PYMNTS

JANUARY 21, 2021

Melissa Townsley-Solis, head of GIACT , discusses one of the negative effects of COVID-19: the escalation of fraud in the payments arena. I n " A Look Forward: What Executives Wish for America and the World in 2021." Fraud was red-hot in 2020. We know that in the year ahead, fraud networks will not give up the fight.

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PYMNTS

SEPTEMBER 28, 2020

Pandemic-related fraud attempts continue to climb. This week's B2B Data Digest looks at the latest figures behind such fraud targeting corporate finance teams. According to the report, business leaders are more concerned about data security than ever before, citing the pandemic as one factor behind the fears. 45 percent of U.S.

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PYMNTS

JANUARY 1, 2021

If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers.

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PYMNTS

DECEMBER 18, 2020

These growing revenue streams carry their own risks, however, not the least of which is their propensity to be targeted by fraud. The Fraud Threats Of 2020. Most customers bypass restaurants entirely when trying to perpetrate chargeback fraud , with 76 percent of cardholders going directly to their payment card issuers.

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Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Takeaway 2 A worsening economy increases pressure to commit fraud, provides opportunities to commit fraud, and can be used as an excuse by criminals to rationalize their actions.

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PYMNTS

DECEMBER 16, 2020

The industry as a whole lost $165 billion in revenue between March and July, and it is on track to lose $240 billion by 2021 — with the decline expected to continue until the pandemic abates. Mobile ordering apps are largely responsible for keeping the industry above water, but fraud still plagues the sector.

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PYMNTS

JANUARY 18, 2021

"Even after the pandemic subsides, the digital acceleration we experienced in 2020 will not — it is here to stay," she says in " A Look Forward: What Executives Wish for America and the World in 2021.". Challenges And Opportunities Ahead In 2021. 2021 is likely to be the year when omnicommerce moves from hype to reality.

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PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch . A PYMNTS study on U.S.

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Fraud Strategy Study Cards 148

Abrigo

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. Check Fraud. Still the number one type of fraud in banking. There is also usually more than one signee assigned to those accounts, making them more susceptible to fraud.

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Fraud Trends Survey Technology 195

TheGuardian

SEPTEMBER 22, 2021

UK Finance says £754m stolen from bank customers in first half of 2021 as scammers capitalised on Covid Fraud victim scammed for almost £25,000 Coronavirus – latest updates See all our coronavirus coverage Fraud in the UK has risen to a level where it poses a “national security threat”, according to the main banking body, with £754m stolen from bank (..)

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Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

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Fraud Training United States Survey 195

Abrigo

MARCH 4, 2022

Synthetic ID fraud is growing quickly and hurts FIs and customers Knowing the schemes associated with synthetic identity fraud and how criminals avoid detection can help minimize losses. Takeaway 1 Synthetic identity fraud is a growing form of identity theft in which an individual is impersonated by using stolen information.

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Fraud Cards Software Trends 195

PYMNTS

OCTOBER 30, 2020

In today’s top news, Mastercard reveals its AI tool Cyber Secure to help banks fight cyber breaches, and Amazon reported record-setting earnings. Mastercard’s Cyber Secure Uses AI to Help Banks Fight Cyber Fraud. Likewise, Alphabet reported a strong Q3, thanks in large part to renewed consumer spend.

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Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. New account fraud.

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Abrigo

JANUARY 13, 2021

High-risk transactions identified To combat PPP fraud, the SBA Office of Inspector General (OIG) has collaborated with the U.S. Takeaway 2 To thwart PPP fraud, the SBA has collaborated with the U.S. Takeaway 2 To thwart PPP fraud, the SBA has collaborated with the U.S. Combatting Fraud. Lessons Learned.

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Fraud Community Lending Analysis 195

PYMNTS

JANUARY 26, 2021

Nearly a year of trial-by-fire, pandemic-era learning within the payments business has not only provided some great lessons but has also set the stage for some major advances in 2021 that have been in the cards for years. Currently, actual instances of fraud are low, but Waterhouse said it’s better to be proactive. “As

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Payments Fraud Taxes Tools 274

PYMNTS

JANUARY 18, 2021

People in general are more aware of — and concerned about — fraud as we pass through a second season of COVID, and eCommerce continues to rack up impressive stats, good and bad. Businesses Taking Action As Consumers Fret Over Fraud. New Threats Evolving ‘All The Time’.

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PYMNTS

OCTOBER 9, 2020

billion consumers will be shopping primarily through digital channels by 2021 — representing a $6.5 This includes upgrading digital security measures, but the resurgence of brick-and-mortar commerce has required upgraded technologies to accept contactless payments and mobile wallets. trillion opportunity for eCommerce retailers.

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Fraud Retail Report Online 188

PYMNTS

SEPTEMBER 22, 2020

million in 2021 as dining spaces reopen but is eventually expected to rebound to 53.9 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. percent to 45.6

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Fraud Mobile Tools Study 255

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.

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Fraud Security Analytics Data 195

PYMNTS

FEBRUARY 3, 2020

Losses due to false credit and debit card declines — in which merchants reject legitimate orders on the mistaken belief that they are fraudulent — grew to $118 billion last year and are projected to reach $443 billion by 2021. Fraud And The Problem Of Convenience. How Banks Are Responding To Fraud Concerns.

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FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

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Fraud Survey Customer Experience Retail 98

PYMNTS

JANUARY 21, 2021

No matter the setting, no matter the products and services being rolled out that serve the member wherever he or she wants to interact with the CU, security and speed of new innovations are critical drivers, she said. Platforms such as PSCU’s cloud-native Lumin Digital help CUs plug into new initiatives that improve members’ experiences.

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Analytics Fraud Trends Mobile 240

FICO

JANUARY 29, 2021

Today it gives me great pleasure to announce the winners of the 2021 FICO® Decisions Awards. . Submissions included complex optimization problems, the automation of previously manual business processes and using the power of AI and machine learning to stop fraud and improve lending. 2021 Decisions Award Winners. 2021 Judges. .

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FICO

SEPTEMBER 23, 2020

We invite companies that are achieving outstanding success using analytics and decision management solutions from FICO to submit their nominations for the 2021 FICO® Decisions Awards. Nominations are due December 4, 2020, and winners will be announced January 22, 2021. by Nikhil Behl.

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CFPB Monitor

JULY 19, 2022

On July 13, 2022, the House Committee on Oversight and Reform, Subcommittee on National Security held a hearing entitled “Protecting Military Servicemembers and Veterans from Financial Scams and Fraud.” Malini Mithal testified that the FTC received over 200,000 reports of military fraud in 2021, totaling over $267 million in losses.

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Fraud National Security social media 78

FICO

DECEMBER 15, 2020

It is true that the pandemic has accelerated the majority of digital trends and challenges this past year; I believe the “COVID effect” will persist strongly into 2021, which brings me to three broad predictions: Consumer spending patterns will remain in flux, requiring financial institutions to keep their guard up as fraud patterns change quickly.

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Fraud Compliance Management Software 52

FICO

DECEMBER 10, 2020

In 2021 I believe AI will cross the chasm, becoming a reliable and safe, mainstream business technology — but maybe not how, or for reasons why, you might expect. In 2021, organizations will stop their handwringing over AI and get down to brass tacks. COVID Is the Mother of AI Maturity. Prediction #2: AI as a Service Will Take Off.

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PYMNTS

JANUARY 8, 2021

Equifax has inked a deal to purchase artificial intelligence (AI)-powered fraud prevention and digital identity technology provider Kount for $640 million. As digital migration accelerates, managing authentication and online fraud while optimizing the consumer's experience has become one of our customers' top challenges,” Equifax CEO Mark W.

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BankInovation

DECEMBER 13, 2021

Fraudsters in 2020 and 2021 had their best years ever, SentiLink co-founder and CEO Naftali Harris tells Bank Automation News in this episode of “The Buzz” podcast. In 2020, combined fraud losses cleared $56 billion and fraud opportunities were exacerbated by COVID-19.

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Security Fraud Payments 98

PYMNTS

OCTOBER 14, 2020

Restaurants are working overtime to ensure their ordering systems are as friction-free and secure as possible, with many deploying advanced technologies to do so. The chain recently unveiled a new restaurant design plan that will primarily leverage contactless digital and mobile technologies, with the first location planned to open in 2021.

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Analytics Fraud Data Mobile 161

PYMNTS

APRIL 9, 2020

The 2020 Summer Olympics, which were to take place in Tokyo, have been rescheduled for 2021 as the spread of the coronavirus leaps over international borders and outruns human efforts to contain it. securities laws. China is not the only country dealing with cryptocurrency issues.

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blockchain Groups Fraud cryptocurrency 166

BankInovation

FEBRUARY 10, 2022

Digital is a low-risk, high-reward environment for cyberattacks, Andy Renshaw, senior vice president at fraud and risk management company Feedzai, told Bank Automation News. Account takeovers increased threefold between 2019 and 2021, according to […].

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Fraud Mobile Risk Management Management 98

FirstInternet

JANUARY 13, 2021

At First Internet Bank, keeping your account and information safe and secure every day is our top priority. We use only the most current, top-rated network technology – like firewalls, encryption and secure sessions – to ensure that every one of your online transactions is protected. Computer-based fraud is more prevalent than ever.

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BankInovation

JANUARY 26, 2021

AI applications helped Mastercard stop almost $20 billion in fraud this year and the company hopes to deter more cybercrimes in 2021 with this month’s launch of its cybersecurity Trust Center for small businesses.

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Fraud Security Company 69

Abrigo

JANUARY 4, 2023

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud. But with increased popularity comes more opportunity for fraud. DOWNLOAD WHITEPAPER.

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PYMNTS

MARCH 11, 2020

Companies are already anticipating the sixth edition of that regulation, which will go into effect in 2021 when it is expected to increase the severity of money laundering penalties as well as better ensure that individual perpetrators do not evade personal responsibility for their crimes. Download the Tracker to read the Feature Story.

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