PYMNTS

NOVEMBER 16, 2020

Leslie Ragan manages transaction fraud prevention for Elan Financial Services , a unit of U.S. In an interview with PYMNTS, Ragan said technology developments have enhanced the industry’s fraud-fighting strategies, but customer awareness is still a critical component of preventing bad actors from succeeding.

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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.

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South State Correspondent

JULY 18, 2024

According to a 2022 Association for Financial Professionals report, 66% of organizations experience check fraud. In our last deep dive into the cost of checks for banks ( HERE ), we estimate that checks will end up costing banks about $12 per check (below) in 2024 when you add up branch costs, operational processing, and fraud.

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PYMNTS

OCTOBER 19, 2018

They are able to use cutting-edge technology, black-market websites and top-level, nimble and well-secured global networks to work their craft. At the least, it won’t get any better — not according to any anti-fraud expert who is worth their rate. million fraud crimes in 2017, Trilli said, and $22.1 In the U.S., there were 16.7

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PYMNTS

OCTOBER 29, 2018

But those gains come with fresh concerns about digital security. Security Vulnerabilities. The main areas of security risk? Those devices are not the microchips from those programs in Wisconsin and Sweden — nor, of course, the chips implanted into pets.

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Insights on Business

FEBRUARY 13, 2019

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. IBM and TD Bank jointly developed cyber security incident response solution for the financial services industry. Phishing attacks.

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FICO

DECEMBER 5, 2022

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Our survey found that good fraud protection is paramount for customers - even though they themselves may exaggerate income or claims. A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8 FICO Admin.

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PYMNTS

JANUARY 17, 2020

This increasingly sophisticated group poses a growing and costly headache to those who value the model, forcing businesses to spend billions on fraud-fighting technologies. Preventing fraud with seamless and secure onboarding solutions is key. million fraud reports in 2018, resulting in $1.48 trillion a year.

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Independent Banker

OCTOBER 1, 2022

Financial fraud and cyber attacks aren’t a one-age-fits-all scenario. Community banks can find ways to mitigate age-related fraud through technology, as well as by educating their customers of their particular risks. We look at community banks’ options for fighting this type of crime. By Katie Kuehner-Hebert. Rehman Khan, Travelers.

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FICO

MAY 18, 2023

The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS). The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS). You can read more about this story in the full media release.

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PYMNTS

APRIL 5, 2019

Dozens of cybercriminal groups have found a home on Facebook , using the platform’s online marketplace to sell illegal services such as stolen credit card information, as well as account theft and spamming tools, according to Cisco Systems’ Talos security unit.

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PYMNTS

JUNE 15, 2017

Can data make all the difference in the fight against payments fraud? The discussion played off the findings of a new whitepaper from the firm titled, “Driving Up Conversion with Effective Fraud Management.”. Yes — if you know what to do with the data, and if you know where to find it in the first place.

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PYMNTS

OCTOBER 14, 2016

One firm, IdentityMind Global, provides real-time risk management and fraud prevention through “digital identities,” collecting data across dozens of parameters and separating the financial ecosystem into good actors — those deserving of trust (and completed transactions) — and, well, bad actors.

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Accenture

OCTOBER 3, 2017

Based on this survey of over 2,000 consumers, it’s clear that online retailers, tech firms and social-media players face an uphill battle to convince consumers to allow them access to their financial data. Trust in online platforms and social-media companies as providers of payments services is low. So why not?

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PYMNTS

JUNE 3, 2016

Check out who secured venture capital in our breakdown below. Enterprise Security. Ionic Security. It may have begun as a way for individuals to take control of the data they share on social media sites, but Ionic Security has begun to shift its focus to securing the data of enterprises and their employees.

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PYMNTS

FEBRUARY 6, 2018

Perhaps the last and best hope in the battle against ID fraud – the kind that brings ruin to credit reports and billions of dollars in losses to card companies and merchants. This is the percentage of new account fraud victims who discover they are, well, victims when they are contacted by a debt collector. Digital DNA.

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PYMNTS

JANUARY 30, 2020

In its Q4 2019 earnings release, Facebook reported a 51 percent spike in expenses for 2019, as the social media platform faces more questions from regulators and policymakers. FICO’s Take on Debit Security. As fraud evolves, old forms of cybersecurity are not enough to keep up criminals’ increasingly innovative attacks.

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PYMNTS

MARCH 21, 2019

The uptick in fraud comes as banks wrestle with fighting data breaches, some of which are high-profile and are shaking consumers’ confidence. The report also found that in 2018, there was an increase in traditional unauthorized fraud, in which customers are tricked into transferring money to criminals.

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PYMNTS

SEPTEMBER 25, 2020

Mastercard has grown its Digital-First Card Program in North America as demand rises for digitally-driven money management offerings. HSBC To Staff: Stay Off Bank’s Social Media Accounts . HSBC To Staff: Stay Off Bank’s Social Media Accounts . Report: Hanging Up The Phone On Mobile Remittance Fraud.

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PYMNTS

NOVEMBER 27, 2019

Medication management features are currently in testing with customers of the Giant Eagle Pharmacy chain, which is based in more than 200 supermarkets. Facebook has reportedly been revealed as “Party A” in the attempt to acquire health tech company Fitbit, per a report citing a Securities and Exchange Commission (SEC) filing.

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PYMNTS

SEPTEMBER 11, 2018

Digital ID and authentication are always vital topics for payments and commerce — but now, given recent developments, including in social media, they have taken on new importance. So much of digital identity relates to the question of security. So, what does the future hold, given the current reality of individual digital ID?

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PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. That’s according to the U.S.

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FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. Vice President, Product Management. Financial institutions (FIs) are not letting fraud trends like scams fade into background noise, but fraud awareness is rising among customers and both the banks and customers are eager to mitigate as much as possible.

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PYMNTS

JUNE 23, 2019

Byrne told CNN Business that the social media giant’s launch of its own digital currency validates the space — and Overstock would be open to partnering with Facebook on the project. Byrne predicted that security tokens will reduce friction in capital markets while also improving price discovery. I perpetrated a fraud.

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PYMNTS

OCTOBER 22, 2018

Facebook is reportedly gearing up to acquire a cybersecurity company in an effort to assure users that security is a top priority of the social media company. CNET , citing a report from The Information, reported Facebook has reached out to several security companies that could be takeover targets.

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BankBazaar

MAY 18, 2020

This has been accompanied by an increase in cyber frauds as well. This has been marked by an increase in digital frauds as well. Among all digital channels, the one that has seen the most rise in frauds is the Unified Payment Interface (UPI). This has been marked by an increase in digital frauds as well. Phishing scams.

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PYMNTS

JULY 16, 2019

Banks are innovating their application programming interface (API) platforms to allow for more third parties, while online merchants are prepping for a potential loss in revenue due to the security frictions that SCA might bring. Fraud isn’t the only thing banks and merchants are concerned over when it comes to SCA’s upcoming deadline.

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PYMNTS

AUGUST 23, 2019

These marketplaces also need to make sure that payments, however quick, remain safe and secure as fraudsters continue to hammer at the gates. The Playbook also examines the increasing threat of fraud as more marketplaces deal with data breaches and their aftermath. An AI-Powered Visual Shopping Experience For Millennials, Gen Z.

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PYMNTS

NOVEMBER 12, 2018

Nordstrom has suffered a data breach that exposed employee names, Social Security numbers, dates of birth, checking account and routing numbers, salaries and more. Employees who may not have regular access to corporate email accounts were being notified by their managers at work.

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Accenture

APRIL 17, 2017

As these points of exchange proliferate, banks increase their information security risk. Accenture recently survey 275 security executives to hear their views on the state of cybersecurity in the banking industry. It’s no surprise that the target of the hackers in the first season of the hit TV show ‘Mr. Robot’ was banks.

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PYMNTS

AUGUST 21, 2019

What can make all that so much worse is fraud. Unfortunately, where there is tragedy, there is fraud.”. That data can go a long way toward tighter, more secure verification and authentication efforts. Even social media is getting in on the act. The chaos and misery can be overwhelming,” Cohen said. Another factor?

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PYMNTS

MAY 30, 2018

The Securities and Exchange Commission (SEC) announced on Tuesday (May 29) that it has obtained a court order to stop a fraudulent initial coin offering (ICO) allegedly run by Titanium Blockchain Infrastructure Services Inc. The complaint also charges another Stollaire company, EHI Internetwork and Systems Management Inc.

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PYMNTS

JANUARY 30, 2020

Another hair in the soup is Generation Z’s increasing preference toward social media marketplaces that eschew established eCommerce platforms entirely, forcing these businesses to change tactics. How AI Can Help With Consumer Onboarding Security. About the Playbook.

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FICO

AUGUST 8, 2022

We are calling on our customers who are achieving outstanding success using analytics and decision management solutions from FICO to submit nominations for the awards. . Customer Onboarding and Management. Debt Management. Decision Management Innovation. Fraud Management. Cloud Deployment. ESG Champion.

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PYMNTS

OCTOBER 18, 2019

In the United States, according to some sources such as Javelin , more than one million children were victimized by identity theft — and the fraud costs their families more than $540 million. In an interview with Karen Webster, Zac Cohen, general manager of Trulioo , said kids’ Social Security numbers represent a relatively easy target.

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Qudos Bank

FEBRUARY 15, 2024

While dating apps, social media networks and gaming apps are great to connect with like-minded people, they could also put you at risk of connecting with a scammer that will manipulate you for money. The scammer will pretend that they’re an Investment Manager or Broker. Million in overall losses. million dollars.

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PYMNTS

JULY 16, 2020

Wednesday’s wave of hacking attempts did pull off part of their intended effect, as the scammers managed to get around $117,000 from some 401 transactions sent to two email accounts.

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