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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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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Fraud Video Training Compliance 195

PYMNTS

SEPTEMBER 20, 2018

ProfitStars , the Jack Henry & Associates division that provides risk management solutions for financial institutions, announced its latest fraud tool on Wednesday (Sept. “Our iPay ESM solution delivers sophisticated fraud analytics, eases compliance and provides powerful reporting capabilities to financial institutions. .

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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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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

JANUARY 4, 2019

Stepping into this world is vital for anyone serious about preparing a proper defense against online fraudsters in 2019. The 2018 holiday season has barely ended and it’s a good bet that retailers and payments players have yet to identify all the fraud that took place. More specifically, it can identify patterns that signal fraud.

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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

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.

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PYMNTS

OCTOBER 19, 2018

At the least, it won’t get any better — not according to any anti-fraud expert who is worth their rate. Every business must decide its comfort level with fraud and how much risk to take on, a concept discussed in depth during a new PYMNTS digital discussion, featuring Karen Webster and Kevin Trilli, chief product officer at Onfido.

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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

JULY 15, 2020

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. .

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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

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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PYMNTS

MARCH 14, 2020

With the coronavirus putting eCommerce front and center, it has unfortunately been joined by its cousin: online retail fraud. Conservative estimates put online sales at $630 billion this year. According to online security company Signal Sciences , eCommerce retailers deal with an average of 206,000 web attacks per month.

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Gonzobanker

JUNE 6, 2024

Add these action items to your card fraud checklist to strengthen your defenses. This equates to even more fraud losses for banks and credit unions, which have already been hit hard across all payment channels this year. Check fraud is up 171% year over year based on a recent Actimize study. That’s more than 2.5

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PYMNTS

OCTOBER 24, 2019

A new survey has found that the biggest obstacles hindering online retailers from doing business abroad is fraud prevention, and currency and payment processing. and more than half of online shoppers have already purchased goods outside their country. However, the survey reported that less than half of U.S.

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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

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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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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Abrigo

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. Check Fraud. Still the number one type of fraud in banking. There is also usually more than one signee assigned to those accounts, making them more susceptible to fraud.

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Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

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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.

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PYMNTS

NOVEMBER 17, 2020

The rising trend of digitization in commerce and the increased occurrence of card-not-present fraud were not created by the COVID-19 pandemic. Those dynamics have made the dangers of fraud far less abstract to consumers. Fraud, he said, is occurring at an unprecedented rate and scale and it was far from a small issue before.

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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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PYMNTS

JUNE 12, 2020

As more organizations migrate to an online business model, their needs from FinTechs and other third-party service providers are in flux. This week’s B2B Venture Capital roundup reflects those changing needs, with B2B fraud mitigation efforts for online businesses emerging as the funding leader.

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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 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. Picture an 107-year-old retail juggernaut, iconic in name but perhaps a bit dated in business processes, battling against online scammers, chargebacks and general inefficiencies.

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PYMNTS

NOVEMBER 20, 2019

This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. She recently spoke to PYMNTS about how Scotiabank has revamped its fraud strategy in recent years. “I The increasing sophistication of fraud attacks has led Scotiabank to reassess how it employs AI, ML and automation.

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PYMNTS

APRIL 10, 2017

Experian, the credit rating company, is getting into the biometrics market, inking a deal with technology company BioCatch to use behavioral biometrics to fight fraud. According to a report in Reuters , the partnership is aimed at enabling customers to identify fraudsters applying for credit cards and lending products online.

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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

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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SWBC's LenderHub

AUGUST 18, 2022

As of March 18, 2022, Nacha’s account validation rule requires ACH originators of WEB entries to use a commercially reasonable fraud detection system to verify the first time a consumer checking account is used for an electronic (ACH) payment, if the payment is initiated over an online channel, the account number must be validated first.

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PYMNTS

MAY 13, 2016

A new personal chip card reader will soon hit the market with the goal of protecting consumers while shopping and banking online and ultimately preventing online fraud — at an introductory price of just $20. The assistant can also provide extended authentication and serve as a password manager.

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Fraud Online Cards Security 100

PYMNTS

MARCH 15, 2019

The new Digital Fraud Tracker highlights the latest developments in payments fraud, and how different companies are working to keep funds safe from bad actors as payment solutions grow increasingly faster. Around the World of Digital Fraud. Australia’s CNP fraud problems seem to be part of a broader pattern. million USD).

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The Paypers

JUNE 4, 2024

Global technology provider of identity verification and management, AU10TIX , has recently released its Q1 2024 Global Identity Fraud Report , showing trends in large-scale organised identity fraud.

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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

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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