PYMNTS

JUNE 25, 2020

Gareth David Long, a 41-year-old Las Vegas resident, was sentenced to 70 months in prison for fraud for stealing money from victims’ accounts, the Department of Justice said in a press release. Long pled guilty in November of 2019 to a scheme where he committed wire fraud and aggravated identity theft.

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Fraud Las Vegas Company Texas 167

PYMNTS

JANUARY 15, 2020

Fraud detection company DataVisor, which uses artificial intelligence (AI) to help find fraud activity and correct it, has released a new anti-fraud solution called dEdge, which can detect attacks and malicious operations in real time, according to a press release. .

Fraud 130

Fraud Security Data Mobile 130

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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Fraud Trends cryptocurrency Software 195

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. Unlike the crypto markets, Wingert said the banking and payments industries continue to be slow to adapt to the challenges of KYC and fraud prevention. In fact, a recent GeoGuard survey found that U.S.

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Fraud Compliance cryptocurrency Security 270

PYMNTS

AUGUST 17, 2020

When it comes to fraud threats, no company — large or small — is immune. The Federal Trade Commission recently filed a complaint against Yellowstone Capital, Fundry and their officers, alleging the merchant cash advance companies had been withdrawing funds from small business bank accounts.

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Fraud Trends Security Report 237

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . Computer-security incident notifications required. Expand and Clarify.

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PYMNTS

APRIL 10, 2020

This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sector more than $200 billion annually by some estimates. Moreover, the benefit cited by the greatest proportion of healthcare firms (65.6

Fraud 362

Fraud Payments System United States 362

PYMNTS

JANUARY 3, 2021

The recently discovered cyber attack on federal government agencies and companies handling data as sensitive as information regarding new nuclear weapons was run from servers within the United States, The New York Times reports. Sources told the Times the matter may have been exacerbated by the focus U.S.

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PYMNTS

FEBRUARY 18, 2019

So much of the focus on fraud these days involves exploiting holes in software, hacking into systems to steal personal information and payment data, or otherwise using digital methods in heists. But recent news involving “death-spiral financing” reminds us that fraud is still conducted in other, relatively old-fashioned ways.

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Fraud Operations Security Software 122

Perficient

JULY 20, 2023

Businesses seek to optimize their operational efficiency as part of their digital transformation. In today’s business environment, physical checks present several challenges that hinder operational efficiency, including time-consuming processing, high costs, and susceptibility to errors or fraud. billion payments (27.23

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Strategy Payments Fraud United States 221

PYMNTS

SEPTEMBER 8, 2020

In this week's B2B Data Digest, PYMNTS looks at some of those numbers, finding cybercriminals both within and outside of the enterprise don't discriminate across borders as attacks hit companies in New Zealand, the U.K. 1 million was stolen from the City of Industry via invoice fraud, claims officials in the California city.

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Company Los Angeles Fraud Data 174

PYMNTS

JANUARY 13, 2020

It was a difficult week for businesses getting hit with cyberattacks, with foreign currency company Travelex among the most high-profile of recent cases. PYMNTS’ examination of recent cases finds employees falsifying invoices, doctoring checks and faking out companies to steal money from employers.

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PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. ATMs are common avenues for fraud, however, especially those that are running outdated software. billion by 2024.

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Analytics Fraud ATM Report 266

PYMNTS

JUNE 23, 2020

Federal Reserve has introduced a new effort to combat payments fraud. “Designed to allow our corporate customers to stay ahead of the evolving demands of their clientele, this innovative cash management API also supports businesses in their digital transformation and daily operation optimization,” she stated. In the U.S.,

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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. She stresses the importance of small businesses fighting back against fraud in 2021 in order to achieve economic recovery. Fraud was red-hot in 2020. Businesses across the U.S.

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Fraud social media Strategy Maine 180

PYMNTS

OCTOBER 22, 2020

As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 That’s a path that McCutcheon said will have challenges, but perhaps fewer than we’ve seen in the recent history of security upgrades. also known as “3DS 2.0” Why 3DS 2.0

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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.

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Fraud Payments Survey Security 223

PYMNTS

DECEMBER 2, 2019

As B2B fraud threats like the business email compromise (BEC) scam or internal employee theft continue to grow for businesses large and small, experts are urging business owners and executives to take the lead in combatting fraudsters. Officials noted that invoice fraud occurs on a “regular basis,” according to 3FM reports.

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Fraud Arkansas Apple Report 176

PYMNTS

MAY 12, 2020

An internal investigation into alleged fraud at Luckin Coffee Inc. has led to the firing of several top executives at the Beijing, China-based java giant, the company announced on Tuesday (May 12). In addition, the company has placed six other employees on suspension or leave due to involvement in or knowledge of the fraud.

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Fraud Chicago Washington Regional 185

PYMNTS

SEPTEMBER 10, 2019

Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. . The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. . How Mobile Financial Startups Can Bridge the Security Gap. Around the AML/KYC Worl d.

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Security Fintech Fraud Compliance 185

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. About The Tracker .

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Boston Fraud Marketing Mobile 186

PYMNTS

JULY 8, 2020

“In many cases, AI is fundamental to scaling and keeping up with the pace of the network transactions that are happening,” said Sudhir Jha , a Mastercard senior vice president and head of Brighterion , an AI company that Mastercard acquired in 2017. Fighting Fraud in a Post-Pandemic World. Using AI to Optimize Internal Operations.

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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. New threats are evolving all the time,” KP Brendel, director of marketplace operations at online thrift and consignment storefront Swap.com, told PYMNTS. “New

Fraud 144

Fraud Security Study Retail 144

PYMNTS

JANUARY 14, 2021

Commerzbank has told lawyers that the bank was a victim of fraud in the ongoing Wirecard case, Reuters reported Thursday (Jan. Commerzbank Chief Risk Officer Marcus Chromik told a parliamentary committee that the bank agreed to extend credit to Wirecard in 2018, based on assurances about the company's prospects.

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Fraud Regulation Operations Report 146

PYMNTS

DECEMBER 26, 2019

Thwarting fraud in one area is not enough to prevent it from cropping up elsewhere, and businesses are essentially playing whack-a-mole as fraudsters’ attacks move across channels. Digital fraud rose 30 percent in Q3 2019, with one out of every five new accounts revealed to be illegitimate.

Fraud 130

Fraud Strategy Tools Security 130

PYMNTS

JULY 15, 2020

After weeks of relentless headlines on the collapse of Wirecard , the High Court of Justice in London handed the German payments company a victory on Wednesday (July 15), the Financial Times (FT) reported. Judges dismissed a civil suit that alleged Wirecard of fraud weeks after the company filed for insolvency in a Munich court.

Fraud 160

Fraud Taxes Groups Compliance 160

PYMNTS

AUGUST 22, 2019

FinTech firms are tapping into automation and training to stay on top of the latest security developments, while keeping an eye on evolving trends in the payments space. Fraud, for instance, is an ongoing threat, with nearly three-fourths of U.S. financial institutions reporting growing losses attributed to online and mobile fraud.

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Fraud Fintech Training Security 142

PYMNTS

NOVEMBER 19, 2020

This shift has prompted many eateries to rely on emerging tools like artificial intelligence (AI) to better manage various aspects of their operations as consumers transact remotely. The technology is also credited with helping them meet diners’ demands for seamless purchasing experiences as well as enabling them to battle fraud. .

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Boston Fraud Meeting Mobile 200

PYMNTS

JUNE 19, 2018

The Federal Trade Commission (FTC) has announced a new law enforcement initiative targeting operations seeking to defraud small businesses. BBB is pleased to partner with the FTC to help small businesses spot and avoid scams and fraud.”. Postal Inspection Service, two U.S.

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Maine Fraud Operations Survey 108

PYMNTS

APRIL 16, 2020

Businesses are doing their part by having employees work from home, but some companies are struggling to keep operations secure as opportunistic fraudsters aim to take advantage of the pandemic’s disruption. Bad actors are increasingly trying to exploit confusions as companies transition to remote operations.

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Security Fraud Tools Survey 130

PYMNTS

OCTOBER 15, 2020

The world saw this during the 2008-09 financial crisis, he pointed out, when fraud attempts doubled and, in some cases, tripled. And not only do hard times stimulate fraud, but they also create financial vulnerability among consumers.

Company 243

Company Fraud Compliance Course 243

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

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Conference Payments Fraud Data 195

Cisco

JULY 26, 2022

One day, will we reminisce about brick and mortar financial services companies being replaced by digital-first financial services companies like Alipay, Block, Grab, Klarna and Paypal? Secure the brand. Each of those present a different risk and unique security requirements. The challenge is the existing infrastructure.

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Security Operations Leadership Data 158

PYMNTS

DECEMBER 23, 2019

SWIFT’s decision to open up the registry also reflects the growing threat of fraud in corporate payments. Below, PYMNTS explores the latest cases of business payments and financial fraud bogging down businesses large and small this holiday season. Canada, Mexico, Sweden, Australia and South Africa.

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Fraud Maryland Payments New York 131

PYMNTS

JANUARY 25, 2019

PSD2 may have a greater effect on payments, even outside the EU, as consumers all over the globe are clamoring for more data security. Meanwhile, to help along some of the companies that are still confused about how to comply with GDPR and PSD2, the European Data Protection Board (EDPB) has issued regulatory guidance on the topic.

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PYMNTS

JULY 31, 2020

Twitter continues to inform users about its investigation into a massive security breach two weeks ago when hackers seized control of the celebrity accounts of Joe Biden, Kim Kardashian, Bill Gates and dozens of other A-listers. The company followed up with a tweet. “By The scammers made off with about $100,000.

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Security San Francisco Missouri Tools 212

Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." Yet 30% of financial services leaders ban the use of generative AI tools within their companies, according to a recent survey by American Banker publisher Arizent. That’s equivalent to 9% to 15% of operating profits, the report notes.

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Examples Fraud Resources Risk Management 221