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.

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PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud.

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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.

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PYMNTS

APRIL 7, 2017

Today, APIs have become a popular way for banks to share this financial data with other services and have given rise to more possibilities for FinTechs in how they meet their customers’ needs — and more debate about the security of such facilitated information-sharing.

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Data Technology Security Tools 191

PYMNTS

NOVEMBER 6, 2019

When it comes to fighting fraud, it’s not really what you know – not exactly, at least. It’s what you don’t know, and how you go about finding those gaps and putting up defenses via better data and new technology. Fraud is big business, with online losses topping some $14.7 New vs. Old Fraud. Big Business.

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PYMNTS

DECEMBER 11, 2017

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. He will lead the Fed’s initiative to address payments fraud risk and boost the security of payments in the U.S.

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PYMNTS

MAY 4, 2016

According to researchers, small businesses lost an average of more than $12,000 in 2015 due to back-office fraud. billion in losses last year, according to JAVELIN’s 2016 Small Business Fraud Report: Small Businesses are Big Targets for Fraudsters. Collectively, analysts said the financial impact amounted to $3.1

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Security Fraud Tools Analytics 100

PYMNTS

MAY 9, 2016

Though the industry knew it was coming, the sharp migration of fraud from in-store to online channels with the growing adoption of EMV is still enough to keep any online merchant up at night. The data show that since the October 2015 EMV liability shift, United States fraud attacks have jumped by 11 percent. contact-form-7].

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PYMNTS

MARCH 16, 2018

Through the collaborative efforts of those with backgrounds in payments and security, the Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles.” They also cover security methods — and identity management controls — along with relevant laws and regulations, among other topics.

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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. .

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PYMNTS

MAY 25, 2016

Radial , an omnichannel and fraud solutions provider, is promising to take away merchant woes with a suite of solutions, which it says improves order conversion rates and helps eliminate fraud. With the introduction of EMV chip technology in Oct. 2015, online fraud is forecast to explode from an estimated $3.1

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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.

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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.

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Cards Security Fraud Online 100

NCR

AUGUST 7, 2017

Past trends in the financial services industry have shown that criminals waste no time in finding weaknesses in new technologies to commit fraud. But does this really offer an accurate picture of the prevalence of contactless card fraud, and are banks doing enough to protect their customers from this threat? million in 2015.

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Fraud Cards Security Comparison 85

PYMNTS

JUNE 12, 2019

One of the biggest forms of education-related fraud is as simple as it is prevalent: students sending someone else to take tests for them. This type of fraud played a significant role in this year’s widely publicized college admission scandal. The university began utilizing a webcam-based system in 2015. Trust, But Verify.

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Online Fraud Analysis Study 145

PYMNTS

APRIL 26, 2017

While the fraud-fighting technology available six years ago didn’t stand a chance of protecting HiGear, the current car-sharing market , which is projected to be worth $16.5 billion by 2024, continues to experience similar fraud attacks. Additionally, today’s marketplace is increasingly technology-dependent.

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PYMNTS

APRIL 10, 2017

Experian, the credit rating company, is getting into the biometrics market, inking a deal with technology company BioCatch to use behavioral biometrics to fight fraud. ” Reuters noted that financial companies are looking to use more sophisticated technologies to fight online fraud.

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PYMNTS

APRIL 7, 2017

With President Trump’s claim of voter fraud on a massive scale in the 2016 presidential election, it may be time for the country to rethink its voting process. This isn’t the first time that there have been issues with voting in the United States — or wild claims of voter fraud.

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PYMNTS

NOVEMBER 10, 2017

For any organization with an attitude of, “It can’t happen to me,” here’s a wakeup call: Corporate fraud is common and on the rise. One of the easiest areas for internal fraud to occur is in employee expensing. But always, in every organization, there are a few who are commuting fraud.

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Fraud Compliance Policies Technology 112

PYMNTS

AUGUST 3, 2017

Back in 2004, fraud was on the rise globally. Digital fraud was a new beast, and people didn’t know any better than to be tricked by phishing emails that today would raise red flags for even the most technologically illiterate consumers — sketchy email addresses, poor grammar and those classic sob stories from Nigerian princes, to name a few.

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Fraud Payments Security Data 123

Celent Banking

SEPTEMBER 18, 2015

With that in mind, I’ll describe my very-high level takeaways of Finovate Fall 2015, held earlier this week at the New York Hilton. Security and Fraud were prominent, as was the concept of components, often enabled by APIs. But they’re also time away from the office, and, to be honest, not every minute is completely productive.

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Mobile Conference New York blockchain 100

PYMNTS

DECEMBER 7, 2017

Studies abound on the impact of payments fraud, said Volmar. The Federal Reserve had a payments study issued in 2015 that did not tally fraud, but only discussed it subjectively, perhaps as the data may have proven disheartening. percent of fraud?”. What’s the one thing that is in short supply as technology evolves?

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PYMNTS

SEPTEMBER 6, 2016

In a world where payments become more invisible the more digital they become, there’s never been a better opportunity to consider new ways to enable the digital transformation of financial services in a secure and compliant way. Payments Security As A Digital Business Enabler. CA Technologies’ Roadmap.

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Security CA Payments Big Data 100

PYMNTS

JULY 13, 2018

However, as call centers are upping their use of automation technology, fraudsters are finding new ways to penetrate it. Just between 2015 and 2016, call center fraud reportedly caused companies to lose $0.58 Among the latest organizations to boast improved call center security is ?eská Fighting Fraud Across Channels.

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Fraud Trends Payments System 105

PYMNTS

JULY 17, 2017

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. It’s a business. percent in Q1 2017.

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Fraud Data Delaware New York City 109

PYMNTS

SEPTEMBER 30, 2016

Fraudsters have been causing problems for retailers over the past four quarters, leading to a 137 percent jump in fraud attacks and affecting $7 out of every $100 made in retail sales, according to the latest PYMNTS.com Global Fraud Attack Index. The collaborative study with Forter measures the rate of fraud attempts made on U.S.

Fraud 100

Fraud Data Cyber Security Study 100

PYMNTS

MAY 23, 2017

In the latest Data Drivers, Uri Rivner, head of Cyber Strategy and vice president of Business Development at BioCatch , stated that as countries around the world embrace faster payments, they may do well to heed some sobering statistics on fraud gleaned from the United Kingdom’s own experience. Data Point One: 300 Percent. In the U.K.,

Fraud 101

Fraud Payments Data Cards 101

PYMNTS

SEPTEMBER 9, 2016

The company is in the rapidly expanding space of fraud protection for eCommerce. Signifyd was founded Raj Ramanand and Mike Liberty, fraud experts who were previously with PayPal. At the end of 2015, the company announced it had a run rate of $5.6 At the end of 2015, the company announced it had a run rate of $5.6

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PYMNTS

JANUARY 9, 2020

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. The first EMV card was developed in 1994, but the technology did not begin circulating worldwide until the new millennium.

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Fraud Cards Retail Security 131

PYMNTS

MARCH 31, 2016

This week, PYMNTS, in collaboration with Socure , released the March edition of the PYMNTS.com Digital Identity Tracker TM , featuring all new research surrounding the increase in online fraud fueled by the increase in EMV card chip tech adoption. Other highlights from the survey include: Only 1.1%

Fraud 100

Fraud Online Resources Survey 100

PYMNTS

APRIL 13, 2016

Fraud prevention technology provider ACH Alert has partnered with Venture Bank to provide customers with real-time fraud protection through its PRO-TECH solution, the companies announced on Tuesday (April 12).

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PYMNTS

MAY 22, 2018

Visa announced that the growing number of chip cards and chip-enabled merchants has helped bring counterfeit fraud in the U.S. One of the leading factors was that chip technology is extremely effective in reducing counterfeit fraud, which was the leading type of fraud in the U.S. down by 76 percent. at the time.”.

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Fraud Cards United States Regional 133

ZootBlog

DECEMBER 14, 2015

In 2015, the financial industry made a point to enhance the customer experience by leveraging massive amounts of data from phone calls, emails, mobile apps, ATMs, and websites. EMV Technology. was the last major market to adopt this technology as their payment standard. The integration of EMV technology in the U.S.

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Mobile Customer Experience Analytics social media 70

PYMNTS

JULY 29, 2019

Digital banking players worldwide — including those in India — are turning to advanced learning technologies like artificial intelligence (AI) and machine learning (ML) to personalize their offerings and draw users onto their platforms. conversational technology to answer users’ questions and interact with them across a variety of channels.

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Digital Banking Fraud Mobile ATM 181

PYMNTS

FEBRUARY 7, 2017

Plaid Technologies, a startup that helps FinTechs like Venmo and Lending Club access their customers’ bank accounts, has raised $44 million in a Series B round of venture capital funding. According to a report , the venture units of Citi and Amex took part in the latest round of fundraising.

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Technology Tools Fintech Analytics 100

PYMNTS

JANUARY 28, 2020

CUs are also leveraging the latest technologies, including cloud computing, to continue fostering the relationships with their customers. Though cloud computing still has its teething issues, CUs are exploring a middle ground between public and private cloud servers to determine the best way to harness this technology. million in 2019.

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PYMNTS

FEBRUARY 6, 2018

Perhaps the last and best hope in the battle against ID fraud – the kind that brings ruin to credit reports and billions of dollars in losses to card companies and merchants. This is the percentage of new account fraud victims who discover they are, well, victims when they are contacted by a debt collector. Digital DNA.

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Fraud Data Security Cards 120