PYMNTS

JANUARY 20, 2020

Fraud protection techniques have advanced rapidly over the past decade to keep pace with fraudsters preying on emerging weak points. Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. Fraudsters and the Access Problem.

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Fraud Tools Security Examples 136

PYMNTS

JULY 23, 2019

China’s banking regulator is introducing stricter requirements on banks and insurance institutions that provide supply chain financial solutions in an effort to curb fraud, according to China Daily reports last week. Noah, however, claims that it had verified all documentation with JD.com. JD.com, Suning.com Spark Concerns.

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PYMNTS

OCTOBER 22, 2020

A major provider of financial technology to banks, Mitek Systems said its digital identity verification software will now incorporate near-field communication (NFC) technology as well. Mitek, a top developer of digital identity verification and mobile check deposit technology, announced on Thursday (Oct.

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Technology Comparison Security Customer Experience 134

Abrigo

AUGUST 19, 2020

Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . COVID-19-related fraud schemes are escalating at an alarming rate. How can your transaction monitoring system detect trending COVID-19 related fraud?

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PYMNTS

OCTOBER 30, 2020

Digitizing documents is key to optimizing workflows, but when it comes to the procure-to-pay space, not all digital invoices and purchase orders are created equal. The result is a lot of paper and PDF documents, which creates a slew of challenges for the procure-to-pay workflow. What It Means to Be Digital. The Opportunity in Data.

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PYMNTS

JULY 8, 2020

He and Nitendra Rajput , Mastercard’s vice president of product development and head of the company’s “AI Garage,” said that in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. “It Fighting Fraud in a Post-Pandemic World.

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Abrigo

FEBRUARY 5, 2021

You might also like this webinar: "Detecting PPP Fraud: Optimizing Your AML Solution". Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. PPP fraud-prevention challenges arise. New Guidance Out. mail, Craig said.

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Fraud Lending Taxes Regulation 195

PYMNTS

OCTOBER 21, 2019

Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry, including cases of incomplete documentation and mislabeling.

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Perficient

OCTOBER 12, 2020

Specializing in cloud-based business transformation, Perficient’s new Treasury Technology practice will improve client’s global banking footprints through bank connectivity and address concerns for payment fraud. Payment fraud is now a high-priority concern. ”

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Risk Management Fraud Management Compliance 309

PYMNTS

JUNE 24, 2020

Against a backdrop where CNP transactions are up 80 percent, a success rate of only a few percentage points can yield a lucrative fraud scheme. CNP fraud, Nolte said, has become a numbers game. It’s scalable and can be done from anywhere — and you can buy things from anywhere on the planet,” he said.

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Perficient

FEBRUARY 29, 2024

Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly. To address this, institutions are increasingly turning to technology-driven solutions aimed at enhancing service reliability, compliance, and security.

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PYMNTS

AUGUST 3, 2020

For example, fraud across all financial products in the U.K. Melissa’s ID offering breaks down into three groups — an identity verification solution, a document verification offering and a biometric authentication service. Using AI And Other Tools To Fight Fraud . It’s called ‘semantic technology,’ or ‘semtech.’”.

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Abrigo

AUGUST 27, 2020

Additionally, FinCEN has released three recent COVID-19 related fraud advisories and red flags, and a regulatory joint statement regarding customer due diligence on Politically Exposed Persons (PEPs). Tap into technology to help prevent and detect financial crime. Documentation: Thorough and complete documentation is king.

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Regulation Fraud Compliance Trends 195

Perficient

DECEMBER 14, 2023

With the onset of digital technologies, the transformation of manual tasks into automated processes is a game changer. Automated Invoice Processing, at its core, leverages technology to streamline and automate the entire invoicing workflow. Identification of invoice exceptions to prevent fraud.

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Perficient

DECEMBER 14, 2023

With the onset of digital technologies, the transformation of manual tasks into automated processes is a game changer. Automated Invoice Processing, at its core, leverages technology to streamline and automate the entire invoicing workflow. Identification of invoice exceptions to prevent fraud.

Training 221

Training Strategy Exercises Data 221

CB Insights

SEPTEMBER 27, 2021

Ocrolus , an automation platform for the analysis of financial documents, has raised $80M in a Series C round. New York-based Ocrolus’ automation platform uses OCR (optical character recognition), AI, and big data technology to classify financial documents, detect fraud, and analyze cash flows. Want the full post?

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Data New York Big Data Analysis 50

PYMNTS

JANUARY 18, 2021

These concerns regarding hiring- and onboarding-related issues superseded even technology-related worries, with roughly 16 percent of respondents pointing to problems with insufficient technological access, for example. . Forty-two percent stated that candidate approval would be a struggle. ID Verification In The Remote Age .

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Fraud Survey Training Resources 281

PYMNTS

NOVEMBER 10, 2017

For any organization with an attitude of, “It can’t happen to me,” here’s a wakeup call: Corporate fraud is common and on the rise. One of the easiest areas for internal fraud to occur is in employee expensing. But always, in every organization, there are a few who are commuting fraud. It’s a very involved process.

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Fraud Compliance Policies Technology 112

Abrigo

AUGUST 27, 2020

Additionally, FinCEN has released three recent COVID-19 related fraud advisories and red flags, and a regulatory joint statement regarding customer due diligence on Politically Exposed Persons (PEPs). Tap into technology to help prevent and detect financial crime. Documentation: Thorough and complete documentation is king.

Regulation 195

Regulation Fraud Compliance Lending 195

Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. By performing a thorough staffing assessment of your AML and fraud teams, you understand the resource needs to meet all quality and regulatory expectations. Begin with an outline of each member of your AML team.

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Training Fraud Leadership Resources 195

PYMNTS

APRIL 4, 2018

MonetaGo is rolling out India’s first blockchain network, a solution aimed at addressing the risk of fraud in the trade finance market. According to MonetaGo Chief Executive Jesse Chenard, between 1 and 2 percent of invoice financing around the globe is subject to fraud.

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blockchain Fraud Tools Report 118

Abrigo

AUGUST 18, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Embrace technology to help your department and institution successfully shift to remote work. Be aware of emerging fraud schemes. Learn more.

Fraud 195

Fraud Lending Trends Compliance 195

PYMNTS

MAY 14, 2020

The COVID-19 pandemic has triggered an uptick in digital fraud and identity theft, with 18,235 pandemic-related fraud reports received by the Federal Trade Commission (FTC) since the beginning of the year. Technology firms worldwide are working to meet the growing demand for reliable, remote and digital ID verification.

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Fraud Meeting Innovation New York 247

Abrigo

AUGUST 18, 2020

Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Embrace technology to help your department and institution successfully shift to remote work. Be aware of emerging fraud schemes. Learn more.

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Fraud Trends Compliance Technology 195

American Banker

SEPTEMBER 14, 2022

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Fraud Technology 82

Let's Talk Payments

MAY 16, 2017

Trulioo and Mitek join forces to offer a comprehensive global identity verification solution for fraud prevention and AML/KYC compliance Vancouver, B.C. – (May 15, 2017) – Trulioo, the leading global.

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Comparison Technology Compliance Fraud 69

PYMNTS

JUNE 11, 2020

Social distancing restrictions implemented to curb the virus’s spread are preventing compliance professionals from obtaining physical identification documents and holding in-person meetings that typically enforced anti-money laundering/know your customer (AML/KYC) compliance. Compliance Enforcement Goes Remote With Biometrics.

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Compliance Guidelines Meeting Tools 186

Abrigo

MAY 9, 2022

Financial crime detection and prevention are increasing in complexity for BSA/AML professionals as new technologies and challenges arise each year. The COVID-19 pandemic has substantially increased the need for fraud detection across the country, with hard dollar losses keeping financial organizations on their toes.

Compliance 195

Compliance Fraud Regulation Resources 195

PYMNTS

SEPTEMBER 25, 2019

The stage is set, then, for fraudsters to conduct their nefarious activities at scale, through synthetic ID fraud and other means. Regulations designed to combat fraud have yet to keep pace with the fraudsters themselves, noted Ritter. Asking for an ID document upfront, paired with a selfie, stands as a strong deterrent to fraudsters.

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How To Security Fraud Mobile 189

FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

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PYMNTS

APRIL 22, 2019

Meanwhile, Spanish banking group BBVA is tapping photo- and video-based document and biometric verification measures to secure its digital onboarding. How DraftKings Keeps Fraud Out of Fantasy S ports. Keeping online identity verification secure is particularly important for BBVA, which announced that a full 38 percent of its U.S.

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Fraud Security Online Video 143

PYMNTS

SEPTEMBER 17, 2020

The European Union (EU) could pass new laws that would make it mandatory for Apple to share the payments technology in its iPhones, according to a report from Bloomberg. The new laws would prevent developers from restricting access to their near-field communication (NFC) technology embedded in the phones or other devices, like smartwatches.

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Apple Payments Technology Fraud 281

Insights on Business

MAY 6, 2019

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. Unlike the latter areas, fraud prevention is an area not as heavily governed by regulations or specific rules of what a financial institution should or should not allow.

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PYMNTS

AUGUST 27, 2020

Lightico, using a secure platform, can allow businesses to "collect forms, documents, eSignatures, photos and payments, consent to disclosures and verify identities instantly via text, even while the customer is on the phone," the post stated.

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PYMNTS

JUNE 22, 2020

The company said associates with active cards will be given credit and identity theft monitoring services, courtesy of privacy technology company ID Experts. She added that the company is continuing to monitor the account, but it has not detected any increase in fraud for the accounts.

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Cards Fraud Course Report 257

PYMNTS

OCTOBER 4, 2020

Two of the rules also give a new framework for businesses, financial institutions (FIs), payment providers and technology companies to authorize consumer ACH payments, able to be applied to new channels and technologies adopted by customers to interact and buy from businesses.

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Payments Resources Technology Fraud 283

PYMNTS

SEPTEMBER 18, 2018

The federal agency said it shut down websites where consumers could buy “fake financial and other documents – such as pay stubs, income tax forms, and medical statements – which can be used to facilitate identity theft, tax fraud, and other crimes,” according to an FTC statement. Federal Trade Commission on Tuesday (Sept.

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