PYMNTS

AUGUST 4, 2020

Consider the roughly 200 Rhode Islanders who recently received tax refund checks signed by Mickey Mouse and Walt Disney. The majority of the misprinted checks were sent to businesses receiving corporate tax refunds. So, the fraud goes up, not down.”. When it determined the check to be a fake, the police were called.

Rhode Island 244

Rhode Island Fraud Taxes Florida 244

PYMNTS

AUGUST 17, 2020

When it comes to fraud threats, no company — large or small — is immune. PYMNTS breaks down the numbers of the latest in B2B fraud below. 9 in 10 of ASX 100 companies were found to have lapsed security strategies that allow for email spoofing and invoice scams , a new report from Agari said.

Fraud 237

Fraud Trends Report Security 237

Abrigo

JANUARY 14, 2021

How Institutions Can Avoid Fraud Surprises in the Next Round of the PPP BSA and fraud professionals saw a spike in PPP fraud during the first two rounds of funding. How can they be better prepared to prevent fraud in this next round? Stopping PPP Fraud in New Round of Funding. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

Abrigo

SEPTEMBER 20, 2023

How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Takeaway 3 Prevention and detection best practices can curb hard dollar 1st-party fraud losses while protecting clients.

Fraud 195

Fraud Cards Trends Software 195

PYMNTS

APRIL 10, 2020

TurboTax , the online tax preparation service, has said it is launching a free stimulus registration system to help people who don’t need to file a tax return. Approximately 10 million people in the country don’t have to file taxes, and roughly 80 percent can receive a stimulus check. . Trackers and Reports.

Taxes 216

Taxes Tools Payments Los Angeles 216

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

JANUARY 29, 2020

businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. Such tools can automatically categorize necessary information from receipts and reports, significantly cutting down on the $26.63

Taxes 141

Taxes Fraud Tools System 141

PYMNTS

FEBRUARY 27, 2019

European Union lawmakers released a report on Wednesday (Feb. 27) recommending that the EU create a police unit dedicated to the investigation of tax and financial crimes, as well as a watchdog organization to fight money-laundering, according to a report by Reuters.

Report 152

Report Taxes Maine Regional 152

PYMNTS

NOVEMBER 23, 2018

To counter fraud as the holiday season approaches, Best Buy , Target and Walmart made changes to their gift card programs. The moves were announced by the attorneys general of Pennsylvania and New York, Reuters reported. They also come amid an initiative to take on fraudsters that has run for a year. “By

Fraud 156

Fraud Cards Retail New York 156

PYMNTS

NOVEMBER 14, 2018

As the saying goes, nothing in life is certain but death and taxes. To be certain of taxes, will blockchain seal the deal? Last week, Thailand’s Revenue Department was reported to be bringing blockchain projects into the fold to track tax payments, aided by machine learning. Bread By Blockchain.

Taxes 141

Taxes blockchain Data Report 141

PYMNTS

SEPTEMBER 12, 2019

A report found that the U.S. FIs and FinTechs increasingly encounter new forms of fraud as they expand their digital operations, making it all the more important that they have strong risk assessment and compliance systems in place. A team of analysts can only handle so many potential fraud cases at a time, after all. .

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

NOVEMBER 8, 2018

billion euros for what it contends is helping wealthy people in the country evade taxes. According to a report in Reuters , UBS is facing accusations of laundering the proceeds of tax fraud and illegally going after clients in France. UBS, the Swiss bank, is facing calls from French prosecutors to pay a fine of 3.7

Taxes 128

Taxes Fraud New York Community 128

PYMNTS

AUGUST 11, 2020

As in the first distribution of $1,200 checks in the spring, most people will get money direct deposited, or via a debit card or check will be mailed to the address where your taxes were filed. A survey released last week by SocialCatfish.com, the identity verification nonprofit, reported U.S.

Fraud 174

Fraud Taxes Survey Cards 174

PYMNTS

SEPTEMBER 24, 2020

PYMNTS’ recent Leveraging The Digital Banking Shift Report found that 46 percent of bank customers have used digital banking services more often than before the pandemic began, with 74 percent of recent online users planning to stick with these services once the pandemic has ended. Fraud Threats To Digital Banking. Shetty explained.

Video 205

Video Fraud Digital Banking System 205

Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

Abrigo

AUGUST 19, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

Fraud 195

Fraud System Trends Software 195

PYMNTS

AUGUST 12, 2020

Venezuela may be going forward with a plan to allow the use of the Petro (PTR) cryptocurrency to pay taxes, according to Cointelegraph. Because of the new campaign, Petro’s usage has seen a surge in recent days, according to the report. Vice President Delcy Rodriguez said the new rules would simplify payments.

Taxes 160

Taxes Bitcoin cryptocurrency New York 160

PYMNTS

JANUARY 18, 2021

government's inability to curb the risk of fraud that emerged during the first round of PPP funding. Reports in The Wall Street Journal said the latest pandemic relief package allocates $284 billion in PPP loans for small businesses. The individual pleaded guilty to wire fraud and money laundering conspiracy.

Community 219

Community Fraud Taxes Massachusetts 219

PYMNTS

JULY 15, 2020

After weeks of relentless headlines on the collapse of Wirecard , the High Court of Justice in London handed the German payments company a victory on Wednesday (July 15), the Financial Times (FT) reported. Judges dismissed a civil suit that alleged Wirecard of fraud weeks after the company filed for insolvency in a Munich court.

Fraud 160

Fraud Taxes Groups Compliance 160

PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

Fraud 255

Fraud Online Retail Examples 255

PYMNTS

NOVEMBER 26, 2019

Businesses depend on the public services tax revenues pay for: roads that facilitate deliveries, courts where firms resolve legal disputes and regulators that help protect businesses from fraud. Even businesses eager to pay their share, however, may feel that complying with tax laws is complicated. .

Taxes 141

Taxes South Dakota District of Columbia Compliance 141

PYMNTS

NOVEMBER 16, 2020

Fraud targeting digital banking users has been around as long as digital banking itself, but it has recently become more prevalent. The pandemic is exacerbating the problem, with a study finding that 22 percent of Americans were the targets of pandemic-related fraud attempts as of March. APP fraud is not a new occurrence.

Fraud 182

Fraud Security Strategy Digital Banking 182

PYMNTS

MARCH 2, 2018

For their alleged roles in a massive stock fraud and money laundering scam involving a Picasso, the U.S. In addition, prosecutors said eight defendants, including offshore bank Loyal Bank Ltd, planned to launder proceeds from the fraud. million British pounds, which an undercover agent had said were proceeds from the fraud.

Fraud 161

Fraud Taxes Security Management 161

PYMNTS

FEBRUARY 21, 2020

New York Attorney General Letitia James announced plans to sue New York City for allegedly fraudulent practices by its Taxi and Limousine Commission (TLC), according to reports on Thursday (Feb. She’s alleging the city profited by that same amount selling medallions and by collecting a 5% tax on third-party transfers.

Fraud 223

Fraud New York City New York Taxes 223

PYMNTS

JANUARY 24, 2021

Business software maker Cygnet Infotech has updated its FACE ( Financial Accounting Comprehensive and Easy ) accounting software platform, according to a published report. The update to the FACE offering comes 19 months after the offering debuted, the report stated.

Taxes 178

Taxes Compliance Software Fraud 178

PYMNTS

FEBRUARY 14, 2020

A section of the IRS website telling people that the online currency from the popular game Fortnite was subject to federal taxes has been removed as of Wednesday (Feb.12). Experts say V-bucks, as well as other, similar game currencies, are a new field that will need to be reported in some way on one’s taxes.

Report 143

Report Taxes Video Bitcoin 143

PYMNTS

AUGUST 2, 2019

Data storage firm Seagate revealed that it has moved its anti-fraud blockchain project with IBM into the pilot stage. In other news, Brazil’s Tax Authority has announced that transactions involving cryptocurrencies must now be reported to the Department of Federal Revenue ( RFB ).

blockchain 148

blockchain Fraud Data Report 148

PYMNTS

JULY 15, 2019

In Australia, a new report shows just how widespread internal fraud in the Commonwealth, aimed at government agencies, has become. This past week it was reported that, per an investigation by the Australian Institute of Criminology, such fraud amounted to $42 million over the past year. Grayson Jr., owner of Zealcon Corp.,

Fraud 109

Fraud Cards Taxes Payments 109

PYMNTS

MARCH 23, 2020

“This is a moment that a lot of hackers across the world have been preparing for,” said Brian Finch, partner at Pillsbury law firm and co-leader of the company’s coronavirus response team, in are recent Compliance Week report. Below, PYMNTS looks at some of the latest data points around the fraud threat. The report surveyed U.K.

Philadelphia 178

Philadelphia Fraud Taxes Survey 178

Abrigo

DECEMBER 10, 2024

Education, collaboration, and advanced fraud detection software can help prevent it. The increasing threat of elder fraud On December 4, 2024, FinCEN, along with the supervisory agencies, issued a s tatement on e lder f inancial e xploitatio n, or elder fraud. Get details What is elder financial exploitation?

Fraud 195

Fraud Training Software social media 195

PYMNTS

JANUARY 15, 2021

It also said the bank’s Check Cashing Group admitted that it failed to file thousands of suspicious activity reports (SARs) as well as thousands of Currency Transaction Reports (CTRs) from 2008 to 2014. financial system.”.

Capital 268

Capital New Jersey Groups New York 268

PYMNTS

MAY 30, 2018

In one example of fraud, crossing 74 checks totaling more than $38,000, O’Donnell forged payments made to resemble “housing refunds” for students that were made out to “pay to the order of Kevin O’Donnell” and cashed. His time in that role ended in March of last year after the thefts came to light.

Fraud 122

Fraud West Virginia Payments Taxes 122

PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Fraud 131

Fraud Customer Experience Survey Compliance 131

PYMNTS

AUGUST 15, 2019

Bloomberg reported that in letters to the investors, the agency did acknowledge that the trading exchanges may have made the errors. Accountants have reported that their clients have been receiving letters in recent weeks. The first volume of letters I call ‘warning’ letters. Now it’s the IRS saying, we’ve got the records.”.

Taxes 116

Taxes cryptocurrency Analytics Report 116

PYMNTS

NOVEMBER 29, 2018

Federal authorities in Germany raided six offices of Deutsche Bank on Thursday morning (November 29), searching for evidence about money laundering and offshore tax havens, according to a report by The Wall Street Journal. The searches could very well continue into Friday, authorities said. There were about 11.5

Taxes 129

Taxes United States Report Company 129

Chris Skinner

JUNE 20, 2018

Things we’re reading today include … Lloyds under pressure as HBOS fraud report is published Number of global millionaires hits 18.1

Taxes 177

Taxes Fraud Report Payments 177

PYMNTS

NOVEMBER 24, 2020

The implosion of major payments player Wirecard AG amid a multibillion-dollar fraud scandal has spurred an overhaul of Germany’s top stock index. 24) that all prospective members will have to pass a basic profitability standard first, The Wall Street Journal reports.

Fraud 148

Fraud Exercises Taxes Report 148