South State Correspondent
OCTOBER 25, 2023
The banking industry, pushed by the events of 9/11, moved to check imaging by the Check 21 Act in 2003. In addition to the logistics of check clearing and the availability of fraud, settlement is no easy feat. As of the end of last year, Banks paid about $4 in labor per check and about $6 in fraud costs.
PYMNTS
FEBRUARY 10, 2017
While they can’t be used to create a chip-based card, they allow enough data to be passed to create dummy magnetic cards that can then be used to perpetrate fraud. Identity Fraud On The Rise. Despite efforts by the industry, fraudsters successfully adapted to net 2 million more victims in 2016. A large chunk of U.S.
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PYMNTS
JUNE 3, 2020
MercadoLibre is an eCommerce platform similar to Amazon , with its own payments infrastructure that has grown into credit, mobile payments and asset management capabilities. It launched as the eCommerce industry took off in 2003, and has seen a surge in usage with the pandemic. Thus, fighting fraud is one of Gimenez’s priorities. “In
NCR
JULY 28, 2017
The ongoing development of digital technology has created unprecedented choice and freedom for consumers in how they manage their financial affairs. Research has shown that fraud has become a bigger threat as consumers and businesses have moved more of their financial processes into the digital space. An escalating threat.
PYMNTS
SEPTEMBER 6, 2016
The new initiative is an upgrade from the older versions of ACI’s solutions, as EBH and ACI have been working together since 2003. In addition to the added payment options, EBH will calculate interchange fees using ACI Interchange, a central monetary transaction manager, as well as ACI Proactive Risk Manager, which manages fraud.
PYMNTS
FEBRUARY 22, 2019
News comes this week from Mississippi that state workers are being targeted by similar fraud attempts. In news a bit closer to home, AG Web reported that, in Minnesota, Jerome Robert Hennessey pleaded guilty to one count of mail fraud. He had been accused of stealing $5.3
PYMNTS
OCTOBER 26, 2018
The Securities Exchange Act of 1934 requires companies to develop internal accounting controls that mandate that transactions are done only with management’s “general or specific authorization.”. The South China Morning Post reports that the SFC has set up a form online through a page titled “Reporting corporate fraud and market misconduct.”
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