PYMNTS

NOVEMBER 15, 2020

Mobile-first fiscal management solution Fiskl has joined up with Samsung Appstack to help keep small- to medium-sized businesses (SMBs) competitive through collaborations and project management, according to a press release. Joining up with bigger-name apps can be a boon for startups.

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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. . .

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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 .

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PYMNTS

AUGUST 11, 2020

Idaho-based Kount has released a new product aimed at preventing insurance fraud as the industry increasingly turns to digital, and even mobile, setups. Kount’s products help “insurance companies identify visitors, manage leads, and determine who is shopping for a quote.”. In a Tuesday (Aug.

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PYMNTS

OCTOBER 30, 2020

"New government policies ultimately changed the way the majority of businesses interacted with customers, with new phrases like 'buy online, pick up in-store' becoming part of the nomenclature," says Andre Machicao, senior vice president of CyberSource, Visa. We saw years of change happen in a few months due to COVID-19.

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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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PYMNTS

JANUARY 11, 2021

To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million. As reported, the deal will enable Equifax to boost its global presence in digital ID and fraud prevention, including through the Kount Identity Trust Global Network. In a Monday (Jan. In a Monday (Jan.

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PYMNTS

SEPTEMBER 24, 2020

In a Masterclass interview with PYMNTS, Tom Donlea , vice president and general manager, APAC at global identity verification provider Ekata , said Asia offers greenfield opportunities — and some areas of risk — for merchants looking to offer digital wallets. The percentage of total sales that occurred online in the U.S.

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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. The scary thing about the SIM swap fraud is it’s not like the victim has done one thing wrong,” Prideaux said. Breaking Into The Two-Factor Authentication Scheme. Taking A Deeper Look.

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PYMNTS

APRIL 15, 2020

While there is no shortage of new things in the world to get used to these days, cybercrime and fraud are, unfortunately, not among them. The good news, both Srinivasan and Awad told PYMNTS, is that while fraud attempts are up among U.S. consumers, fraud losses are not, yet. million pounds out of the unwitting. The New Normal.

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Abrigo

NOVEMBER 1, 2021

Combating Cyber-Enabled Fraud Requires Communication Increases in cybercrime or cyber-enabled fraud deserve attention from financial institutions, as Abrigo expert Terri Luttrell explains in this video. . You might also like this whitepaper, "The 2021 BSA/AML and Fraud Staff Survey: Top Issues for FinCrime Fighters".

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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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PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. 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

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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

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.

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PYMNTS

OCTOBER 7, 2020

Higher volumes of consumers are continuing to shop online even as brick-and-mortar stores reopen. The expansion of digital banking and payments has also contributed to a rise in cybercrime — 32 percent of consumers noted in one study that they had been the targets of COVID-19-related fraud, for example.

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Online Report Tools Fraud 223

PYMNTS

NOVEMBER 4, 2020

The seizure stemmed from a cryptocurrency fraud scheme being investigated by Brazilian federal police called Operation Egypto. In addition, the Financial Crimes Enforcement Network ( FinCEN ) has warned banks to look out for cryptocurrency-related fraud, with reports rising due to pandemic-related chaos in recent months.

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PYMNTS

DECEMBER 16, 2020

And then, after the transaction is made, there’s the task of understanding the byzantine codes and data that are tied to online statements. The “language” of the statements may represent a Rosetta Stone of sorts for the 110 million consumers who have pivoted online in the wake of the pandemic. The Scope Of The Problem.

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PYMNTS

DECEMBER 9, 2020

9) that it’s successfully completed its acquisition of GIACT and has expanded its suite of products for fraud prevention and identity verification. Phil Cotter , managing director of Refinitiv's risk business, said the hope was to work with GIACT to expand their product offerings.

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PYMNTS

JANUARY 8, 2021

Equifax has inked a deal to purchase artificial intelligence (AI)-powered fraud prevention and digital identity technology provider Kount for $640 million. As digital migration accelerates, managing authentication and online fraud while optimizing the consumer's experience has become one of our customers' top challenges,” Equifax CEO Mark W.

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PYMNTS

OCTOBER 1, 2020

Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company. In June, Visa signed an acquisition agreement with Verifi. “The

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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. Host webinars or workshops for your employees, customers, or members that cover topics such as password management or phishing prevention.

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Online Security Resources Training 221

PYMNTS

SEPTEMBER 18, 2019

Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels. Banks are dealing with rapid rises in fraud schemes such as ATOs, synthetic identity fraud and account opening fraud.

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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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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.

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PYMNTS

SEPTEMBER 24, 2020

The ongoing COVID-19 pandemic and its associated social distancing and stay-at-home orders have pushed untold services online for easier consumer access, with banking serving as a prime example. Fraud Threats To Digital Banking. Identity fraud accounted for $16.9 Leveraging Video-based Onboarding, AI To Prevent Identity Fraud.

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PYMNTS

AUGUST 19, 2019

The threat actors realized they can amplify their impact by targeting specific companies such as managed service providers,” said Bennett. Gary Robinson, who serves as head of DCPCU, said that online conduits are gaining favor from fraudsters to further their schemes. “We Corporate Wire Fraud.

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PYMNTS

SEPTEMBER 28, 2020

PYMNTS' September Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , analyzes the pandemic-era fraud landscape and identifies its many pitfalls. This fraud targets all demographics and generations, with U.S. Financial crime-fighters simply won’t suffer this state of affairs.

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PYMNTS

APRIL 21, 2020

A partnership between The University of Oxford , Saïd Business School and Mastercard will launch an online education program to teach business leaders about the strengths and perils of the modern day internet. The class, he said, was a way of ensuring that this was done with a measure of public trust.

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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.

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PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Fraudsters made off with account numbers and other personal details, which could later be used for different synthetic identity fraud or related schemes. digital bank Monzo.

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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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Cards Fraud Guidelines Mobile 197

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?

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PYMNTS

JUNE 22, 2020

It’s the battle against fraud that can be lost right at the beginning. Bad actors, are, increasingly, targeting online card applications, using stolen personally identifiable information to apply for credit, leveraging those ill-gotten credit lines to make fraudulent purchases. alone topped $10.2 billion last year. alone topped $10.2

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PYMNTS

MAY 27, 2020

Fraudsters equipped with such information could then easily access victims’ online accounts using legitimate credentials and take control of the customers’ funds. The May FI Fraud Decisioning Playbook examines the issue of omnichannel fraud and the strategies that banks and CUs are using to detect and thwart it.

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Fraud How To Strategy Analysis 245

Abrigo

DECEMBER 17, 2019

The expected outcome of greater inventory at a lower cost, as we have seen in prior years, is an increase in fraud activity and cyberattacks heading into the end of the calendar year. One of the most important links in the chain of e-commerce fraud is the “mule”. Fraud Prevention. Fraud Trends. Fraud Prevention.

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Abrigo

OCTOBER 10, 2023

Use the fraud triangle to prevent fraud at your institution The concept of the fraud triangle is frequently used in business, accounting, and criminology. Takeaway 1 The fraud triangle concept describes three factors that, when combined, incentivize a person to commit fraud. The FTC received fraud reports from 2.4

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