Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3 billion in fraud losses in 2022. billion in 2021.

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

JULY 22, 2019

Apps with a possible security flaw, a malware phishing scheme and possibly, payments fraud, all done in the blink of an eye? Security firm Symantec said this past week that it found a security flaw in Android apps for WhatsApp and Telegram, which can allow hackers to manipulate data that flows between users.

Fraud 180

Fraud Payments Security System 180

Abrigo

MARCH 3, 2023

Ten red flags to help you identify check fraud A financial institution's guide to identifying mail-related check fraud. You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." Losses from check fraud total $18 billion annually, representing more than a million checks daily.

Fraud 195

Fraud United States Trends Software 195

PYMNTS

MAY 8, 2020

Three months ago, he noted, any talk about streaming probably meant music or movies; today it could also be referring to piano lessons, class instruction, meetings with co-workers, virtual cocktail hours with friends or a daily workout session.

Security 244

Security Data Fraud Training 244

PYMNTS

MAY 12, 2020

An internal investigation into alleged fraud at Luckin Coffee Inc. In addition, the company has placed six other employees on suspension or leave due to involvement in or knowledge of the fraud. Luckin , often referred to as the Starbucks of China, was the nation’s fastest-growing coffee company.

Fraud 185

Fraud Chicago Washington Regional 185

Abrigo

FEBRUARY 28, 2023

You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." REGISTER now Takeaway 1 Phishing is not a new fraud trend, but the rise of smartphones means text messaging fraud is becoming more common. billion to fraud in 2021, a 70% increase over the prior year.

Fraud 195

Fraud How To Training Trends 195

Perficient

FEBRUARY 22, 2023

AI is increasingly being used to automate a variety of tasks in financial services institutions, including customer service, fraud detection, and loan applications. The next offering for adoption within automation is more human-like Advance AI, which is being referred to as Autonomous Enterprise.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

PYMNTS

JUNE 22, 2020

It’s the battle against fraud that can be lost right at the beginning. There’s increased urgency on the part of financial institutions (FIs) to spend more time and money on battling fraud at the point of onboarding, especially as card-not-present transactions surge in the lingering wake of the coronavirus. alone topped $10.2

Fraud 193

Fraud Cards Risk Management Customer Experience 193

Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Takeaway 2 A worsening economy increases pressure to commit fraud, provides opportunities to commit fraud, and can be used as an excuse by criminals to rationalize their actions.

Trends 195

Trends Fraud cryptocurrency Software 195

PYMNTS

AUGUST 26, 2019

The phenomenon of payments fraud is not a modern one — far from it. But as RL Prasad, SVP of payment system risk at Visa , told Karen Webster in a recent conversation, what is new today is the who and the how of fraud, particularly in a digital world. Seeing the Attack Before it Happens . Fighting The Infection .

Tools 207

Tools Fraud ATM Cards 207

PYMNTS

AUGUST 14, 2020

Selling an EMV 3DS (also referred to as 3DS 2.0) When PAAY , a software-as-a-service company that protects merchants from fraud and increases authorization rates first started offering EMV 3DS, it had to do a lot in educating potential clients in the face of many saying: “We don’t want to hear about this.”

Cards 293

Cards Fraud Retail Security 293

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. Early Warning Value. But that goes only so far.

Fraud 184

Fraud Cards Data Maine 184

PYMNTS

OCTOBER 15, 2020

Bloomberg said the only response from Robinhood initially was a statement that the company was referring the matter to its fraud investigation team, which would take "a few weeks" in order to get back to them. Some victims protested, saying that their accounts had been taken over, their positions liquidated and their proceeds stolen.

Report 276

Report social media Fraud Tools 276

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

NOVEMBER 26, 2019

As consumers embrace real-time transactions, financial institutions (FIs) must recalibrate their fraud-fighting strategies. The real-time movement of money,” he told PYMNTS, “has implications on your ability to manage losses — and you have to make sure you are keeping pace with new fraud trends.”. Real-time payments, real-time risk.

Fraud 152

Fraud Payments Strategy Online 152

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.

Fraud 156

Fraud Security Data Retail 156

PYMNTS

SEPTEMBER 23, 2019

Two Apple iOS 13 users took to Reddit to share some payment security issues they faced when using the tech giant’s newest iteration of its operating system, according to reports. They have a case number for this incident and I wanted to talk to that person about their steps and also reference the case number they posted in the comments.

Apple 193

Apple Security Report Payments 193

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.

Fraud 169

Fraud Data Maine System 169

PYMNTS

JANUARY 20, 2020

Now four months in, he told Webster that the idea of a secure and trusted payments ecosystem is part of Visa’s “corporate DNA.” Regardless of the product or initiative, every conversation starts and ends with a single overriding question: “Is it secure?”. It has motivated a different approach for fighting fraud in the 2020s and beyond.

Security 168

Security Fraud Risk Management Payments 168

PYMNTS

AUGUST 19, 2019

Rewards and loyalty programs also make attractive targets for fraud. Here are some examples of restaurants and retailers that have bounced back from mobile data breaches and what they are doing to ensure security. Security Solutions. Other restaurants are turning to biometrics to increase security. Chipotle .

Mobile 159

Mobile Fraud Security Data 159

PYMNTS

SEPTEMBER 18, 2018

A cyberattack on what’s been described as a “decentralized” token exchange reportedly has led to a $58,000 theft and an illustration of a “shocking security vulnerability.”. According to a report in The Next Web , hackers flooded the exchange with “one billion fake EOS.”

Security 186

Security cryptocurrency blockchain Bitcoin 186

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. Takeaway 2 Counterfeit checks often look like the real deal, but they usually miss security features. this year, making up 60% of all attempted fraud. Staying on top of fraud is a full-time job.

How To 195

How To Fraud Training Software 195

PYMNTS

JUNE 4, 2020

Ensuring such payments are secure from bad actors is a priority for the banks that process them. From an instant payment perspective, it has now become much more important to be able to manage the fraud in real time online,” said Tino Kam , head of transaction banking at Finland-based Nordea Bank , in a recent interview with PYMNTS.

Security 151

Security Fraud Payments Compliance 151

PYMNTS

SEPTEMBER 16, 2020

Ni Shiyuan, a police officer in the Public Security Bureau, told the news service the government should urge these platforms, especially new social eCommerce platforms, to strengthen internal controls. The company said it has referred more than 1,000 suspected incidents to police since last year, and more than 200 suspects have been arrested.

Online 312

Online Report Security Regulation 312

PYMNTS

NOVEMBER 8, 2016

Given the staggering volume that comes through in the banking industry, it would follow that securing those accounts would be imperative, especially in the wake of the seemingly innumerable data breaches worldwide. The process that had been previously in place resulted in a decline of six out of 10 users.

Security 186

Security Mobile Course Data 186

PYMNTS

NOVEMBER 21, 2019

And, according to the news outlet, he had some aid, as officials have said that Hope Olusegun Aroke used a “network of accomplices” for the most recent fraud forays. He had been arrested in 2012, and, according to reports, has been imprisoned as part of a 24-year sentence at the Kirikiri Maximum Security Prison in Lagos. .

Fraud 217

Fraud Security Resources Online 217

PYMNTS

FEBRUARY 20, 2020

Consumers have somewhat of a fickle relationship with security when it comes to transactions. Most report that they want security, and they are sincere in their reporting. This isn’t so much of a security gap as a convenience gap. The Three Main Challenges .

Mobile 201

Mobile Fraud Security Customer Experience 201

Abrigo

SEPTEMBER 23, 2024

Takeaway 3 Taking responsibility for the security of your own data includes report monitoring, exercising caution with links, and using strong passwords. Nearly 170 million individuals were impacted, and compromised data included Social Security numbers, names, email addresses, phone numbers, and mailing addresses.

National 195

National Data Fraud Security 195

PYMNTS

APRIL 9, 2020

As part of the scam, the crooks may make reference to the Tokyo Olympics Torch Relay. securities laws. As reported by Cointelegraph.com , scammers use official-sounding names, such as the phony “World Olympic Sports Foundation,” to pitch fake investments in special products and “commercial developments” pertaining to the Olympics.

blockchain 166

blockchain Groups Fraud cryptocurrency 166

Perficient

APRIL 2, 2021

fraud detection and financial crime monitoring). email, text, audio data), with the aim of identifying fraud or anomalous transactions. AI can assist internal audit and independent risk management to increase sample size (such as for testing), evaluate risk, and refer higher-risk issues to human analysts. Textual analysis.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

OCTOBER 26, 2018

One of the complaints, which has been referred to law enforcement officials for further investigation, was made by a woman who said her personal ID and bank account number were stolen and used to initiate a real-time payment using FPS’ Autopay service. Reports in ejinsight on Thursday (Oct.

System 128

System Fraud Payments Security 128

PYMNTS

JANUARY 28, 2020

Coupon fraud is particularly dangerous for the restaurant industry, where margins are razor-thin and any profit decline could spell disaster. What Is Coupon Fraud? Fraudsters exact coupon fraud in various ways. Coupon fraud costs U.S. There is a distinct difference between extreme couponing and coupon fraud, though.

Fraud 141

Fraud Study Mobile Industry 141

PYMNTS

JANUARY 22, 2021

As with any payment method, fraud attacks and human errors can upend customer experiences unless companies have strong security strategies in place. Alvarez explained in a recent PYMNTS interview how effectively securing real-time transactions requires thorough contingency planning and advanced customer verification methods.

Security 141

Security Fraud Tools Customer Experience 141

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.

Fraud 122

Fraud Operations Security Software 122

PYMNTS

JANUARY 6, 2017

And in an age where cybercriminals seem to be ubiquitously lurking at all times, security becomes every merchant’s, issuer’s, card network’s and consumer’s problem. At this point, there are almost no serious players in the game willing to shrug off the importance of security for their system.

Security 156

Security Data Software System 156

PYMNTS

SEPTEMBER 18, 2020

We have deep dives on digital onboarding at universities, subscriptions and quick-service restaurant (QSR) friendly fraud. Helping QSRs Fight Food Fraud. Eateries have been combating chargeback fraud, which is also referred to as friendly fraud , for years. and China that is focused on national security.

Fraud 141

Fraud Apple California Innovation 141

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.

Fraud 132

Fraud Payments Online Mobile 132