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

Abrigo

DECEMBER 10, 2024

Education, collaboration, and advanced fraud detection software can help prevent it. The increasing threat of elder fraud On December 4, 2024, FinCEN, along with the supervisory agencies, issued a s tatement on e lder f inancial e xploitatio n, or elder fraud. Get details What is elder financial exploitation?

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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. Getting security right also means balancing customers’ security and privacy concerns. Read the full story in the Tracker.

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Abrigo

FEBRUARY 6, 2025

Unfortunately, scammers take advantage of this time to exploit vulnerable individuals through confidence scams, one of the most prevalent and costly types of fraud in the U.S. billion of reported losses due to this type of fraud in 2023 and around 40,000 victims in the United States. Staying on top of fraud is a full-time job.

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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

AUGUST 5, 2020

While video streaming services remain popular, research indicates more consumers are also turning to online gaming and gambling platforms. The Tracker also examines how both fraudsters and online gaming platforms are employing new emerging technologies to muscle bad actors out of these services. Skillz Takes Offline Bowling Online.

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Online Report Fraud Mobile 278

PYMNTS

OCTOBER 22, 2020

As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 That’s a path that McCutcheon said will have challenges, but perhaps fewer than we’ve seen in the recent history of security upgrades. also known as “3DS 2.0” Why 3DS 2.0

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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. Cybersecurity Awareness Month is now in its 20th year and has a new enduring theme: Secure Our World.

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Online Security Resources Training 221

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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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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Fraud Compliance cryptocurrency Security 270

PYMNTS

DECEMBER 21, 2020

Or do they appear to be casing the joint and attempting to memorize the location of the security cameras? It’s simply been taken for granted that when it comes to consumer behavior online, large segments of it are going to be invisible. Using those cues builds a consumer experience that is both more secure and frictionless end-to-end.

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Fraud Analytics Data Security 315

PYMNTS

DECEMBER 18, 2020

Savvy shopping can sometimes cross the line into outright fraud , however, with bad actors violating terms of redemption, assuming false identities or conducting myriad other schemes to wage promotion abuse fraud. This move means Walgreens is facing more instances of promotion abuse fraud than many other retailers.

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Fraud Retail Online Customer Experience 275

PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Security challenges are mounting, too.

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PYMNTS

APRIL 9, 2020

Building a secure customer journey is always a bit of a balancing act. It has to be secure first and foremost, particularly when payments data is on the line. The battlegrounds for preventing fraud, he noted, are shifting — which means firms need to be able to shift with and ahead of the fraudsters.

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Online Fraud Security Branding 236

PYMNTS

AUGUST 5, 2020

Tim Horton , head of global merchant security and fraud solutions at Fiserv , told a recent PYMNTS Masterclass that online purchases have more than doubled year on year in the general retail segment, while online grocery sales have surged by 250 percent. But put the same consumer online and the story is very different.

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Security Fraud Data Online 267

Abrigo

MARCH 18, 2025

Payment system types, trends, and fraud risks Understanding how payment systems function, the different types in use, and the associated risks is critical for financial institutions to be able to balance innovation with security. Payment systems are at the heart of modern banking, enabling secure and efficient money transfers.

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System Payments Fraud Regulation 195

PYMNTS

OCTOBER 8, 2020

The growing cost of online fraud – and finding ways to detect it – has long been a costly concern of financial institutions (FIs). If you beat the geolocation fraud, you beat all the fraud,” Briggs said. For instance, Briggs recalled that he was once blocked from paying some large bills online while traveling in Italy.

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Fraud Seattle Security Technology 266

PYMNTS

NOVEMBER 13, 2020

Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses. The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. More than 6.2

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South State Correspondent

APRIL 1, 2025

Popular use cases include request for payments using the instant payment rails (above), loan payments and transaction verification to prevent fraud. Secure Authentication: RCS offers stronger security features compared to SMS, making it a viable option for two-factor authentication and other bank security measures.

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Marketing Security Analytics User Experience 195

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. The Security Threats Facing ITMs And How FIs Can Protect Them. billion by 2024.

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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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PYMNTS

JANUARY 28, 2021

It is well known that shoppers tend to behave differently online than they do in brick-and-mortar stores — and this extends to how they choose to pay at checkout. One of the more notable differences is their tendency to favor credit cards online and other options such as digital wallets over debit cards.

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Cards Online Security Data 210

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. Recent data shows that thwarted attempts to get one security solution’s users to visit malicious, video game-themed websites rose 54 percent from January to April.

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Online System Fraud Video 222

PYMNTS

SEPTEMBER 29, 2020

A new Mastercard initiative aims to improve online transaction clarity so that customers can know exactly who they purchased from, according to a press release Tuesday (Sept. By enriching transaction details, merchants can alleviate friendly fraud, reduce chargebacks and improve the customer experience.”.

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Online Guidelines Study Fraud 243

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 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. Along with the security benefits, Kount’s product will also ensure “marketing campaign efficiency and conversion,” the company added. In a Tuesday (Aug.

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PYMNTS

JULY 12, 2020

The Electronic Crimes Task Forces and Financial Crimes Task Forces will be merged into the Cyber Fraud Task Forces (CFTF). Meanwhile, “traditional financial crimes investigators worked to secure and protect the U.S.

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Fraud Training Security Analytics 213

PYMNTS

NOVEMBER 17, 2020

Onboarding these customers can be a tedious challenge prone to fraud and consumer frustrations, and the industry faces the ever-looming threat of SIM swap fraud. Customers still face potential fraud threats once they are signed up, with SIM swap fraud being a particularly common foe.

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Fraud Company social media Cards 267

PYMNTS

SEPTEMBER 23, 2020

But George Connors , senior vice president of gaming and sports solutions at Fiserv , told PYMNTS in a recent conversation that other things have remained the same — like online gaming. market as regulatory restrictions were lifted from online gambling in recent years. The user experience has to be good,” he said. “If

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Online Security Cards User Experience 221

PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. Most online merchants rely solely on SSL/TLS to encrypt the data being sent from their websites. Each $1 of fraud costs retailers $3.13. . Getting the European Union on the path to 3D Secure 2.0

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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

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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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

Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations.

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Fraud Payments Software Policies 221

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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Fraud Resources social media Software 195

PYMNTS

SEPTEMBER 22, 2020

QSRs that offer mobile order-ahead options as well as convenient online ordering methods are expanding their sales significantly through these digital channels during the pandemic. It also analyzes how focusing on the customer experience can help prevent such fraud in the first place. How Friendly Fraud Develops.

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Fraud Mobile Tools Study 255

PYMNTS

JANUARY 27, 2021

This increased digital presence also brings a greater risk of digital fraud, however. Some schemes that are impractical to wage in person are simpler to perpetrate online because of a decreased security presence, the anonymity of transactions and fraudsters’ abilities to stage hundreds of attacks simultaneously.

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Security Innovation Fraud Study 213