PYMNTS

DECEMBER 21, 2018

Before the liability shift in 2015, the industry-wide prediction was that the onset of EMV would reduce occurrences of counterfeit card fraud in-store, but that the industry should expect to see a spike in card-not-present (CNP) fraud as fraudsters moved to easier targets. Take the transition to EMV in the U.S.,

Fraud 187

Fraud Tools Cards Security 187

PYMNTS

OCTOBER 27, 2016

Last year, merchants and banks felt fraud losses reach $21.84 billion on all credit, debit and prepaid general-purpose and private-label payment cards issued globally. The number doesn’t come at too much of a surprise considering fraud itself grew by 20.6 percent in 2015, outpacing the growing global card volume.

Fraud 100

Fraud Data Cards Report 100

PYMNTS

JULY 27, 2016

Credit card fraud complaints in the U.S. saw the biggest increase in 10 years in 2015, with the number rising by 41 percent. ValuePenguin analyzed data collected by the Consumer Financial Protection Bureau and found that there were approximately 70,000 credit card fraud complaints submitted in 2015.

Fraud 100

Fraud Cards South Dakota West Virginia 100

PYMNTS

FEBRUARY 2, 2017

Combating cyberfraud is a “balancing act,” says Sift Science, a fraud detection software company. And the number of things corporations have to juggle to safeguard their data — from the numerous types of fraud to the copious technologies that combat it all — mean cybersecurity is no easy task. Beyond Fraud.

Fraud 100

Fraud Security Payments Survey 100

PYMNTS

DECEMBER 3, 2018

According to a report in the Wall Street Journal citing cyber security specialists, the breach in which the personal information of as many as 500 million customers was exposed began in 2014, going undetected until September of 2018. A spokeswoman for Marriott said everyone involved would have preferred the incident was identified earlier.

Cyber Security 122

Cyber Security Security Cards Resources 122

PYMNTS

SEPTEMBER 24, 2018

Perhaps more troubling, however, is digital fraud’s projected future. Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions.

Fraud 195

Fraud Security Analytics Data 195

PYMNTS

OCTOBER 17, 2018

A new report from the Federal Trade Commission (FTC) says that fraudsters are increasingly requesting to be paid with gift cards, with some even asking for certain brands such as Google Play and iTunes gift cards. Google Play cards were not reported in significant numbers until this year.

Cards 174

Cards Payments Fraud Google 174

PYMNTS

MAY 22, 2020

Studies have shown that more than half of all banks recover less than 25 percent of related losses, and FIs have reported a 59 percent growth in fraud value and a 61 percent increase in fraud volume since 2015. The ongoing pandemic has exacerbated all fraud types from all sources, Gould added. Multistage Fraud Defense.

Fraud 185

Fraud System Security Training 185

Bank Innovation

OCTOBER 19, 2018

Noncash payments fraud in the U.S. outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 billion, in 2015. billion in 2012 to $8.3

Study 150

Study Fraud Payments Survey 150

PYMNTS

MARCH 12, 2020

And according to Jennifer Schroeder, executive vice president of product management at PULSE, prepaid and payroll cards are proving increasingly popular among forward-thinking employers. The Security Angle. As has been reported, the platform can help issuers manage, or restrict, transactions across groups of compromised cards.

Cards 154

Cards Fraud United States Payments 154

PYMNTS

MARCH 18, 2016

Embedded digital security company Oberthur Technologies released on Thursday (March 17) the results of a survey showing that 80 percent of respondents would be more likely to use a MOTION CODE-enabled card over one that has a static and printed CVV code when shopping online.

Cards 100

Cards Security Fraud Online 100

Abrigo

FEBRUARY 9, 2024

billion laundered between 2015 and 2020 through the U.S. real estate between 2015 and 2020, and the actual number is almost certainly higher. residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. real estate market alone. billion through U.S.

Training 195

Training Fraud Trends Report 195

PYMNTS

FEBRUARY 2, 2017

The number of identity fraud victims rose 16 percent in 2016, marking the highest level since Javelin Strategy & Research began tracking the trend in 2003. To successfully fight fraudsters, the industry needs to close security gaps and continue to improve, and consumers must be proactive, too.”.

Fraud 100

Fraud Strategy Cards Security 100

PYMNTS

OCTOBER 31, 2016

Nine arrests have been made, with one person charged in relation to remote purchase card fraud. The Dedicated Card and Payment Crime Unit (DCPCU) and Police Scotland announced that the two U.K. 2015 and is 90 percent funded by the European Commission. Project Skynet launched in Jan.

Fraud 100

Fraud Cards Retail Examples 100

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 trillion in 2018, and fraudulent mobile app transactions increased 680 percent between 2015 and 2018.

Fraud 110

Fraud Security Retail Tools 110

PYMNTS

APRIL 12, 2018

The transition to the EMV chip in North America has been both a boon and a bit of a headache when it comes to payments security. On the one hand, Worldpay ’s VP of Data Products Nicole Jass noted, EMV has done an awful lot to slam the door shut on card-present fraud. According to Visa, counterfeit fraud at U.S.

Fraud 126

Fraud Data System Security 126

PYMNTS

NOVEMBER 13, 2020

Securities and Exchange Commission ( SEC ) on Friday (Nov. Authorities allege that over a period of years, Wells Fargo allegedly opened new credit cards and other accounts without permission for existing customers with different accounts, so as to meet “cross-sales” targets. Stumpf agreed to settle the charges by paying a $2.5

Fraud 230

Fraud California Community Bank Security 230

PYMNTS

FEBRUARY 23, 2018

23) that counterfeit fraud, as measured in dollars, dropped 70 percent in December 2017 compared to September of 2015. million merchant locations now accept chip cards, covering 59 percent of the merchant population. By way of contrast, in September 2015, the number of merchants accepting those cards stood at roughly 392,000.

Fraud 116

Fraud United States Cards Payments 116

PYMNTS

JANUARY 26, 2017

Mastercard is teaming up with Oversight Systems to help government agencies detect payment fraud, according to a new announcement. The credit card conglomerate said Wednesday (Jan. 25) that it will collaborate with Oversight Systems to offer government agencies their collective data analytics and fraud detection solutions.

System 100

System Fraud Payments Analytics 100

PYMNTS

MARCH 30, 2016

consumers are handling the shift to EMV-compliant POS systems, the responses revealed that consumers have little incentive to choose safe and secure payment options. As more stores start enforcing the use of chip-enabled cards, he said, the spike in online fraud has been remarkable. “T has been a big rise in online fraud.”

Security 100

Security Fraud Cards Online 100

PYMNTS

MARCH 1, 2019

When credit cards first debuted in 1920s America,they brought with them myriad benefits. For instance, prior to a law passed by Congress in the mid-1970s, companies could mail consumers activated credit cards without their consent. Fraud opportunities. Security strategies. Risk reduction. Before the U.K.

Security 134

Security Payments Fraud Cards 134

PYMNTS

SEPTEMBER 4, 2018

What does the future hold for the plastic payment card? Or will cards with cutting-edge technology win more loyalty from shoppers? Such questions are addressed in a new PYMNTS story that features an interview with Sebastien Clamagirand, general manager of secure payment and identity at NXP Semiconductors.

Cards 110

Cards Payments United States Maine 110

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. Bringing a global fraud approach to a new local market.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

MAY 4, 2016

According to researchers, small businesses lost an average of more than $12,000 in 2015 due to back-office fraud. That can mean fraudulent payments made using a business credit card, a compromise of payroll systems or unauthorized ACH and wire transfers. Collectively, analysts said the financial impact amounted to $3.1

Security 100

Security Fraud Tools Analytics 100

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. .

Fraud 120

Fraud Retail Cards National 120

PYMNTS

MARCH 30, 2017

The good news about EMV is that it has drastically dropped the instance for cloned-card fraud that was far more endemic in the mag stripe era. The not as good news is that fraudsters were not discouraged — they simply switched their focus to card-not-present fraud online, according to Experian.

Fraud 100

Fraud Resources Cards Data 100

PYMNTS

APRIL 12, 2018

Bank is mobilizing Mastercard commercial card products, the financial institution (FI) announced on Wednesday (April 11). Bank Corporate Travel Card said it will now support mobile payments for corporate customers using business travel cards that run on the Mastercard network. In a press release , U.S. According to U.S.

Mobile 116

Mobile Cards US Apple 116

PYMNTS

MAY 4, 2016

Bluefin Payment Systems, which offers point-to-point encryption (P2PE) solutions to several industries, including retail and health care, said on Tuesday (May 3) that it will also add the Visa Data Secure Platform (DSP) to its portfolio, through its Decryption-as-a-Service P2PE Solution.

Security 100

Security Data Fraud Meeting 100

PYMNTS

FEBRUARY 3, 2017

Consumers might have felt a bit safer using their credit card with the introduction of EMV chip technology, but thieves looking to steal your information have managed to find a way to still gain access to PIN numbers, as well as your card’s chip in some cases. The majority of that theft was from credit cards. in 2016. “The

Cards 100

Cards Fraud ATM Maine 100

NCR

AUGUST 7, 2017

As contactless card transactions become increasingly common in markets such as the UK and on public transit globally, it seems inevitable that there will be growing concerns around the potential for fraudsters to exploit this form of payment. million lost to contactless fraud in 2015. percent of total card fraud in the UK.

Fraud 85

Fraud Cards Security Comparison 85

PYMNTS

JANUARY 9, 2020

The shift from magnetic stripe to EMV chip cards marked one of the 21 st century’s most widespread payment developments. Chip cards have been heralded for their improved functionality and security, but they have still failed to address critical authentication problems, leaving retailers to bear the brunt of these vulnerabilities.

Fraud 131

Fraud Cards Retail Security 131

PYMNTS

MARCH 29, 2016

According to Rurik Bradbury, VP, Identity Solutions at TransUnion, as more stores start accepting chip-enabled cards, the spike in online fraud has been remarkable – as in remarkably bad. . As our lives become more digital by the day, our digital footprints grow, as does the possibility for compromised identities and security hacks.

Fraud 100

Fraud Online Cards Security 100

PYMNTS

FEBRUARY 25, 2020

Chang’s rolled out its mobile ordering app in August 2018, but its rewards program has been in place since July 2015. This work is meaningless, though, if fraudsters can run amok in user accounts, and restaurants are not immune to emerging, innovative fraud. The Secret Sauce Of Security. Cooking Up A Fresh App .

Security 140

Security Mobile Chicago Trends 140

FICO

NOVEMBER 20, 2019

That is how UBS Card Center, which processes some 25% of card transactions in Switzerland, keeps fraud rates down and cardholders happy. And for the past 20 years, UBS have been using the FICO® Falcon® Platform and working in partnership with fraud experts from FICO. This has led to continual improvements in results.

Video 40

Video Fraud Cards Analytics 40

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 percent of revenue, and the numbers for e-tailers — who never handle a physical payment card — are much higher.

Fraud 161

Fraud Survey Retail Resources 161

PYMNTS

JULY 17, 2018

Since the migration to EMV in the largest card market in the world (the U.S. in October of 2015), the incidences of counterfeit card fraud at chip-enabled merchants have fallen sharply — some 76 percent, as reported by card networks. Sometimes the cards are ancillary to a different criminal purpose.

Cards 109

Cards Fraud Regional Training 109

PYMNTS

OCTOBER 15, 2019

Data from more than 26 million credit and debit cards was stolen from BriansClub, an underground marketplace for stolen credit card information, KrebsOnSecurity reported Tuesday (Oct. According to the leaked data, card information for sale on BriansClub showed a steady increase of inventory. In 2015, the website added 1.7

Cards 122

Cards New York City New York Data 122