PYMNTS

NOVEMBER 12, 2019

This is just one example of how the explosion of data can increase a company’s fraud vulnerabilities, but can also provide a solution if captured and utilized. Current and Future State of Fraud. consumer records containing PII increased by 126 percent between 2017 and 2018. Too Much Data .

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Fraud Data Tools User Experience 100

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.

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Fraud Online Retail Examples 255

PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

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Fraud Digital Banking Innovation Data 109

CFPB Monitor

OCTOBER 9, 2018

Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”)—released on October 3, 2018 an Interagency Statement on Sharing Bank Secrecy Act Resources (“Statement”). Such resource sharing contemplates reducing costs and increasing efficiencies in the ways banks manage their BSA and AML obligations. Patriot Act.)

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PYMNTS

AUGUST 24, 2018

Payments fraud is, of course, no longer confined to someone swiping a credit card and running up a tab or taking money from a cash register. In corporate fraud, it is the invoice that may be the lure, with account details that facilitate the transfer of money … never to be seen again. That’s a slight drop from previous estimates.

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Fraud Payments Course Software 104

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.

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Cyber Security Security Cards Resources 122

PYMNTS

AUGUST 29, 2019

Digital fraud continues to be one of the most pressing issues that marketplaces face today. Experts estimate that total fraud losses in 2018 totaled $3.9 Developments Around The Digital Fraud World. Businesses are turning to a variety of solutions to fight fraud, including leveraging blockchain technology.

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Gonzobanker

NOVEMBER 28, 2017

In our travels, certain payments-related messages have surfaced over and over, and as we enter 2018, bankers need to pay attention to these five themes: 1 – Debit: In 2018, market forces will take 3% of banks’ current interchange income. 24 this year), and 2018 won’t be any different. Good grief, we’re in 2017.

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Payments Fraud Cards Strategy 87

PYMNTS

JANUARY 27, 2020

percent increase from 2018. Growing attack-related expenses force businesses to remain vigilant against emerging threats, including phishing and other types of fraud that their own employees may willingly or unwillingly perpetuate. Other fraud attempts targeting workplaces are no less dangerous. million in 2019 — a 1.5

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Fraud Policies Security Resources 249

CFPB Monitor

MARCH 12, 2019

The FTC has issued its 2018 Consumer Sentinel Network Data Book. For 2018, imposter scams top the list of reported complaint categories, accounting for 18% of the almost 3 million consumer reports summarized in the Data Book. Credit card fraud was the most common type of identity theft report. declined by 24% from 2017.

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PYMNTS

NOVEMBER 30, 2020

While the business email compromise (BEC) scam is a global pain point for businesses, this week's B2B Data Digest looks at the latest figures in B2B payments fraud and finds BEC heating up in one particular region: Australia and New Zealand. Another business, homewares company Sage and Clare, was out $7,360 after falling for such fraud.

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Fraud Cyber Security Data Software 177

Abrigo

FEBRUARY 10, 2023

Prepare Next steps in CTA rulemaking The next expected rulemaking will revise FinCEN’s customer due diligence (CDD) rule to reconcile differences between the 2018 CDD rule , which is currently in effect, and the new final rule. Stay up to date on AML/CFT and fraud trends with more professional development.

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Fraud Training Regulation Compliance 195

PYMNTS

JANUARY 8, 2020

billion per year in incremental growth between 2018 and 2023. The Digital ID Tracker , done in collaboration with Jumio , is the go-to monthly resource for updates on trends and changes in the digital ID industry. About The Tracker.

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Fraud Cards Security National 169

PYMNTS

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. Developments From Around the World of Digital Fraud.

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Fraud Security Resources Survey 148

Abrigo

JUNE 10, 2020

Adequately staffed and risk-focused AML resources with good documentation are critical. Adequate, risk-focused AML resources are critical. Get adequate resources. You must find a way to get the resources, and I think that message is coming around loud and clear these days.” Focus BSA/AML resources on risk.

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Resources Regulation Compliance Policies 195

PYMNTS

OCTOBER 1, 2019

The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. Developments Around The Digital Fraud World. consumers lose more to romance-based fraud than any other type of scheme.

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Fraud Millennials Regulation Trends 156

FICO

APRIL 29, 2022

With any change, fraud comes hand-in-hand. All these evolutions mean a changing landscape for retail fraud and scam trends. The article also talks about how, unlike credit card and debit card fraud losses, fraudulent activity and losses through Zelle leave customers and often the banks themselves unable to recoup funds.

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Fraud Retail Payments cryptocurrency 52

PYMNTS

MAY 4, 2020

Advances in technology are making consumer transactions seemingly more secure, but cybercriminals are still finding sophisticated ways to beat systems and commit financial fraud. A 2018 study on payment fraud mitigation reported that 75 percent of financial institutions (FIs) experienced fraud losses.

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PYMNTS

FEBRUARY 26, 2020

These merchants have always been vulnerable to in-person fraud, including coupon or promotion scams, but digital channels create new avenues that bad actors can exploit. This also means fraud runs relatively unchecked among quick-service restaurants (QSRs), with total fraud losses on an average order of $15 reaching as high as $36.25.

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Fraud Mobile Security System 141

FICO

DECEMBER 18, 2017

Taking both ends of the spectrum into account, my cybersecurity predictions for 2018 involve cyber scores, 2FA and bio hacks. In 2018, I predict that the awareness and usage of enterprise cyber scores will skyrocket. We’ll See Our First Biometrics Hack in 2018. Biometrics are neither fool-proof nor fraud-proof.

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Cyber Security Security Data Resources 73

Abrigo

MARCH 7, 2022

The world of FinCrime is more dynamic than ever, with fraud escalating thanks to an increase in mobile payments precipitated by the pandemic and security concerns rising over the Russian conflict in Ukraine. Assess your institution's resources with this calculator tool. . Fraud Prevention. Card Fraud. Fraud Prevention.

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cryptocurrency Regulation Fraud Policies 195

PYMNTS

SEPTEMBER 14, 2020

Friendly fraud has been on the rise for years, with customers contacting their banks to falsely assert that their credit cards have been used online for unauthorized purchases. Undeserved chargebacks are no trivial issue, either, as the number of such false claims rose 41 percent between 2016 and 2018. Combining Friendly Fraud.

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Fraud Retail Cards Examples 176

PYMNTS

JUNE 27, 2019

The volume of food and beverage orders placed via mobile apps grew by 130 percent between 2016 and 2018, while 60 percent of U.S. This move follows the 2018 launch of the Starbucks Delivers program in the region. Card-not-present (CNP) fraud is a particular nemesis, as digital ordering leaves few means for physical verification.

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Analytics Data Los Angeles Mobile 122

PYMNTS

JANUARY 29, 2020

A significant number of firms — notably small- to medium-sized businesses (SMBs) — still use such systems, as 25 percent of smaller firms stated in 2018 that their payroll involved pen-and-paper methods. A 2018 report found that 21 percent of the fraud SMBs see is expense reimbursement fraud from their own employees.

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Taxes Fraud Tools System 141

Abrigo

OCTOBER 22, 2019

Financial institutions should be proactive with their fraud prevention on the dark web. . While the focus on small to mid-size merchants may seem counterintuitive, it is carefully designed to “fly under the radar” of larger and better-resourced merchants as well as financial institutions and card brands that monitor larger merchants.

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Fraud Cards Data Payments 150

PYMNTS

APRIL 9, 2020

ITOCHU previously participated in Paidy’s Series B round in 2016 and its Series C round in July 2018, bringing its total investment in the startup to $91 million. Kato added that Paidy has shown they can deploy quick remedies “in the inevitable battles against fraud” and advance the services offered. .

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Customer Experience Resources Fintech Fraud 230

PYMNTS

MAY 6, 2020

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. This includes exploring emerging anti-fraud solutions and the challenges arising in this space as fraud grows more complex. One recent breach at U.S.

Data 181

Data Fraud Tools Technology 181

FICO

NOVEMBER 14, 2017

UBS Card Center, which processes roughly 25% of the credit cards in Switzerland, has cut the amount of fraud write-offs per compromised card, stopped more fraudulent transactions and reduced false-positive rates using the FICO ® Falcon ® Platform. For its achievements, UBS Card Center has won the 2017 FICO Decisions Award for Fraud Control.

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Fraud Cards Analytics Customer Experience 58

PYMNTS

FEBRUARY 20, 2019

19), Mastercard announced the launch of its Cybersecurity Toolkit for SMBs, an online resource developed in partnership with the Global Cyber Alliance (GCA) that provides entrepreneurs and business executives with guidance and tools to address the threat of cyberattacks on their companies. In a press release on Tuesday (Feb. ”

Resources 140

Resources social media Tools Policies 140

FICO

AUGUST 12, 2019

Child identity fraud is an alarmingly large and growing problem. . A 2018 report released by Javelin Strategy & Research found that more than one million children were victims of identity fraud in 2017. As I’ve blogged about previously, synthetic identity fraud is rampant , and fraudsters are growing ever-more sophisticated.

Fraud 40

Fraud How To Resources Report 40

William Mills

JANUARY 25, 2018

William Mills Agency, the largest independent public relations and content marketing firm specializing in the financial industry, released its 15th annual financial services industry report, Bankers As Buyers 2018 today. Fraud Prevention. The report’s table of contents. Introduction. Mobile Developments. Channel Integration.

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Report Technology Innovation Atlanta 40

PYMNTS

NOVEMBER 11, 2019

Data holds the key to helping modern enterprises develop effective anti-fraud strategies. Many businesses are sitting on massive troves of it, but they are also facing down the three “V’s” of data complexity — velocity, variety and volume — which can make tackling fraud even harder. . Structured Versus Unstructured Data.

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Analytics Data Fraud Tools 116

PYMNTS

APRIL 1, 2020

In the March Credit Union Tracker® , PYMNTS analyzes the latest developments in the CU space, such as how they are tackling fraud protection challenges in a growing online banking ecosystem. percent that said the same in 2018, indicating that digital innovation should remain a critical concern for CUs over the next several years.

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United States Innovation Online Tools 181

PYMNTS

MARCH 3, 2020

According to the announcement, “WCCU found its ideal partner — one that would offer exceptional service, act as a valuable resource to help guide the credit union, enhance growth and effectively communicate with staff to help deliver the best possible service to its members — in PSCU.”.

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Cards Wisconsin Analytics Tools 130

PYMNTS

JANUARY 18, 2019

New year, new reason to fear fraud — especially through digital means? The funds are being siphoned off in attacks that mislead human resource (HR) professionals. The mechanics of the fraud work this way: The criminal establishes an email account ostensibly in the name of the chief executive officer of the firm under attack.

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Study Fraud Report Resources 173

PYMNTS

OCTOBER 29, 2018

That wouldn’t just impact FIs’ digital fraud-fighting capabilities; FinTech firms often rely on bank security and authentication tools to help validate customer identities, too. New open banking tools mean new types of financial transactions, which could make fighting digital fraud even more difficult for banks. Protecting APIs.

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Security Fraud Tools Data 192

PYMNTS

JANUARY 12, 2018

That shift, for contact or contactless payments, goes into effect April 2018. As has been noted by the firm and in this space , in the two years since EMV chip cards launched in the United States, fraud has declined by 66 percent. The company directed merchants and partners to find information and resources at: [link]. .

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America United States Analytics Cards 153