PYMNTS

DECEMBER 18, 2020

Digital trust-and-safety company Sift said that 2020 has been a “banner year” for online shopping sales, but that scammers have modified their approaches to take advantage of the boom, according to an announcement. Digital fraud is a longstanding issue for retailers and banks. The pandemic has only made these issues worse.

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Report Fraud Strategy Retail 333

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. According to a report by IBM Security , the average cost of a data breach in the financial sector was $5.85

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Online Security Resources Training 221

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3 billion in fraud losses in 2022. billion in 2021.

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

OCTOBER 9, 2020

Brick-and-mortar commerce has rebounded in recent months, but consumers are still heading online for many of their purchases, maintaining trends set in the early months of the pandemic. These include running scheduled checks on their platforms to detect fraud. Why Automated Tools Can Add Security To Online, CNP Transactions.

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Fraud Retail Report Online 188

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.

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Fraud Online ATM United States 158

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.

Fraud 195

Fraud Cards Trends Software 195

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". billion.

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Fraud Video Training Compliance 195

PYMNTS

OCTOBER 1, 2019

A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. Online shopping fraud reports include complaints about items that are never delivered or are not as they were advertised.

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Millennials Fraud Report social media 149

PYMNTS

DECEMBER 2, 2020

At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues. Fraudsters now have more avenues for attack available to them,” Rusi said. The key to this is user experience,” he said.

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Fraud Online Security Compliance 215

PYMNTS

OCTOBER 9, 2020

Online brokerage Robinhood , which offers a suite of tools aimed at making investing easy and comparatively cheap for the uninitiated, said on Friday (Oct. 9) that hackers may have gained information about customers' personal email accounts, Reuters reported. billion.

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Report Security Fraud Tools 336

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. According to ProfitStars, more than 2,500 community and regional banks offer online bill payment to their retail and small business clients through iPay Solutions.

Fraud 156

Fraud Online Analytics Tools 156

Abrigo

JULY 10, 2023

Stay up-to-date on AI fraud trends to protect your clientele Emerging AI fraud schemes reveal holes in financial institution's defenses. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. Here are several suggestions for tightening security.

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Fraud How To social media Security 150

PYMNTS

OCTOBER 15, 2020

The FBI is warning homebuyers to be on the lookout for internet criminals who are sneaking into online conversations between buyers and mortgage companies or other participants in the sale process and providing false instructions that dupe purchasers into wiring funds to the criminals’ accounts, CNBC reported Thursday (Oct.

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Fraud Report America California 162

PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

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Fraud Retail Online Study 124

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

DECEMBER 29, 2020

While fraud affects less than 1 percent of all card purchases, consumers who do lose funds from their bank accounts must go through lengthy and often stressful processes to get their money back. Safeguarding debit card payments is increasingly important, with more consumers shopping online during the pandemic. About The Tracker.

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Fraud Cards Analysis Tools 303

PYMNTS

JULY 25, 2017

Stemming from AI, machine learning is helping technology move at a swifter rate, and as more people bring their shopping needs into the online world, it’s likely that machine learning will play a larger role moving forward. In 2016, online financial fraud hit 15.4

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Fraud Online Retail Maine 196

PYMNTS

JULY 25, 2019

A new report from GIACT Systems has revealed that $3.4 billion was lost due to New Account Fraud (NAF) last year. According to the report, The Evolution of New Account Fraud , produced by Javelin Strategy & Research , NAF tactics have shifted with the growing popularity of online accounts and payments.

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Fraud Report Mobile Strategy 148

PYMNTS

DECEMBER 28, 2020

Nacha is issuing a warning to accounts payable professionals with regards to the rising threat of fraud. Further, Nacha said, the survey revealed AP professionals are facing increasing fraud attempts that target AP processes specifically. But accounts payable is far from the only back-office financial workflow at risk of fraud.

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Fraud Payments Survey Lending 291

PYMNTS

AUGUST 5, 2020

SocialCatfish.com, the identity verification nonprofit, reported U.S. losses from COVID-19 fraud and ID theft have reached nearly $100 million since the pandemic emerged in March, according to Reuters. Even small states saw huge increases in COVID-related fraud in recent months. Those cases have cost victims a total of $97.5

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Study Fraud Pennsylvania California 280

PYMNTS

SEPTEMBER 22, 2020

More than 200,000 Americans have lost $145 million linked to the COVID-19 pandemic since the start of the year, the Federal Trade Commission (FTC) reported on Tuesday (Sept. Fraud has soared during the coronavirus, spurred by the massive shift to digital that has left doors open for scammers.

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Report Fraud California Online 256

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.

Fraud 36

Fraud Report Online Trends 36

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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Video Fraud Training Analysis 195

PYMNTS

AUGUST 3, 2020

When it comes to B2B payments fraud, it’s not a matter of if it happens, but when. Speaking with Karen Webster in a recent interview , OnPay Solutions President and CEO Neal Anderson explained that organizations have to prepare themselves to mitigate the fraud threat, even as employees work from home. ” $4.13 ” $4.13

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Fraud Payments Philadelphia Regional 328

PYMNTS

AUGUST 21, 2020

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 ATMs are common avenues for fraud, however, especially those that are running outdated software. billion by 2024. Deep Dive: Keeping Digital-First Banking Secure With AI, Biometrics.

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Analytics Fraud ATM Report 266

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.

Online 195

Online Report Compliance Fraud 195

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

Fraud 195

Fraud How To Training Trends 195

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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Fraud Compliance Community Trends 195

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. At the same time, a new report shows that fraudsters will take more than $12 billion off the table.

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Fraud social media Online Retail 230

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. A growing target for elder fraud and exploitation. Fraud Tactics. Baby Boomers. Learn More.

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Fraud Training United States Survey 195

Bank Innovation

FEBRUARY 2, 2018

As online banking becomes more popular, countries are grappling with cybersecurity. In Denmark, the advent of digital banking also saw almost a 60% jump in card fraud, Bloomberg reported yesterday.

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Fraud Digital Banking Cards Online 246

PYMNTS

NOVEMBER 8, 2020

The federal Paycheck Protection Program (PPP) designed to blunt the economic impact of the pandemic is beset by extensive instances of fraud, The Wall Street Journal (WSJ) reported, attributing the conclusion to public records and interviews with government officials. The program provided about $525 billion to 5.2 million businesses.

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Fraud Report Company Online 271

PYMNTS

AUGUST 26, 2019

22) the Justice Department unsealed an indictment —spanning 252 counts — against 80 defendants for alleged online scams that bilked firms and individuals of tens of millions of dollars. As reported, many of those indicted are Nigerian nationals. Late this past week, on Thursday (Aug. The indictment was unsealed by the U.S.

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Fraud Online Portland Los Angeles 145

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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Fraud Data Cards Software 154

PYMNTS

NOVEMBER 28, 2018

Google, the FBI and White Ops, along with a handful of cybersecurity companies, recently collaborated to shut down a digital ad fraud scam that used 1.7 According to a report in The Hacker News , the fake clicks were used to trick online advertisers for years and make tens of millions of dollars as a result.

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Google Fraud Online Operations 128

PYMNTS

OCTOBER 12, 2020

Consumers are still shopping online more than ever seven months into the global COVID-19 pandemic. One recent study found that new customer accounts now represent 30 percent of all transactions made online, for example, five times as many as they did prior to the crisis. Shifting Payment Behaviors And Fraud .

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Fraud Retail Online Examples 199

PYMNTS

OCTOBER 8, 2020

Feedzai has seen the increase in fraud and scams with the pandemic. The company says its fraud solution works to decrease costs and more efficiently target the activity. percent of users who hadn’t experienced fraud were concerned about it, too. And meanwhile, 35.7

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Report Fraud Risk Management America 247