Abrigo

JANUARY 31, 2025

DOWNLOAD WHITEPAPER Growing popularity What is driving the rise in crypto fraud? Takeaway 1 Crypto fraud is the newest and most favored field in potential financial gains for bad actors. As it becomes more integrated into our financial system and scams increase, crypto fraud prevention must be a priority. billion in 2020.

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Abrigo

MARCH 21, 2025

The Financial Crimes Enforcement Network (FinCEN) has honored Abrigo for supporting financial institutions and contributing to major criminal investigations through our anti-money laundering and fraud detection monitoring solutions. As transaction volumes increase and fraud schemes become more complex, manual monitoring alone isnt enough.

Fraud 221

Fraud Compliance System Tools 221

PYMNTS

OCTOBER 30, 2020

Mastercard has unveiled its artificial intelligence (AI)-fueled Cyber Secure tool suite, which lets banks evaluate cyber risk throughout their ecosystems and stop possible breaches from occurring, according to a Friday (Oct. 30) announcement emailed to PYMNTS. Mastercard said the world faces a $5.2

Cyber Security 297

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PYMNTS

MAY 18, 2020

Mastercard has announced a series of consumer protections aimed at protecting customers and merchants from fraud at fuel stations. The enhanced consumer protection program was designed to provide merchants and banks with tools to help them navigate the heightened risk of fraud, Mastercard said.

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Perficient

OCTOBER 28, 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. On popular real estate websites, many people even track their own home’s value generated from these AI-driven appraisal tools. Fraud screening.

Regulation 221

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PYMNTS

APRIL 13, 2020

For all that has changed dramatically in the last several weeks due to the coronavirus pandemic, consumers are still looking for the same two core offerings in every transaction, no matter what it is or where it takes place: seamlessness and security. Today, [fraud] becomes a much bigger challenge than before,” Sevounts said.

Security 323

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PYMNTS

APRIL 10, 2020

This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sector more than $200 billion annually by some estimates. Yet, these advanced computational systems have a long way to go in healthcare administration.

Fraud 362

Fraud Payments System United States 362

PYMNTS

DECEMBER 29, 2020

While fraud affects less than 1 percent of all card purchases, consumers who do lose funds from their bank accounts must go through lengthy and often stressful processes to get their money back. Getting security right also means balancing customers’ security and privacy concerns. Read the full story in the Tracker.

Fraud 303

Fraud Cards Analysis Tools 303

PYMNTS

AUGUST 3, 2020

When it comes to B2B payments fraud, it’s not a matter of if it happens, but when. Speaking with Karen Webster in a recent interview , OnPay Solutions President and CEO Neal Anderson explained that organizations have to prepare themselves to mitigate the fraud threat, even as employees work from home. ” $4.13 ” $4.13

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PYMNTS

NOVEMBER 19, 2020

To use the tool, customers electronically send payment instructions, which are routed to the WellsOne Virtual Card Payments service, the release stated. A key feature is the use of one-time, virtual card numbers to make the payments, one of the benefits of which is protection against fraud, Wells Fargo said in the release.

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PYMNTS

DECEMBER 16, 2020

Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector. And while promising news regarding COVID-19 vaccines may have put the end of the pandemic in sight, the restaurant industry’s growing fraud concerns will not cease as abruptly.

Fraud 310

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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 .

Tools 207

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PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Security challenges are mounting, too.

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Fraud Strategy Security Cards 273

PYMNTS

JANUARY 26, 2021

These struggles are leading many to examine cutting-edge tools that can help them better protect these transactions from fraud,” according to PYMNTS January 2021 Real-Time Payments Tracker® done in collaboration with The Clearing House. Protecting RTP is critical to its wide acceptance as another arrow in the payments quiver.

Fraud 274

Fraud Los Angeles Tools Security 274

Perficient

AUGUST 4, 2024

Microsoft’s Azure Integration Services , a suite of tools designed to seamlessly connect applications, data, and processes, is emerging as a game-changer for the financial services industry. Improved Security and Compliance With stringent regulatory requirements in the financial sector, security and compliance are paramount.

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Industry Compliance Examples Risk Management 467

Abrigo

FEBRUARY 6, 2025

Unfortunately, scammers take advantage of this time to exploit vulnerable individuals through confidence scams, one of the most prevalent and costly types of fraud in the U.S. billion of reported losses due to this type of fraud in 2023 and around 40,000 victims in the United States. Staying on top of fraud is a full-time job.

Fraud 221

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PYMNTS

NOVEMBER 13, 2020

Government-benefits fraud runs at about 10 percent even during normal times, but now that the pandemic has exponentially increased U.S. I think bad actors and fraudsters always follow the money,” Elizabeth Cronan , vice president of government relations at geolocation-based fraud prevention firm GeoGuard recently told PYMNTS. . “I

Fraud 308

Fraud Data Tools Policies 308

PYMNTS

JULY 9, 2020

The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs. Relying on static usernames and passwords to authenticate customers is no longer sufficient, and many FIs are therefore examining how tools like biometrics can offer greater security.

Fraud 261

Fraud Report Tools Security 261

PYMNTS

JUNE 23, 2020

Federal Reserve has introduced a new effort to combat payments fraud. The API supports setup, verification and initiation of direct debit, with the bank’s head of global liquidity and cash management Yvonne Yiu pointing to the cash management benefits such a tool could bring to businesses. In the U.S.,

Fraud 266

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PYMNTS

SEPTEMBER 22, 2020

The growth in digital transactions is also spurring a boost in friendly fraud, which occurs when legitimate customers either knowingly or unwittingly claim that they did not make legitimate purchases and seek reimbursement for them. It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

Fraud 255

Fraud Mobile Tools Study 255

Perficient

MARCH 17, 2025

AI-powered chatbots can handle routine inquiries, freeing human agents for complex issues, while AI-driven algorithms enhance fraud detection and risk management. Developing robust APIs will enable seamless integration of financial services into third-party platforms, ensuring security, reliability, and ease of use.

Trends 221

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PYMNTS

OCTOBER 8, 2020

The growing cost of online fraud – and finding ways to detect it – has long been a costly concern of financial institutions (FIs). If you beat the geolocation fraud, you beat all the fraud,” Briggs said. Looking at Geolocation Tools All Wrong. We’re really here to explain that you can do a lot more with what you have.”

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Bank Innovation

NOVEMBER 13, 2019

The identity verification process for financial institutions just got easier thanks to two new digital identity tools FICO rolled out this month. The credit bureau rolled out FICO Identity Proofing, which lets organizations verify customers’ identities through selfies with their government-issued IDs.

Tools 199

Tools Fraud Innovation Strategies Strategy 199

PYMNTS

JANUARY 25, 2021

This increased digital engagement can create challenges, however, as it opens up new avenues for fraud in addition to making transactions more convenient for customers. A Lloyds Bank study found that this type of fraud has increased fivefold over the past year, accounting for up to 1 percent of all loan applications.

Fraud 235

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PYMNTS

JUNE 29, 2020

Open banking is one of the most significant emerging trends in the financial industry, allowing banks and FinTechs to share financial data in a quick, easy and secure manner across a network of platforms. Security Risks Facing Open Banking. Securing Open Banking Systems.

Security 240

Security System Data Fraud 240

Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations.

Fraud 221

Fraud Payments Software Policies 221

PYMNTS

JANUARY 27, 2021

This increased digital presence also brings a greater risk of digital fraud, however. Some schemes that are impractical to wage in person are simpler to perpetrate online because of a decreased security presence, the anonymity of transactions and fraudsters’ abilities to stage hundreds of attacks simultaneously.

Security 213

Security Innovation Fraud Study 213

Abrigo

MARCH 8, 2024

Bank wire fraud is growing and becoming more complex. Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 2 Transnational criminal organizations commit b ank wire transfer fraud and use a variety of techniques to make Americans their victims. Investment scams were #1, with over $4.6

Fraud 195

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PYMNTS

NOVEMBER 27, 2020

Overtaxing the royal attention span — that of the consumer — is a mistake, so multifactor authentication (MFA) processes are morphing in various ways to reduce onboarding frictions while maintaining rigorous multifactor authentication (MFA) and other fraud-fighting tools. Phone Call For You. Taking Authentication To The Streets.

Security 269

Security Study Mobile Data 269

PYMNTS

MARCH 27, 2020

The financial industry is particularly vulnerable to digital fraud. Application fraud, which sees cybercriminals submitting financial product applications to banks with no intention of paying them back, is among the most popular techniques. Defining Application Fraud.

Fraud 208

Fraud Technology Knowledge Base Study 208

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up. Instances of APP fraud around the globe have continued to rise as real-time payment rails extend their reach.

Fraud 223

Fraud Payments Survey Security 223

PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

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Fraud Management Risk Management Company 274

Perficient

AUGUST 3, 2023

Generative AI ingests data and understands guidelines incredibly well; therefore, businesses across industries are jumping to take advantage of all the possible ways the tool can help save them money and create elevated, uber-personalized customer experiences.

Industry 83

Industry Risk Management Customer Experience Fraud 83

Abrigo

JANUARY 22, 2024

6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products. You might also like this infographic, "Beyond immediate fraud losses: How the costs and impacts of fraud snowball." download NOW Takeaway 1 Fraud losses totaled $485.6

Fraud 221

Fraud Risk Management Training Software 221

Abrigo

FEBRUARY 6, 2025

Meeting investment accounting and reporting requirements The right technology tools can help institutions manage investment accounting compliance and risk exposure across various investment types. However, compliance risks often present significant challenges for financial institutions managing complex investment portfolios.

Compliance 195

Compliance Technology Operations Risk Management 195

PYMNTS

APRIL 22, 2020

While being the victim of fraud is never good, there is something to be said for at least being able to identify where exactly one went wrong. The scary thing about the SIM swap fraud is it’s not like the victim has done one thing wrong,” Prideaux said. Breaking Into The Two-Factor Authentication Scheme. Taking A Deeper Look.

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Fraud Data Resources Technology 253

PYMNTS

OCTOBER 9, 2020

Online brokerage Robinhood , which offers a suite of tools aimed at making investing easy and comparatively cheap for the uninitiated, said on Friday (Oct. 9) that hackers may have gained information about customers' personal email accounts, Reuters reported.

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