The Paypers

JUNE 5, 2023

Security and transaction monitoring solutions provider Sumsub has shared fraud data statics for North America which showcase an increase in forced verification and deepfakes.

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Payments Dive

JULY 18, 2022

The CFPB accused the bank of implementing a faulty fraud filter that would trigger an account freeze over a “simple set of flags.”

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PYMNTS

NOVEMBER 1, 2020

Corporate travel and expense management solution provider Serko has launched its Zeno Expense tool in North America, giving customers a new option for B2B travel management, a press release on the company website stated, alongside the company's Zeno Travel tool that was already available.

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PYMNTS

NOVEMBER 18, 2020

It can also serve as a powerful tool in restaurants’ fight against fraud, which is becoming an increasingly prevalent issue as bad actors target the flood of customers using digital channels during the COVID-19 pandemic. Payment protection platform Verifi has partnered with digital fraud protection firm Kount Inc.

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BankInovation

OCTOBER 14, 2021

Wells Fargo, Bank of America and U.S. At Wells Fargo, automation helped reduce costs in fraud management, card collection and other areas during the third quarter, according to Chief Financial Officer Mike Santomassimo. Bancorp all highlighted their digital growth and use of the payment platform Zelle in today’s earnings calls.

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PYMNTS

OCTOBER 15, 2020

When Fisher sent the funds using the account number, it made its way to Wells Fargo and then Bank of America before the criminals withdrew it, according to CNBC. Bank of America reportedly said the clawback was possible because the fraud was reported to the bank quickly. The Fishers got their money back.

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BankInovation

FEBRUARY 8, 2024

Industrywide, financial institutions are seeing an uptick in synthetic identities, scam activity and check fraud even as digital channel adoption grows. In fact, check fraud is expected to reach $24 billion in 2024, according to a Jan. As consumers lean into […]

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PYMNTS

JUNE 27, 2018

Bank of America has been accused in a lawsuit of providing more than 100 accounts, used to carry out a $102 million Ponzi scheme. Bank of America, N.A., Bank of America spokesman Bill Halldin had no immediate comment on the lawsuit. According to Bloomberg , the class-action suit, Heinert v. was filed in U.S.

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PYMNTS

APRIL 23, 2020

The health insurance market is even more vulnerable: Up to $68 billion is lost to health insurance fraud each year. Fraud doesn’t just hurt insurance companies, however, as the losses are largely passed on to legitimate customers in the form of increased premiums. Types of Insurance Fraud. How AI Can Limit Insurance Fraud.

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PYMNTS

JUNE 12, 2018

Entersekt , the push-based authentication and app security company, announced Tuesday (June 12) that it has opened a new office in Atlanta, Georgia, aimed at supporting the company’s growth and serving as the headquarters in North America. The new headquarters will be located at 7000 Central Park in Sandy Springs, GA.

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PYMNTS

AUGUST 7, 2020

The COVID-19 pandemic is taking a tremendous toll on communities across America,” Brainard said. Combatting Fraud — And Addressing Competition And Costs . In a Thursday (Aug. 6) symposium highlighting the Fed’s approval of the FedNow system, Fed Gov. Or as George noted, a directory service that might be introduced after launch.).

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PYMNTS

JUNE 28, 2018

Fraud is a Top Worry. Evidence of that comes from Swift’s Latin America Regional Conference , held earlier this month in Miami. A poll of attendees found that fraud stands as “the main compliance concern of 31 percent of delegates, closely followed by correspondent relationships (27 percent), and OFAC and sanctions (23 percent).”.

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Chris Skinner

APRIL 30, 2020

Things we’re reading today include … Lloyds profits crash 95% as bank covers expected surge in bad debts Banks ‘can do more’ to compensate fraud victims How to detect business fraud Why the unemployed in America could face a lost decade Global equities dip at end of best month since … The post Things worth reading: 1st (..)

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Chris Skinner

MARCH 3, 2017

Launched work to address the industry’s most pressing payment system security issues: identity management, data protection, and fraud and risk information-sharing. Inventoried current industry efforts to share information for fraud and risk prevention and mitigation.

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PYMNTS

FEBRUARY 17, 2020

In this first-of-its-kind fraud prosecution of a small technology company, Golestan is facing 20 counts of wire fraud in a suit brought in the U.S. This is the first federal case that brings fraud allegations to internet resources. District Court in South Carolina. Golestan and his corporation have pleaded not guilty.

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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.

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PYMNTS

MARCH 5, 2018

Nippon Ichi Software announced news that its American division, NIS America, was the victim of a major data breach that exposed the personal and financial data of online customers. 26, we became aware of a malicious process that had attached itself to our checkout page,” NIS America said in the email. On the morning of Feb.

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PYMNTS

SEPTEMBER 26, 2017

Additionally, Bank of America is looking to strike a difficult balance between customer convenience and security from data breaches. “We 89,000 | Cases of identity fraud reported in the U.K. Here are the numbers: 21.72 billion | Predicted market value of biometric identification for vehicles by 2022. in the first six months of 2016.

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PYMNTS

APRIL 10, 2019

authorities announced that they have charged a number of individuals in connection with one of the biggest healthcare frauds ever prosecuted in the nation. The fraud, which resulted in more than $1.2 The fraud, which resulted in more than $1.2 In a joint statement from several U.S. In a joint statement from several U.S.

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ATM Marketplace

OCTOBER 23, 2020

ATM Marketplace spoke with Mike Lemberger, senior vice president and regional risk officer for Visa, North America, on ways Visa is helping disrupt fraud before it attacks customer data. This is part two of a two-part series on fraud.

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FICO

DECEMBER 12, 2022

Network International & FICO Bring MEA Enterprise Fraud Detection. With FICO Falcon Fraud Manager, Network International uses AI and machine learning technology to score transactions across a rapidly expanding array of payment options. The Need for Enterprise-Level Fraud Detection. FICO Admin. Thu, 12/19/2019 - 16:29.

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PYMNTS

DECEMBER 30, 2016

Canada and the Netherlands, as well as a larger launch in Europe this year, Mastercard is now unveiling Identity Check Mobile to Latin America. Smartphone penetration in Latin America was about 32 percent in 2014 and is expected to grow to nearly 70 percent by 2020. After fruitful trials in the U.S., and Europe.”.

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PYMNTS

APRIL 6, 2020

Add to that $2 trillion in stimulus funds about to flow forward from federal coffers in a variety of forms, and one has a recipe for a fraud outbreak the likes of which the world has never seen. Edwards talked with Karen Webster and Visa ’s Vice President of North America Risk Lori Hodges. Flattening the Fraud Curve.

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PYMNTS

MARCH 11, 2016

Latin America is a land of opportunity, but it also presents challenges that demand an on-the-ground understanding of commerce and transacting within the various countries and cultures that it comprises. Another key factor is that over 60 percent of eCommerce in Latin America is done via installments. “If

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PYMNTS

JULY 21, 2017

If a data breach is a sprint — where a fraudster grabs as much data as he or she can, as quickly as possible, in an effort to maximize ill-gotten gains — the fight against fraud is a marathon. Fraud varies country to country, region to region. Europe may offer a tell on the fraud to come. A marathon that never ends.

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PYMNTS

NOVEMBER 8, 2018

PNC Bank’s Treasury Management unit is testing a new solution to address card-not-present (CNP) fraud for commercial clients. Commercial cards with EMV chips and Dynamic CVV2 that are compromised are “rendered virtually useless,” with protection against both card-present and CNP fraud. “Almost all U.S.

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ATM Marketplace

OCTOBER 20, 2020

Fraud is something that financial institutes, banks, merchants and consumers regularly battle. ATM Marketplace spoke with Mike Lemberger, senior vice president and regional risk officer for Visa, North America, on ways Visa is helping disrupt fraud when it occurs. This is Part 1 of a two-part series on fraud.

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PYMNTS

JANUARY 12, 2018

12) in a blog post that it is making the signature an option — and no longer a requirement — for EMV chip-enabled merchants across North America. 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. No more signatures. million U.S.

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PYMNTS

FEBRUARY 24, 2016

Consider Latin America. But for firms looking to make the leap into Latin America, especially among payments firms, several factors must be top of mind before and during the move into these potentially rewarding new markets. – Local fraud management and chargeback insights.

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FICO

MAY 18, 2023

The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS). The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS). Dock began implementing Falcon Fraud Manager in 2019 and added CCS in 2020.

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FICO

OCTOBER 18, 2022

FICO Fraud Expert Naomi Palmer Wins Women in Credit Award. Naomi Palmer, a fraud consultant at FICO, won silver in the ‘Team Player of the Year’ category. Naomi is an outstanding consultant who has helped clients around the world combat fraud and protect their customers. How FICO Can Help You Improve Your Fraud Programmes.

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PYMNTS

JUNE 21, 2019

Fraud knows no boundaries. In the B2B space, the latest cases are spread across North America, Australia and the U.K. Aside from the political implications of such claims, The New Yorker ‘s report pointed to the fraud risks that organizations face, even from the C-Suite. In the U.S.,

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PYMNTS

FEBRUARY 2, 2018

Bank of America (BofA) officially announced it “will begin declining credit card transactions with known cryptocurrency exchanges” today through a memo distributed to employees on Thursday (Feb. Despite CEO Jamie Dimon referring to bitcoin as a “ fraud ” in 2017, JPMorgan Chase & Co. The second-largest U.S.

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FICO

NOVEMBER 16, 2022

Enterprise Fraud Solution Buyers Want More Agility, More Data. Our recent global survey reveals the investment priorities and functionality requirements for enterprise-level fraud solution buyers. We asked about priorities, plans and requirements for enterprise fraud prevention and detection solutions , and the results are fascinating.

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FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. Ulisses Okamoto , Fraud Risk Management Superintendent at Itaú Unibanco (Brazil). by TJ Horan.

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PYMNTS

OCTOBER 8, 2020

EMEA, Asia and the Pacific and Latin America. Feedzai has seen the increase in fraud and scams with the pandemic. The company says its fraud solution works to decrease costs and more efficiently target the activity. percent of users who hadn’t experienced fraud were concerned about it, too. And meanwhile, 35.7

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Payments Source

JANUARY 30, 2018

Global payment and fraud prevention provider Pelican is bringing its faster payments system to the North America market after working within the European SEPA Instant Payments scheme last year.

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