PYMNTS

MAY 8, 2020

The shift to digital commerce is more urgent than ever — and so are some of the potential pitfalls as fraudsters recalibrate their attacks and eye card-not-present transactions as a new way to make off with ill-gotten gains. Existential Points Of Pivot. The restaurant and grocery sectors have also been transformed. Gearing Up For Fraudsters.

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PYMNTS

JUNE 20, 2019

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

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PYMNTS

OCTOBER 9, 2020

The October Next-Gen Debit Tracker® analyzes how both digital shopping and digital fraud are growing simultaneously, and what merchants can do to ensure that debit-based card-not-present (CNP) transactions are protected. These include running scheduled checks on their platforms to detect fraud.

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Bank Innovation

MARCH 8, 2019

Wirecard AG expects the final report on an investigation concerning alleged fraud at its Singapore unit to be presented soon, according to a person familiar with the matter.

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PYMNTS

NOVEMBER 23, 2018

But those illegal marketplaces — often called the “Dark Web” — also present a juicy opportunity for those fighting fraud to detect and even preempt criminal activities than cost businesses revenue and, often, parts of their brand reputation. As he sees it, “credit card fraud is the slush fund for much worse stuff.”.

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PYMNTS

FEBRUARY 18, 2019

So much of the focus on fraud these days involves exploiting holes in software, hacking into systems to steal personal information and payment data, or otherwise using digital methods in heists. But recent news involving “death-spiral financing” reminds us that fraud is still conducted in other, relatively old-fashioned ways.

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PYMNTS

DECEMBER 8, 2020

As the holiday shopping season kicks into high gear amid an unprecedented pandemic-era surge in online shopping, banks and merchants are bracing for an associated spike in fraud , disputes and chargebacks. Fighting Friendly Fraud. For every $1 in legitimate fraud, there is $13 in transaction value that is falsely declined,” he said.

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PYMNTS

APRIL 22, 2019

However, regardless of how corporates adopt faster payment technologies, many experts agree that the acceleration of payments in the country will have profound effects on the broader financial services space, and those changes are likely to impact how companies manage money and operate in a new ecosystem of payments innovation.

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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.”. There was an eternal perception about the way to approach fraud,” said Byrnes.

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PYMNTS

DECEMBER 10, 2019

The tools we use to detect, score and prevent fraud — particularly card-not-present fraud in digital transactions — have improved exponentially in the last half-decade. As of today, 85 percent to 95 percent of synthetic fraud identities are easily slipping past risk detection systems that are failing to flag them.

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PYMNTS

OCTOBER 3, 2016

No one is immune from digital fraud. They don’t have to worry about any sense of fraud; the only threat they have to worry about is who the team is playing today and how do we win this game,” she added. But there are a number of reality checks that businesses must take into account when operating in this increasingly global world.

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PYMNTS

FEBRUARY 19, 2019

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. That’s where Kevin Lee comes in. Changing Scope. The stakes could hardly be higher. Insult Rate.

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PYMNTS

NOVEMBER 17, 2020

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. And on top of it all, as People’s United Bank’s Boyer noted, there’s still old fashioned fraud with which to grapple, too. “So,

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PYMNTS

OCTOBER 6, 2020

A fact of our new reality that has snapped sharply into focus over the last half year as restaurants of all sizes and descriptions have had to rapidly reset their operations for a world where restaurants were first closed down entirely and, even when they reopened, customers have remained reticent about dining out. Dining has gone digital.

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PYMNTS

FEBRUARY 19, 2020

Not so long ago, payments cyber fraud was done primarily by brute force, through guessing passwords and usernames — a scattershot approach akin to trial and error, conducted by lone individuals or small groups. Fraud is an industry for the crooks now. With the evolution of fraud, the detection and prevention efforts also change.

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PYMNTS

OCTOBER 24, 2018

When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. The rule of thumb here is that after committing account takeover fraud, those fraudsters lie in wait before using the stolen account.

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Perficient

MAY 15, 2023

Doing so will offer them the insights needed to tailor services and develop highly personalized products that can be presented to the most relevant customers at the right times. Institutions can also compare their customer data with external data (ie. Risk & Fraud Prevention. market trend data, economic data, etc.)

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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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PYMNTS

JULY 10, 2019

These platforms promise fast, seamless transactions, which most deliver – but when platforms focus on reducing friction for users, it can backfire and create new vulnerabilities to fraud. An unexpected consequence of the retailer race to offer same-day and one-day delivery is increased fraud exposure. Nearly one-third (30.4

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Fraud Strategy Study Comparison 140

PYMNTS

NOVEMBER 22, 2019

Fraud is hardly a new phenomenon in retail — in fact, it is probably safe to assume that fraud in some form or other has been there since the beginning. Fraud, in some sense, is, was and always will be a cost of doing business in the world of retail. What we’ve seen is that fraud has gone mainstream,” Naumann said.

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PYMNTS

MARCH 11, 2020

FIs in the United Arab Emirates are also looking to get ahead of fraud with improved digital KYC practices. Taking A Local Approach To Fighting Money Laundering, Fraud Worldwide. They also must keep their honest merchant customers protected from fraud. Download the Tracker to read the Feature Story. About The Tracker.

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Fraud Payments Guidelines Regulation 150

Abrigo

AUGUST 5, 2024

The basics of counterfeit check detection for banks and credit unions Check fraud is surging and technology advances aren't helping. The ABA Banking Journal reports that check fraud could reach a staggering $24 billion in losses in the U.S. this year, making up 60% of all attempted fraud.

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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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PYMNTS

OCTOBER 29, 2018

There may come a day, a generation or two from now, when stories about the data breaches and other hacking threats faced by payments and commerce operators in 2018 seem quaint — or, at the least, like relatively primitive foreshadowing of a new type of digital criminality. It’s already happening, of course, albeit tentatively.

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PYMNTS

JULY 8, 2020

Adding to the series of legal difficulties for Wirecard , the Justice Department is looking to see if the German payments company had an essential part in a purported $100 million bank fraud case involving a digital cannabis firm, The Wall Street Journal reported, citing unnamed sources.

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Perficient

JULY 20, 2023

Businesses seek to optimize their operational efficiency as part of their digital transformation. In today’s business environment, physical checks present several challenges that hinder operational efficiency, including time-consuming processing, high costs, and susceptibility to errors or fraud.

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PYMNTS

JUNE 10, 2019

About a month after reports surfaced that commercial fleet payments technology firm FLEETCOR is facing a lawsuit over claims of anticompetitive behavior, a new report from Citron Research is accusing the company of clean energy fraud.

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PYMNTS

MAY 10, 2019

Following a claim of fraud by a short seller, shares in eCommerce firm Jumia fell by almost 25 percent by midday New York time on Friday (May 10) and traded at $20.30 Short seller Citron Research claimed, according to reports, that it had a confidential presentation Jumia made to investors in October. EST, according to Yahoo!

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PYMNTS

SEPTEMBER 19, 2019

As well, successful criminals know that their targets are often complex systems — and complex systems offer many opportunities for financial fraud and massive theft. Welcome to the world of advertising fraud. Even so, Xie said, better cooperation could help prevent more of the particular type of fraud. Delayed Response.

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PYMNTS

FEBRUARY 3, 2020

Debit card fraud can have far-reaching consequences that extend beyond those of credit card fraud, as debit technologies link directly to customers’ bank accounts. Preventing or minimizing damage caused by fraud is critical to maintaining customers’ trust and loyalty, after all. . Fraud And The Problem Of Convenience.

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Abrigo

SEPTEMBER 25, 2024

As interest rates fall, the loans will offer more affordable monthly payments, allowing small businesses to reinvest savings into their operations. According to a 2023 training presentation by the SBA, lenders can find a data entry guide for E-Tran on the landing page of CAFS after logging in. appeared first on Abrigo.

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South State Correspondent

OCTOBER 16, 2024

To support debit card operations, a bank gets charged a myriad of transaction charges and maintenance fees from the card rails (Visa, Mastercard, Discover, etc.), Materials, training, and fraud also contribute to bank expenses. the network (Interlink, Pulse, Shazam, etc.) and the bank’s processor (usually their core).

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PYMNTS

MAY 12, 2020

Montgomery, the Federal Reserve Bank of Boston’s first vice president and chief operating officer and FedNow program executive, said the community “will help influence FedNow Service design and our development roadmap by providing input on desired service features, technology and implementation plans.”. In a statement, Kenneth C.

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Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? From transaction monitoring to detecting unusual activities and facilitating report filing for reviews and audits, regtech solutions for banks can streamline and optimize compliance operations.

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Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? From transaction monitoring to detecting unusual activities and facilitating report filing for reviews and audits, regtech solutions for banks can streamline and optimize compliance operations.

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

APRIL 25, 2019

Today, the internet makes discovering and then executing creative ideas not much more than a mouse click away — which makes exploiting death for the purposes of identity fraud easy, too. The interview comes amid heightened attention to synthetic and other growing forms of digitally-based fraud. Many Victims.

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PYMNTS

JULY 7, 2020

Digitizing operations tops the list of merchant imperatives, but getting there can be a struggle — especially when it comes to digitizing the checkout experience for a post-pandemic age. Those types of technology initiatives are increasingly being adopted by businesses of all sizes, said Park, across card-not-present (CNP) transactions.

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