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
JUNE 3, 2020
It now operates in 18 countries in Latin America. It launched as the eCommerce industry took off in 2003, and has seen a surge in usage with the pandemic. That means anti-fraud measures have 18 different varieties, as do other financial regulations. Thus, fighting fraud is one of Gimenez’s priorities. “In
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CFPB Monitor
MARCH 10, 2022
In a related development, the Treasury Department announced that the Financial Literacy and Education Commission (FLEC) “would form a new subgroup on digital asset financial education, which will operate alongside the FLEC’s current workstream analyzing the impact of climate change on household and community financial resilience.
PYMNTS
OCTOBER 26, 2018
That comes in the wake of BEC scams that are growing as a threat to companies of all sizes and industries as they conduct B2B operations. Cyber frauds are a pervasive, significant and growing threat to all companies, including our public companies,” said SEC Chairman Jay Clayton at the time the report debuted.
PYMNTS
JUNE 6, 2019
Specifically, the warning pointed to BlueKeep , a vulnerability in the Remote Desktop Protocol (RDP) that is present in Windows 7, Windows XP, Server 2003 and 2008. As a result, the NSA is urging everyone to know their networks, and run supported operating systems with the latest patches. ”
CB Insights
APRIL 11, 2019
Theranos, the blood-testing company once valued over $9B, ceased operations late last year — after a whirlwind of events which led to its very public shut down. Among fraud allegations and conspiracy charges, Elizabeth Holmes’ company went from one of Silicon Valley’s hottest names to a spectacular failure virtually overnight.
PYMNTS
JULY 12, 2019
Smartphones are currently unable to store government-issued IDs like passports or drivers licenses due to the extensive cryptography necessary to prevent fraud. The city-state of Singapore has long been at the forefront of digital identity, first introducing its SingPass national ID card in 2003. Governmental Mobile ID Initiatives.
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