PYMNTS

JANUARY 13, 2021

Experts predicted that up to $190 billion would be spent online this year, a 35.8 The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Phishing scams were on the rise all year, while a survey of online shoppers found that 40.3

Fraud 189

Fraud Analytics Data Retail 189

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. .

Fraud 195

Fraud Training United States Survey 195

PYMNTS

DECEMBER 8, 2020

The holidays aren't always so cheery as the risk of fraud plagues consumers and retailers alike. With the pandemic accelerating a surge in eCommerce volumes, online fraud threats are at their peak, and everything from chargeback fraud to online product scams are dampening the holiday spirit. Corporate-Facing Fraud.

Fraud 178

Fraud Survey Philadelphia Online 178

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

Fraud 154

Fraud Data Cards Software 154

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 .

Online 222

Online System Fraud Video 222

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.

Fraud 195

Fraud Trends Survey Technology 195

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Customer Experience 59

Customer Experience Survey Fraud Cards 59

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.

Fraud 270

Fraud Compliance cryptocurrency Security 270

Bank Innovation

SEPTEMBER 11, 2017

Fraud remains a significant problem for financial services to solve, especially as digital and online banking becomes more prevalent in the industry. For the average FI and online lender, approximately one-third of all monthly transactions will be fraudulent.

Online 199

Online Fraud Survey Industry 199

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

Fraud 242

Fraud US Mobile Study 242

PYMNTS

DECEMBER 1, 2017

Here’s a nice change of pace going into the weekend: It looks like online fraud did something unsual for Black Friday this year. For the first time in several years, credit card fraud (the most common fraud form factor for retailers online) fell to 42 percent of total fraud during the holiday shopping weekend.

Fraud 118

Fraud Retail Online Cards 118

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.

Fraud 316

Fraud Michigan Security Cards 316

PYMNTS

SEPTEMBER 22, 2020

One recent study estimated that roughly 44 million Americans would tap food delivery apps by the end of this year, up from 38 million in 2019, and another survey predicted that the number of smartphone delivery app users will climb 25.2 It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

Fraud 255

Fraud Mobile Tools Study 255

PYMNTS

OCTOBER 3, 2019

Though fraud technology has evolved to combat the monster of payments fraud, there is a growth threat for banks that innovators are also paying attention to as financial institutions (FIs) increase their appetite for such tools. percent of overall revenue to lending fraud, compared to as much as 5.8 percent for smaller banks.

Fraud 158

Fraud Lending Technology Survey 158

Bank Innovation

JULY 25, 2017

Customer fears about card security and fraud is increasing, but as it turns out, fewer consumers are actually experiencing that fraud. This is according to the Consumer Payment Card Data Security Perceptions survey by data solutions provider Transaction Network Services, released today.

Fraud 230

Fraud Cards Survey Security 230

PYMNTS

MARCH 31, 2016

This week, PYMNTS, in collaboration with Socure , released the March edition of the PYMNTS.com Digital Identity Tracker TM , featuring all new research surrounding the increase in online fraud fueled by the increase in EMV card chip tech adoption. Other highlights from the survey include: Only 1.1%

Fraud 100

Fraud Online Resources Survey 100

PYMNTS

JANUARY 15, 2021

Brick-and-mortar merchants and online retailers alike often rely on end-of-year sales to generate up to 40 percent of their annual revenues and start the new year on a positive note. consumers were expected to spend more than $190 billion online this season, up 36 percent from 2019, while in-store commerce was predicted to fall by 4.7

Retail 159

Retail Online Fraud Cards 159

PYMNTS

JANUARY 18, 2021

People in general are more aware of — and concerned about — fraud as we pass through a second season of COVID, and eCommerce continues to rack up impressive stats, good and bad. New threats are evolving all the time,” KP Brendel, director of marketplace operations at online thrift and consignment storefront Swap.com, told PYMNTS. “New

Fraud 144

Fraud Security Study Retail 144

PYMNTS

APRIL 1, 2019

When it comes to online shopping, one of the greatest frustrations for consumers — and friction points for merchants — is having to manually enter credit or debit card information for each purchase. percent of consumers today have account information stored online with at least one or more companies or service providers.

Online 212

Online Cards Mobile Maine 212

PYMNTS

SEPTEMBER 18, 2017

According to a recent survey by Transaction Network Services (TNS), 85 percent of adults in the United States, United Kingdom and Australia believe fraud attempts on debit and credit cards are on the upswing. In-store results of the TNS survey show less trust in in-person transactions than online transactions.

Survey 117

Survey Security Data United States 117

PYMNTS

AUGUST 11, 2020

The FTC also warns consumers not to pay for job opportunities or for online ads promising ways to earn money. A recent notice from the Financial Industry Regulatory Authority (FINRA) warned that “events with such profound impact” like the coronavirus “routinely create opportunities for financial fraud.”.

Fraud 174

Fraud Taxes Survey Cards 174

FICO

DECEMBER 16, 2019

The Communications Fraud Control Association (CFCA) recently released the findings from its Global Telecom Fraud Survey. Fraud teams operate with lean structures. The majority are still using primarily rules-based fraud management systems, with just 6% using AI and machine learning. of respondents.

Survey 52

Survey Fraud Cyber Security Compliance 52

PYMNTS

DECEMBER 16, 2019

’Tis the season for corporate fraud? the FBI recently issued a warning for holiday shoppers of a new scam called eSkimming , in which cyber criminals hack into legitimate online retailer websites to steal shoppers’ credit and debit card details. Yet, analysts warn, as cross-border B2B payment volumes rise, so does the risk of fraud.

Fraud 149

Fraud North Carolina Payments Delaware 149

Bank Innovation

OCTOBER 19, 2018

Noncash payments fraud in the U.S. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. billion in 2012 to $8.3 billion, in 2015.

Study 150

Study Fraud Payments Survey 150

The Paypers

AUGUST 23, 2023

Telesign , a provider of customer identity and engagement solutions, has released more data from its 2023 Telesign Trust Index , highlighting the dynamic of online fraud.

Fraud 36

Fraud Survey Millennials Online 36

PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch .

Fraud 148

Fraud Strategy Study Cards 148

The Paypers

AUGUST 19, 2021

Ecommerce fraud prevention solution provider Riskified has released a survey revealing the enduring financial impact of fraud and how it’s perceived in the eyes of shoppers versus retailers.

Survey 31

Survey Fraud Retail Online 31

PYMNTS

OCTOBER 28, 2019

Digital fraud prevention company Kount is rolling out a complete solution to protect companies from criminal and friendly fraud, the firm announced in a press release on Monday (Oct. Kount’s digital fraud prevention uses artificial intelligence (AI) that mimics a fraud analyst.

Fraud 101

Fraud Customer Experience Analytics Survey 101

PYMNTS

NOVEMBER 17, 2020

That sets the stage for fraudsters to follow the money as consumers transact online — and steal a large chunk of that money. Panelists included Schalk Nolte , CEO of Entersekt ; Jen Martin , head of Fraud Operations at KeyBank ; and Karen Boyer, Fraud Intelligence Director, Financial Crimes at People’s United Bank.

Fraud 195

Fraud Mobile social media Security 195

PYMNTS

NOVEMBER 30, 2020

There are other benefits that the function could provide, however, including more robust fraud protection. How can banks better communicate the benefits of location sharing — and its vast potential to combat fraud — to customers who are on the fence? The report surveyed 2,141 U.S.

Fraud 171

Fraud Data social media Millennials 171

PYMNTS

JULY 5, 2017

Fraud is like gluten. Most organizations have resigned themselves to the fact that, despite their defenses, fraud is just a part of doing business. But fraud costs an average of 7.5 But alongside all of that opportunity comes risk of fraud.”. That’s why Vesta went straight to the top when conducting the survey.

Fraud 161

Fraud Survey Retail Resources 161

PYMNTS

JUNE 4, 2019

According to a report in The Financial Times , the new rules, which require more verification for online payments of more than €30 and go into effect in September, require big changes to processes and technology at retailers, banks and payment groups. The new rules are aimed at reducing fraud.

Online 166

Online Survey Industry Retail 166

PopularBank

NOVEMBER 14, 2024

Online scammers, in particular. Credit card fraud When an unauthorized person gains access to your credit cards, fraud may follow. Regardless of how they gain access, scammers can commit serious credit card fraud in seconds. But the consequences of not doing so can prove far worse if you don’t catch fraud quickly.

Fraud 52

Fraud social media Cards Security 52

PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

Fraud 177

Fraud Mobile social media Customer Experience 177

FICO

APRIL 20, 2023

According to FICO’s latest survey of consumers from 14 countries around the globe, 90% of all consumers have sent a real-time payment, and at least 95% of consumers have used real-time payments in India , Indonesia , the Philippines , and Brazil. Throughout the countries we surveyed, RTP usage shows no signs of slowing.

Survey 52

Survey Payments Fraud Management 52

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.

Cards 210

Cards Online Security Data 210

PYMNTS

SEPTEMBER 9, 2020

Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. Almost 65 percent of FIs said in a recent survey that their customers are now making more CNP payments, for example.

Cards 162

Cards Fraud Retail Online 162