforts to develop, distribute, and administer vaccines,” according to the agency. FinCEN said similar attacks could be launched to disrupt the vaccine supply chain and delivery operations.

Fraud 317

Fraud Compliance Operations Report 317

Abrigo

OCTOBER 30, 2024

Increasing efficiency of compliant AML investigations To boost AML program productivity and keep pace with evolving compliance demands, financial institutions should focus on strategic operational improvements paired with the smart use of technology. What’s a leader to do? Leverage automation to reduce manual tasks.

Compliance 221

Compliance Training System Management 221

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.

Fraud 221

Fraud Training Compliance Trends 221

PYMNTS

AUGUST 17, 2020

When it comes to fraud threats, no company — large or small — is immune. PYMNTS breaks down the numbers of the latest in B2B fraud below. The Financial Times cited documents that suggest the invoice fraud scheme allowed NMC to secure loans in the UAE via Neopharma.

Fraud 237

Fraud Trends Report Security 237

PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

Fraud 274

Fraud Management Risk Management Company 274

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

Abrigo

MAY 12, 2022

Protect your financial institution from cybercrime With cybercrime constantly evolving, what can businesses and financial institutions do to prevent fraud? Cybercrime is a threat to businesses and institutions of all sizes and is at the forefront of the minds of those in the fraud prevention field. These measures can help.

Fraud 195

Fraud Training Software cryptocurrency 195

PYMNTS

SEPTEMBER 15, 2020

The world needs a FinTech operating system.”. He also cited “banks’ aversion to taking on risk and fraud” in a proactive manner that leads them to create and promote new card offerings. The world doesn’t need another bank,” Poovala told Webster. If you give your card, you can forget about it.”.

System 258

System Operations Fintech Taxes 258

Perficient

DECEMBER 18, 2023

Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations. Operational Efficiency and Effectiveness Adopting regulatory risk and compliance practices is not merely a box-ticking exercise. This ensures a seamless and compliant global operation.

Regulation 473

Regulation Compliance Exercises Guidelines 473

Abrigo

JANUARY 6, 2023

Check deposit fraud using “walkers” Financial institutions are seeing increased money mule scams using recruited "customers" to deposit stolen checks. Takeaway 1 Check fraud is not a new trend, but increased activity should put banks on high alert. Fraud scheme uses marginalized individuals as mules. Keep me informed.

Fraud 195

Fraud Regulation Training Operations 195

Perficient

AUGUST 4, 2024

This connectivity enhances interoperability, allowing for streamlined operations and improved data flow across various platforms. High-Impact Examples in the Financial Services Industry Real-Time Fraud Detection and Prevention Fraud detection is critical in the financial industry.

Industry 467

Industry Compliance Examples Risk Management 467

Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

Fraud 195

Fraud Cards Software Trends 195

South State Correspondent

APRIL 1, 2025

This means that thanks to recent Apple upgrades in their operating system, most phones are now capable of receiving Rich Communication Services (RCS) messages in addition to traditional SMS. Popular use cases include request for payments using the instant payment rails (above), loan payments and transaction verification to prevent fraud.

Marketing 195

Marketing Security Analytics User Experience 195

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.

Trends 195

Trends Fraud cryptocurrency Software 195

Abrigo

MAY 20, 2022

Fraud on Alert for 2022 A review of SAR data , government agenc y releases, a nd fraud findings found these f raud c oncerns and trends to wat ch in 2022. Takeaway 1 An Abrigo review of SAR data, government agency releases, and fraud findings revealed fraud trends to watch for. Fraud Concerns. Starting Point.

Trends 195

Trends Fraud Training Survey 195

Abrigo

NOVEMBER 17, 2023

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. That equates to $35 billion annually.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. mail, Craig said.

Fraud 195

Fraud Lending Taxes Regulation 195

PYMNTS

OCTOBER 3, 2019

Many FIs and merchants that have fallen victim to fraud traditionally respond by assessing the damage, pinpointing how the attack succeeded and implementing new measures to prevent similar schemes from happening again. The push for more intelligent anti-fraud solutions comes as the costs of such attacks are reaching new heights.

Fraud 194

Fraud Data Tools Resources 194

Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? Instant payments service What is FedNow?

Fraud 195

Fraud Payments Security Resources 195

Abrigo

DECEMBER 28, 2022

Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog. Keep me informed. This checklist can help.

Fraud 195

Fraud Training Compliance Regulation 195

PYMNTS

OCTOBER 16, 2020

Harnessing consumers’ digital information is critical to the success of any business, and data analytics and artificial intelligence (AI) can be especially powerful tools. This month’s Deep Dive explores how data analytics and AI can help QSRs optimize their operations across a host of use cases. QSRs Leverage AI.

Analytics 273

Analytics Data Fraud Tools 273

PYMNTS

NOVEMBER 19, 2020

This shift has prompted many eateries to rely on emerging tools like artificial intelligence (AI) to better manage various aspects of their operations as consumers transact remotely. The technology is also credited with helping them meet diners’ demands for seamless purchasing experiences as well as enabling them to battle fraud. .

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Boston Fraud Meeting Mobile 200