Abrigo

MAY 12, 2022

Protect your financial institution from cybercrime With cybercrime constantly evolving, what can businesses and financial institutions do to prevent fraud? Cybercrime is a threat to businesses and institutions of all sizes and is at the forefront of the minds of those in the fraud prevention field. These measures can help.

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PYMNTS

AUGUST 11, 2020

Idaho-based Kount has released a new product aimed at preventing insurance fraud as the industry increasingly turns to digital, and even mobile, setups. Kount’s products help “insurance companies identify visitors, manage leads, and determine who is shopping for a quote.”. In a Tuesday (Aug.

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PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. ATMs are common avenues for fraud, however, especially those that are running outdated software. billion by 2024. About The Tracker.

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Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." WATCH Takeaway 1 Understanding generative AI and how peers are using AI and genAI helps financial institution leaders and management vet the technology and related risks. This short be 2 lines max.

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PYMNTS

APRIL 5, 2019

Dozens of cybercriminal groups have found a home on Facebook , using the platform’s online marketplace to sell illegal services such as stolen credit card information, as well as account theft and spamming tools, according to Cisco Systems’ Talos security unit.

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PYMNTS

AUGUST 19, 2019

Ransomware groups tend to target people in the Anglosphere, who are seen as able to pay and deserving of what they get. The threat actors realized they can amplify their impact by targeting specific companies such as managed service providers,” said Bennett. Fraud that was in turn prevented by the unit amounted to as much as $8.2

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FICO

JUNE 23, 2022

The Role of Data in Managing Fraud and Financial Crime Today. Here are the highlights from the fraud management data discussion I had at FICO World 2022 with Julie Conroy, Head of Risk Insights and Advisory at Aite-Novarica Group. How Did the Pandemic Change Fraud? Tue, 07/02/2019 - 02:45. by TJ Horan.

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Insights on Business

NOVEMBER 1, 2018

Enterprise Fraud Management is being reinvented. Assessing revolutionary risk and compliance management solutions with outdated factors and antiquated perspectives may prevent you from seeing the bigger picture. The faster a financial institution can do this, the better it can adapt to new fraud patterns.

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PYMNTS

APRIL 28, 2020

CIT Group will add a new level of B2B payment functionality to the software from workflow solutions provider Fintainium , aiming to make accounts payable (AP) and accounts receivable (AR) functions easier on small- and medium-sized businesses (SMBs) amid the coronavirus pandemic, according to a press release.

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PYMNTS

JANUARY 28, 2020

Coupon fraud is particularly dangerous for the restaurant industry, where margins are razor-thin and any profit decline could spell disaster. What Is Coupon Fraud? Fraudsters exact coupon fraud in various ways. Coupon fraud costs U.S. There is a distinct difference between extreme couponing and coupon fraud, though.

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Perficient

FEBRUARY 10, 2021

On January 21, 2021, Kirsten Lemke from Kyriba and I were guest presenters at TMANY (Treasury Management Association of New York) for a lunch and learn. We are grateful for the opportunity to speak to this group and would like to share the questions and corresponding answers as part of a series of blogs. Any that are more problematic?

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PYMNTS

DECEMBER 22, 2019

To regain trust following an independent review that deemed its compensation plan to not be “fair and reasonable,” and which had to be redetermined, Lloyds Banking Group is to make a special £35,000 ($45,547.60 USD) payout to 191 fraud victims.

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Abrigo

FEBRUARY 15, 2023

When developing a risk assessment, institutions can treat the AML/CFT priorities as stand-alone risk factors or group them together. Fraud - Fraud is believed to be the largest generator of proceeds for criminals in the U.S. The most common types of fraud include bank fraud, consumer, health care, securities, and tax fraud.

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PYMNTS

FEBRUARY 19, 2019

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. That sort of fraud prevention spends 100 percent of the time on that one aspect of fraud, he noted.

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PYMNTS

MARCH 19, 2018

These tactics cast a wide net of fraud over the fleet card industry – from issuers and acquirers to fleet managers, employers and employees themselves. Goldspink recently told PYMNTS that fleet card-related fraud goes far beyond skimmers at the POS.

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PYMNTS

NOVEMBER 5, 2019

While there is little good to be said about criminal fraudsters who plague merchants by stealing credentials to snag goods with absolutely no intention of ever paying for them, they at least have the merit of being a fairly homogeneous group in terms of intention. Fraud is their profession. These types of fraud aren’t rare one-offs.

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PYMNTS

JULY 6, 2017

With the speed of payments accelerating and Same Day ACH initiatives continuing to roll out, NACHA has pulled together a group of industry experts to explore API standardization as a way to facilitate faster payment speeds and greater transaction security, among other use cases.

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PYMNTS

NOVEMBER 22, 2019

Stolen payment information used to purchase an iPhone is one thing, but a fraudster dangling a fake beachfront property in front of a group of traveling executives is another. business travelers who often have more robust needs, like satisfying larger groups. The wider home rental space has been seeing increased fraud in recent years.

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TheGuardian

NOVEMBER 8, 2022

Less verification for someone to set up fraudulent shell firm than to borrow a library book, risk managers say The anti-fraud leader at the trade body UK Finance has said the government needs to fix the “dysfunctional” Companies House because it is helping to facilitate business fraud.

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PYMNTS

FEBRUARY 23, 2020

There was such a demand for the classes that Emmanuel Babalola, Binance’s Nigerian business manager, said it’ll hold further classes. There are roughly 4,000 traders in Binance’s Nigerian Telegram group. This is in addition to charges of bank fraud, an unlicensed money transfer operation and conspiracy.

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PYMNTS

DECEMBER 21, 2020

with money laundering, fraudulent banking and computer fraud, Reuters reported. “It Using the platform, VTB issued a guarantee for a payment of 392 million rubles ($5 million USD) to telecommunications group MTS PJSC last Wednesday (Dec. They allege that F.F. 16), in the first blockchain-supported bank guarantee in Russia.

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blockchain Bitcoin Fraud Report 206

FICO

JULY 5, 2023

billion, according to CFCA’s 2021 Fraud Loss Survey Report. Subscription fraud can be a symptom of or gateway to other frauds. But subscription fraud also continues in traditional ways, like those who subscribe with no intent to pay, and those who seek to acquire incentivized devices falsely just to sell them online at a profit.

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FICO

JUNE 4, 2020

As I discussed in my last post, the convergence of fraud and financial crime management is finally reaching a tipping point. While many are under the assumption that financial institutions need to fully integrate fraud and AML teams to realize the benefits, they don’t have to fully merge.

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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. JD.com, Suning.com Spark Concerns. Noah, however, claims that it had verified all documentation with JD.com.

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PYMNTS

MAY 31, 2019

A cybersecurity research team at vpnMentor has discovered that The Pyramid Hotel Group, which manages Marriott and other hotel brands, underwent a data leak exposing vulnerabilities that could potentially be used by criminals, the company said in a report. The company said it contacted the hotel group about the breach.

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Abrigo

JANUARY 3, 2024

The final rule includes requirements for disclosing information about beneficial ownership to financial institutions and other specific groups. Financial institutions will be the last group to gain access, and the timeline is undetermined. Stay up to date on AML/CFT and fraud trends with more professional development.

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PYMNTS

NOVEMBER 12, 2019

PULSE , the debit/ATM network that operates as a Discover Financial Services company, said in a press release that it has adopted the FICO Falcon Platform to bring new fraud detection services to its network of more than 4,100 debit issuers. The FICO platform serves as the foundation of the DebitProtect fraud detection service, said PULSE.

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Fraud Study ATM Training 101

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. In August 2022, we commissioned a survey of 156 global executives and managers from retail banks and retail financial institutions.

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Abrigo

JANUARY 30, 2024

Speakers at Abrigo’s ThinkBIG conference will: Spotlight current challenges facing banking professionals Provide industry best practices to drive growth and manage risk Offer advice on regulatory compliance. The Fighting Financial Crime track will focus on BSA compliance, anti-money-laundering (AML), and fraud detection topics.

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FICO

JANUARY 25, 2021

Customer identity management is a term that is subject to a number of definitions. The goal of CIM is to meet regulatory rules and legislation, prevent fraud and financial crime, and manage risk—all while making it simple for customers to transact. Customer identity management operates today in an unpredictable environment.

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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

FEBRUARY 6, 2019

Cloud software company Blackbaud is rolling out purchasing cards and expense management services for its corporate customers, the company said Tuesday (Feb. Blackbaud Purchase Cards are designed for “social good organizations” to digitize their accounts payable processes and enhance spend management for employees.

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PYMNTS

OCTOBER 29, 2018

29) by Kaspersky Labs and the University of Oxford Functional Neurosurgery Group noted, the technology is quickly gaining ground. For instance, “memory implants are a real and exciting prospect, offering significant healthcare benefits,” added Laurie Pycroft, doctoral researcher in the University of Oxford functional neurosurgery group.

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PYMNTS

APRIL 29, 2019

Indianapolis-based freight trucking company Celadon Group has agreed to pay its investors $42.2 In addition, some of the company’s quality-management executives allegedly lied to independent auditors in early 2017. million after filing false financial statements and lying to auditors. In addition, Celadon also agreed to a $7.5

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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

AUGUST 5, 2019

International Business Machines Corp (IBM) and blockchain consultancy Chainyard have announced a new blockchain network for supply chain management designed to improve supplier validation, onboarding and life cycle information management, IBM said in a press release on Aug. 5 (Monday).

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PYMNTS

DECEMBER 6, 2018

Such a scenario stands as a terrifying example of not only the sophistication of criminals, but also the threat of fraud in a real-time payments environment. As Plesco pointed out, criminals have managed to steal credit bureau data, giving fraudsters an in when it comes to such theft. That doesn’t mean all is hopeless, of course.

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