TrustBank

MARCH 27, 2024

We are well into March which means tax filing time is upon us. Now would be a good time to securely send your tax information to your tax preparer (if you haven’t already). It is also an especially high time to be alert and vigilant to scams and fraud regarding your personal information.

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PopularBank

APRIL 6, 2022

Tax season is quickly coming up — April 18 for most taxpayers (with an extension until October 15 if you need it). This means it’s also high season for scammers who may try to grab your personal information online to use not just at tax time, but at any time. Choose your tax preparer wisely. Be aware of phishing scams.

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PYMNTS

JANUARY 29, 2020

businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. Such tools can automatically categorize necessary information from receipts and reports, significantly cutting down on the $26.63

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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.

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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. That issue was resolved.

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PYMNTS

APRIL 12, 2017

Identity company MorphoTrust USA looks to put a dent in tax fraud and theft by adding an additional layer of authentication security into the mix. The app compares this information against the driver’s license database record. The company recently announced a partnership with the Alabama Department of Revenue (ADR).

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PYMNTS

APRIL 10, 2019

One of the largest challenges for procurement chiefs today, according to Sovos VP of Strategy Christiaan Van Der Valk, is tax compliance, and it can easily trip up organizations as regulations become more complex — and as regulators’ strategies to ensure tax compliance become more sophisticated.

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FICO

MARCH 8, 2021

This year the Internal Revenue Service (IRS) will start accepting 2020 tax returns on February 12 , about two weeks later than usual. That’s positive news—because you definitely want to file your tax return as soon as possible, particularly if you’re claiming a refund. How do fraudsters commit tax refund fraud?

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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. According to reports, the individual had access to the business’s bank accounts, allowing her to make tax payments.

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PYMNTS

NOVEMBER 26, 2019

Businesses depend on the public services tax revenues pay for: roads that facilitate deliveries, courts where firms resolve legal disputes and regulators that help protect businesses from fraud. Even businesses eager to pay their share, however, may feel that complying with tax laws is complicated. .

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PYMNTS

JULY 15, 2019

In Australia, a new report shows just how widespread internal fraud in the Commonwealth, aimed at government agencies, has become. This past week it was reported that, per an investigation by the Australian Institute of Criminology, such fraud amounted to $42 million over the past year. Grayson Jr., owner of Zealcon Corp.,

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PYMNTS

AUGUST 11, 2020

As in the first distribution of $1,200 checks in the spring, most people will get money direct deposited, or via a debit card or check will be mailed to the address where your taxes were filed. losses from COVID-19 fraud have reached nearly $100 million since the pandemic emerged in March.

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Qudos Bank

AUGUST 13, 2024

With it being tax season time, it’s important that you remain vigilant when it comes to lodging your tax return as scammers will take the opportunity to impersonate the Australian Taxation Office (ATO) and coerce you into supplying your details so they can steal your funds. or ato.gov.au into the internet browser. or ato.gov.au

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PYMNTS

SEPTEMBER 24, 2020

Fraud Threats To Digital Banking. And then they’ll take that [information] and use the accounts.”. Another threat is identity fraud, in which bad actors will either steal an individual’s identity or forge a new one, and then use it to open new accounts or apply for fraudulent loans they have no intention of paying back.

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PYMNTS

SEPTEMBER 12, 2019

FIs and FinTechs increasingly encounter new forms of fraud as they expand their digital operations, making it all the more important that they have strong risk assessment and compliance systems in place. A team of analysts can only handle so many potential fraud cases at a time, after all. . resources.

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Payments Source

APRIL 11, 2019

Tax-related identity theft can be especially worrisome, not only for the monetary consequences it carries, but tax documents often contain highly sensitive information, like Social Security numbers, writes Paige Schaffer, president and COO of Generali Global Assistance’s Identity and Digital Protection Services Global Unit.

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PYMNTS

APRIL 10, 2020

TurboTax , the online tax preparation service, has said it is launching a free stimulus registration system to help people who don’t need to file a tax return. Approximately 10 million people in the country don’t have to file taxes, and roughly 80 percent can receive a stimulus check. . Trackers and Reports.

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PYMNTS

AUGUST 15, 2019

The Internal Revenue Service has issued another warning to cryptocurrency investors with federal returns that don’t match the information received from virtual currency exchanges. Bloomberg reported that in letters to the investors, the agency did acknowledge that the trading exchanges may have made the errors.

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PYMNTS

OCTOBER 19, 2020

Meeting this fraud threat will require in-depth knowledge of fraudsters’ techniques and advanced technology and customer vigilance, according to Jamie Armistead , vice president and business line leader for banking app Zelle. “We We split out scams and frauds,” he explained in a recent interview with PYMNTS.

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PYMNTS

AUGUST 29, 2019

million) by the country’s data-protection agency over a data breach that compromised the personal information of almost every adult in the country. Reuters is reporting that the tax agency said it was going to appeal the decision. The National Revenue Agency (NRA) in Bulgaria was fined 5.1 million levs ($2.9

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South State Correspondent

SEPTEMBER 13, 2023

Most banks ignore instant payments or are still worried about fraud and research. 33% are still made via check that contains more than $8B of fraud per year. Check fraud is up some 84% and is only going to go up. Maybe the payer needs a breakout of taxes, or perhaps the payee was only able to ship a partial order.

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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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PYMNTS

JANUARY 18, 2021

government's inability to curb the risk of fraud that emerged during the first round of PPP funding. According to the WSJ, nearly 1,500 firms are facing allegations of fraud after receiving a combined $2 billion in federal stimulus aid, while an additional 432 companies are said to have laid off staff after receiving their PPP loans.

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PYMNTS

NOVEMBER 18, 2016

17) of a new tax bill scam in which unwitting consumers receive a fake IRS notice that contends they owe the government money because of the Affordable Care Act. As the end of the year gets closer and the tax deadline nears, the number of IRS scams tends to pick up. The Internal Revenue Service warned Thursday (Nov.

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PYMNTS

FEBRUARY 4, 2020

RELX will acquire Arizona-based Emailage for $480 million in the former’s push to establish a footprint in the fraud prevention market, according to Financial Times (FT). However, over the last decade, amid changing consumer needs, it rebranded itself to start working in the field of business information and data services.

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Abrigo

JUNE 27, 2024

Takeaway 3 Customer outreach can provide valuable information and alert analysts to check on customers with illogical responses or no response at all. The account is further credited with credit/debit card processing, and the incoming funds are used for everyday business expenses such as vendor and tax payments.

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PYMNTS

NOVEMBER 29, 2018

Federal authorities in Germany raided six offices of Deutsche Bank on Thursday morning (November 29), searching for evidence about money laundering and offshore tax havens, according to a report by The Wall Street Journal. The searches could very well continue into Friday, authorities said.

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PYMNTS

MARCH 26, 2019

Attorney Michael Avenatti has been charged in two federal cases with wire and bank fraud, as well as allegedly attempting to extort more than $20 million from Nike. He is also charged with supposedly defrauding a bank through fake tax returns. The Wall Street Journal ( WSJ ) reported that the U.S.

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PYMNTS

NOVEMBER 23, 2018

But those illegal marketplaces — often called the “Dark Web” — also present a juicy opportunity for those fighting fraud to detect and even preempt criminal activities than cost businesses revenue and, often, parts of their brand reputation. As he sees it, “credit card fraud is the slush fund for much worse stuff.”.

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South State Correspondent

MARCH 21, 2023

ERC gave eligible businesses a refundable tax credit of up to 50% of $10,000 for qualified wages paid per employee. Community banks can now white label this same product to onboard and process employee retention tax credits for the bank’s small business customers AND prospects. In 2020, the U.S.

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PYMNTS

APRIL 14, 2017

While the fraud ecosystem continues to rapidly develop and advance, big data may prove itself to be a strong weapon in combatting fraud. With that thought in mind, DataVisor set off on a mission to utilize harness and analyze that could potentially detect fraud and protect billions of users around the world.

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PYMNTS

MAY 10, 2019

The system was criticized for not informing citizens that they didn’t have to agree to participate. The Information Commissioner’s Office (ICO) conducted the investigation after receiving the complaint, and found that the tax office collected the data illegally.

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PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Smooth B2B operations depend on robust data gathering, but many companies rely on manual methods to collect information and complete supplier enrollment.

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PYMNTS

AUGUST 3, 2017

Turns out Everlast, perhaps the marquee name in boxing equipment, was punching above its weight … at least when it came to the fight against online fraud. Fraud management seemed to be a defensive gap at the company, with third-party tools and Google searches as amateur counterpunches against losing business.

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FICO

MAY 14, 2019

It may seem like a contradiction, but in some regards, tax offices are both data rich and data poor. Tax offices have a significant amount of data, predominantly from business registration forms and tax return filings available to them. Tax Office Data-Matching: The Value Of Third-Party Data.

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PYMNTS

DECEMBER 17, 2020

Fraudsters, according to PYMNTS data, were already enjoying a banner year in 2020 as the world went online and the forces of fraud rapidly followed. But fraud never sleeps, nor does it take holiday vacations or stop looking for creative ways to turn society’s good news into an opportunity for personal gain. The FTC marked $201.26

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PYMNTS

AUGUST 17, 2018

To that end, a finance platform based in Switzerland, Advanon, has grappled with fraud, as reported by p2p-banking.com. The invoices were then financed by 78 private investors – and the fraud resulted in ill-gotten gains worth about two million euros. Underhanded Doings in the Land Down Under.

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