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

MAY 2, 2017

Credit card fraud is a fact that will likely continue to plague retailers for the foreseeable future. It’s on the rise in the eCommerce arena, according to data released from omnichannel commerce technology and operations company Radial’s eCommerce Fraud Technology Lab. What happened was exactly what was expected.

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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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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

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

SEPTEMBER 15, 2020

The world needs a FinTech operating system.”. He also cited “banks’ aversion to taking on risk and fraud” in a proactive manner that leads them to create and promote new card offerings. The world doesn’t need another bank,” Poovala told Webster. If you give your card, you can forget about it.”.

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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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Perficient

NOVEMBER 1, 2024

The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks. The report identified opportunities and challenges that AI presents to the security and resiliency of the financial services sector.

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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 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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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.

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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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Perficient

AUGUST 23, 2021

Connected experiences, in the context of the customer relationship, are driven by a robust data set that confidently presents integrated, diverse data to enable actionable insights that can be automated across the customer’s journey.

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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

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

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

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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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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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

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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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

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

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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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 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

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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Abrigo

AUGUST 13, 2024

Fraud Talk Stay up to date Podcasts for bankers and credit union execs, staff Below is a list of 10 banking podcasts, in no particular order, that discuss current events, strategic and policy issues, competition, digitalization advice, and more. Ahead of the Curve: A Banker’s Podcast 5. Bank Slate Convos 6. With Flying Colors 7.

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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

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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PopularBank

AUGUST 6, 2024

Unfortunately, cyber fraud continues to plague customers and even large businesses, rampantly growing in complexity and potency. However, using the following tips and strategies against cyber fraud can significantly reduce the chances of fraudsters succeeding. Cyber fraud protection strategies for the whole family.

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FICO

JULY 6, 2023

Beyond the pleasure of leading a FICO Falcon Fraud Manager User Forum and moderating a couple of panel breakout sessions, I I was also able to catch up with many of the fraud-focused attendees from around the world. Scams: A Top Fraud Concern Scams are becoming a leading fraud concern, all around the world.

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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

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

JULY 25, 2017

The impact of online fraud reaches far beyond the dollar count of sales lost. . In recent studies, as noted by EKN Research and Radial, developed nations are seeing an increase in card not present (CNP) fraud, which now accounts for as much as 70 percent of all card fraud and is growing at double-digit percentage rates in some nations. .

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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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