PYMNTS

NOVEMBER 13, 2020

The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. Robust digital ID verification practices could make many fraud schemes a thing of the past, but many banks and businesses have yet to adopt them.

Fraud 242

Fraud US Mobile Study 242

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. .

Fraud 195

Fraud Training United States Survey 195

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Customer Experience 59

Customer Experience Survey Fraud Cards 59

PYMNTS

JANUARY 13, 2021

The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Phishing scams were on the rise all year, while a survey of online shoppers found that 40.3 percent had falsely claimed a charge on their credit card was fraudulent to score a refund.

Fraud 189

Fraud Analytics Data Retail 189

FICO

DECEMBER 13, 2022

Biometric Security Crucial for Fraud Protection and CX. Because customers value ease of use and good fraud protection most, FIs must balance scam protection with making things easy for good customers – but not TOO easy. Customers Prefer Biometric Security. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford.

Fraud 52

Fraud Security Survey Customer Experience 52

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up. Instances of APP fraud around the globe have continued to rise as real-time payment rails extend their reach.

Fraud 223

Fraud Payments Survey Security 223

FICO

FEBRUARY 16, 2022

FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . Survey Findings: Digital Dominates, But Customer Experience Remains Important. Some Consumers Lack Confidence in Bank Security, Dissatisfied.

Survey 52

Survey Fraud US Customer Experience 52

FICO

FEBRUARY 16, 2022

FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . Survey Findings: Digital Dominates, But Customer Experience Remains Important. Some Consumers Lack Confidence in Bank Security, Dissatisfied.

Survey 52

Survey Fraud US Customer Experience 52

PYMNTS

OCTOBER 18, 2018

18) that cardholder signatures will now be optional for the back of credit cards and receipts. In a press release , Mastercard said it is making the changes due to advancements in technology and security. Based on a survey in the U.S., Mastercard, the payments company, announced on Thursday (Oct. We see this as a win for all.

Cards 218

Cards Survey Security Fraud 218

PYMNTS

SEPTEMBER 22, 2020

One recent study estimated that roughly 44 million Americans would tap food delivery apps by the end of this year, up from 38 million in 2019, and another survey predicted that the number of smartphone delivery app users will climb 25.2 It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

Fraud 255

Fraud Mobile Tools Study 255

PYMNTS

AUGUST 11, 2020

No one will call to ask for your bank account, credit card or Social Security number, the FTC said. As in the first distribution of $1,200 checks in the spring, most people will get money direct deposited, or via a debit card or check will be mailed to the address where your taxes were filed.

Fraud 174

Fraud Taxes Survey Cards 174

PYMNTS

JANUARY 31, 2020

A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods.

Fraud 148

Fraud ATM Cards Security 148

PYMNTS

OCTOBER 17, 2018

According to data from the Federal Reserve Payments study, it found the value of noncash fraud jumped 37 percent to $8.3 The Federal Reserve said in a press release that the fraud data was collected as part of surveys of depository institutions in 2012 and 2015 and payment card networks in 2015 and 2016. billion in 2012.

Fraud 184

Fraud Payments Cards United States 184

PYMNTS

DECEMBER 16, 2019

’Tis the season for corporate fraud? the FBI recently issued a warning for holiday shoppers of a new scam called eSkimming , in which cyber criminals hack into legitimate online retailer websites to steal shoppers’ credit and debit card details. Yet, analysts warn, as cross-border B2B payment volumes rise, so does the risk of fraud.

Fraud 149

Fraud North Carolina Payments Delaware 149

PYMNTS

DECEMBER 30, 2016

Still, researchers have found, many businesses do just that: RedSeal released a report this month that described the state of corporates’ approach to enterprise security as one of “cyber naïveté,” with many executives believing that their existing strategies are sufficient to ward off a cyberattack.

Fraud 145

Fraud Security Survey Technology 145

PYMNTS

NOVEMBER 27, 2020

Remote onboarding has overtaken (some might say overwhelmed) banks and merchants all year long as a deluge of faceless applicants opened accounts and cards. Over 80 percent of respondents in a recent survey reported fake users as a significant problem,” Bud Walker, chief strategy officer at Melissa, told PYMNTS. Phone Call For You.

Security 269

Security Study Mobile Data 269

PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Fraud 131

Fraud Customer Experience Compliance Survey 131

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 .

Fraud 148

Fraud Strategy Study Cards 148

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

Fraud 284

Fraud Study United States Training 284

FICO

NOVEMBER 10, 2020

I am always glad to see headlines like this one, which ran last summer in The New York Times: “ How to Reduce Credit Card Fraud.” Every Transaction Is Assessed for Fraud. FICO’s patented and proven fraud analytic capabilities have helped organizations save $90 billion+ per year. Steps Ahead of Financial Criminals.

Fraud 98

Fraud Cards Analytics Mobile 98

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

APRIL 27, 2020

As the digital shift continues to keep pace with post-coronavirus shopping behaviors, eCommerce fraud is growing with it. In fact, 22 percent of respondents in a recent TransUnion survey claimed they had “been targeted by digital fraud related to COVID-19.” The company’s technology tracks user behavior to determine fraud.

Fraud 164

Fraud Company Security Comparison 164

PYMNTS

APRIL 1, 2019

When it comes to online shopping, one of the greatest frustrations for consumers — and friction points for merchants — is having to manually enter credit or debit card information for each purchase. In the latest Mobile Card Services Playbook , a collaboration with Ondot , PYMNTS surveyed more than 9,500 U.S.

Online 212

Online Cards Mobile Maine 212

PYMNTS

SEPTEMBER 18, 2017

How secure do you feel when it comes to payments? Consider a survey commissioned by payment, telecom and financial data solutions provider Transaction Network Services (TNS), which found that 85 percent of adults across the United States, the United Kingdom and Australia believe fraud attempts on debit and credit cards are on the upswing.

Security 152

Security Payments Survey Cards 152

FICO

APRIL 20, 2023

According to FICO’s latest survey of consumers from 14 countries around the globe, 90% of all consumers have sent a real-time payment, and at least 95% of consumers have used real-time payments in India , Indonesia , the Philippines , and Brazil. Throughout the countries we surveyed, RTP usage shows no signs of slowing.

Survey 52

Survey Payments Fraud Management 52

PYMNTS

JANUARY 17, 2020

An uptick in check fraud has financial institutions considering whether they should update methods and stop using checks, according to a report Wednesday (Jan. Check fraud, or the attempt to perpetrate it, has gone up from $8.5 Also, it makes up 60 percent of all attempted fraud against U.S. 15) by The Wall Street Journal.

Fraud 141

Fraud Survey California Resources 141

PYMNTS

DECEMBER 4, 2020

Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security. The virtual card offers a strong value proposition for corporates in the form of enhanced security and control over spend. But without support for mobile wallets, v-card adoption can lag. Top Trackers And Reports.

Cards 151

Cards Data Mobile Survey 151

PYMNTS

DECEMBER 20, 2019

More than one-third of Americans surveyed report being victims of cybercrime in 2019, and 41 percent of those incidents involved the theft of credit or debit card information. Fraud prevention tech has to scale. Clean’ and ‘Friendly’ Fraud are Neither. That’s “clean” fraud. vs. the FinTechs.

Fraud 137

Fraud Fintech Training Cards 137

PYMNTS

DECEMBER 11, 2019

adults to possess a credit card , so the warp-speed adoption of mobile card apps has been a comparative blur. In surveying mobile card app usage for the December 2019 Bridging the Gap: Mobile Card App Adoption Report , PYMNTS found a vibrant, growing payments ecosystem. Based on a survey of nearly 2,000 U.S.

Mobile 132

Mobile Cards Survey Millennials 132

PYMNTS

JANUARY 2, 2019

While commercial card innovation certainly accelerated in 2018, progress can always continue. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. One area of development that J.P. Following The Consumer Trend.

Mobile 211

Mobile Cards Samsung America 211

PYMNTS

OCTOBER 5, 2020

Retailers must protect customers’ card data from hackers who try to snatch payment details, and following best practices to ensure security requires adhering to the regulations established by the PCI SSC, a global payments industry forum. Compliance Complexities.

Cards 207

Cards Data Compliance Payments 207

PYMNTS

MAY 22, 2020

Moreover, all demographic groups are far more likely to use phone than email or chat to reach card service departments — and this method is associated with higher satisfaction and resolution rates. Billing issues and payments is the most common reason, cited by 29 percent of cardholders, followed by fraud and data security, cited by 23.8

Cards 216

Cards Data Millennials Report 216

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

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.

Fraud 78

Fraud National Security social media 78

Bank Innovation

OCTOBER 19, 2018

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

Study 150

Study Fraud Payments Survey 150

PYMNTS

APRIL 2, 2019

Storing a card on file is an integral part of the shopping experience for many consumers, as eCommerce continues to explode across the retail landscape. Late last month, SentiLink , which uses technology to detect and prevent synthetic fraud, raised $14 million in a Series A round earmarked for a number of initiatives.

Cards 108

Cards Survey Fraud Security 108

PYMNTS

AUGUST 18, 2017

Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. There’s never ‘too much’ security,” Grant said.

Security 131

Security Fraud Analytics Tools 131