PYMNTS

JULY 1, 2019

Overall digital fraud increased by 13 percent in the past year, with the food and beverage industry seeing an increase of 60 percent – nearly four times above average. Mobile order-ahead fraud is so widespread and difficult to stop because it is conducted remotely. Chipotle denied any breach of its databases or systems.

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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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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

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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Abrigo

JANUARY 4, 2023

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud. But with increased popularity comes more opportunity for fraud. DOWNLOAD WHITEPAPER.

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Abrigo

OCTOBER 3, 2014

Thomas focused on three key issues directly affecting the present and future of the accounting industry – increased regulations, a shifting workforce, and changing continuing education – as well as some thoughts on the opportunities these challenges offer. Image source: Rubiks.com. Blog Accountant'

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PYMNTS

OCTOBER 29, 2018

But memory implants will also present a variety of opportunities for cybercriminals. And as is the case with other forms of hacking , data theft and fraud, danger can always come from the inside, or what the Kaspersky report called “insecure behavior by medical staff” who could access private patient data for criminal purposes.

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Abrigo

FEBRUARY 8, 2024

WATCH Takeaway 1 Romance scams are one of the most common forms of fraud schemes seen in the U.S. Report any scam or attempted fraud to the FBI and your financial institution. According to the FBI , victims of this type of investment fraud reported losses of $3.3 with reported losses of a staggering $1.3 billion in 2021.

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PYMNTS

NOVEMBER 25, 2020

Crafting AI models that make sure people are who they say they are and prevent fraud, while eliminating identity bias and other pitfalls, comes with its own set of challenges, he said. Traditionally, that begins with an individual presenting a government-issued ID to confirm identity.

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PYMNTS

JULY 14, 2019

And the operator of BitFunder, a defunct trading platform that was denominated in bitcoin, and WeExchange was sentenced for obstruction of justice as well as securities fraud, CoinDesk reported. The slide deck was reportedly leaked through social media by an accountant. at the World Bank.

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PYMNTS

NOVEMBER 27, 2019

Cybercriminals are thus increasingly turning to online platforms to perpetuate card-not-present (CNP) fraud. The new Digital Fraud Tracker highlights the emerging fraud trends as well as the latest solutions and strategies that companies are embracing in an effort to protect themselves and their customers.

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PYMNTS

SEPTEMBER 6, 2016

The rise in social media fraud was noted in new research from cybersecurity firm Proofpoint. In the report, a new form of social media-based phishing attack, referred to as “angler phishing,” is discussed, and recent example of attempts from two fraudulent PayPal Twitter accounts are shown.

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PYMNTS

OCTOBER 11, 2018

In a post on its Toutiao social media account, Reuters reported it said users who linked their accounts via Apple IDs should lower their transaction limits. Jing made the comments at Alibaba’s 2018 Investor Day, where he gave a presentation on the company’s various technology capabilities.

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PYMNTS

AUGUST 23, 2019

The Playbook also examines the increasing threat of fraud as more marketplaces deal with data breaches and their aftermath. Fraud remains an ever-present challenge, however, and marketplaces worldwide are deploying new defenses. Around the Payments And The Platform E conomy.

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PYMNTS

SEPTEMBER 8, 2020

The result is a slew of unstructured data coming in from a variety of sources; financial service providers must try to make sense of it in order to maintain regulatory compliance and mitigate the risk of fraud. Middesk aims to help these firms streamline and digitize this process. On Tuesday (Sept. On Tuesday (Sept.

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PYMNTS

JANUARY 25, 2021

Yitz Mendlowitz, founder and CEO of PAAY , shares his insights on how the pandemic has impacted small businesses, and what they should do in the year ahead to prevent fraud and survive in the new digital economy. With an effective fraud prevention solution, businesses can successfully adapt. retailers incur $3.13

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PYMNTS

OCTOBER 30, 2020

Those efforts have reduced the threat of fraud at physical payment terminals, but many consumers are now shifting to shopping digitally. Fraudsters often plant advertisements on social media platforms that link to fake retail sites, enabling them to prey on distracted consumers or those whose vigilance slips.

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Independent Banker

OCTOBER 1, 2022

Financial fraud and cyber attacks aren’t a one-age-fits-all scenario. Community banks can find ways to mitigate age-related fraud through technology, as well as by educating their customers of their particular risks. Reports about fraud losses: Millennials vs. people 40+. How to minimize age-related fraud.

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PYMNTS

JUNE 24, 2019

“We have to understand what they really want — consumer protection, avoiding fraud, avoiding terrorism financing, avoiding money launderers. There is also a related, but separate, issue around the project associated with Facebook, as the social media giant has found itself in regulatory crosshairs over consumer data protection and privacy.

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PYMNTS

APRIL 22, 2020

New account fraud is a significant problem for FIs, with 48 percent of values generated from fraud attempts coming from accounts that have only been open for one day, according to a recent report. Banks must enable fast and seamless onboarding experiences, but these processes should also be secure.

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PYMNTS

JULY 3, 2017

The Rise of CNP Fraud. billion USD) every year as a result of card-not-present (CNP) online fraudulent ticket purchases. Forty-three countries, 75 airlines and eight online travel agencies were involved in the fraud. This presents travel agents with ample new opportunities, but it also introduces significant new challenges.

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PYMNTS

AUGUST 22, 2016

According to the report, during the Usenix security conference earlier this month, security and computer vision specialists at the University of North Carolina presented a system that used 3D digital facial models based on publicly available photos, coupled with mobile virtual reality technology, to infiltrate facial recognition systems.

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Payments Source

APRIL 26, 2016

The growth of in-app and social media payments may please consumers, but merchants are worried that these new forms of card-not-present payments will expose them to more fraud liability.

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PYMNTS

SEPTEMBER 11, 2017

That’s not the only strategy the social media giant plans to deploy, though. Cash money: the birthday present that always fits. Now Facebook is enabling users to send their friends birthday money along with those 45 million birthday wishes sent across the social network each day. Birthday Money.

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PYMNTS

MAY 18, 2016

approaching a couple thousand dollars, and each incident of eCommerce fraud costing merchants several hundred dollars, now is the time to wonder if the traditional methods of consumer authentication are pulling the weight that they once did. Digital Discussion Presenter: Ken Allen. About The Li ve Dis cussion: .

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PYMNTS

SEPTEMBER 30, 2020

Cybersecurity and data privacy have always been critical facets of open banking regulations as fraud tends to increase alongside growing online transaction volumes. Consumers’ changing views are prompting MENA financial authorities to reexamine how their present regulations handle online privacy. The Data Privacy Twist .

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PYMNTS

JUNE 13, 2019

Experiencing such gains comes with risks, however, as digital IDs have presented new and underexplored avenues for fraud. billion digital records in the United States were compromised during the first half of 2018 – 291 records every second – with only six social media breaches accounting for more than half of all at-risk data.

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PYMNTS

FEBRUARY 21, 2020

With the webs of B2B partners , including social media influencers, corporate affiliates, ambassadors, sponsors and beyond ever growing, the volumes of invoices and payments flowing through accounts payable (AP) surge. Cyber risks, for example, continue to present a threat to corporates working with unfamiliar partners.

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PYMNTS

SEPTEMBER 7, 2018

At the same time, criminals keep up with those developments, becoming more sophisticated and quickly learning to exploit weaknesses in new fraud prevention products and processes. In fact, a poll taken of webinar participants during the presentation found that only a third said passwords do, indeed, have a future. Machine Help.

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PYMNTS

OCTOBER 1, 2020

“This digital shift is leading consumers to examine just how private their online activities are, with one recent survey finding that 84 percent of UAE consumers have tried to remove private information from websites or social media. percent year over year during the week of Aug. 3D Secure 2.0

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Insights on Business

FEBRUARY 13, 2019

Cyber fraud – including executive digital impersonation. ” Meshell wrapped up the presentation saying, “Every six weeks there is an IBM cybersecurity response exercise for senior executives to drive awareness. Also follow the social media platforms to stay informed with the latest updates : . Phishing attacks.

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PYMNTS

MARCH 6, 2020

They also need to ensure that only authorized entities can access their APIs, as the technologies can provide data that fuels fraud. Social media networks’ APIs could collect users’ contact information for scammers’ targeted phishing campaigns, for example.

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CFPB Monitor

JULY 19, 2022

On July 13, 2022, the House Committee on Oversight and Reform, Subcommittee on National Security held a hearing entitled “Protecting Military Servicemembers and Veterans from Financial Scams and Fraud.” Malini Mithal testified that the FTC received over 200,000 reports of military fraud in 2021, totaling over $267 million in losses.

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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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Insights on Business

SEPTEMBER 12, 2018

For consumers, real-time payments present nothing but upside; fewer late fees when you realize the utility bill is due today, and less time waiting for money when you split the dinner bill with your friend who always seems to forget his wallet. A 10-year journey that’s far from over.

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PYMNTS

MARCH 31, 2020

The necessity of such regulations is undeniable, however, as lagging data standards leave businesses and consumers open to fraud and boost frustration regarding the speed of digital transactions. These firms are expected to comply with all new rules that present themselves, both in their home countries and abroad — a costly endeavor.

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PYMNTS

APRIL 19, 2019

As noted in this space this past week, SCA has goals that are laudable by any measure, as the SCA requirement seeks to reduce fraud and make online card-not-present (CNP) transactions more secure. That’s important in a world where commerce is increasingly moving online. The free service could be offered through the Echo speakers.

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