PYMNTS

SEPTEMBER 30, 2016

Fraudsters have been causing problems for retailers over the past four quarters, leading to a 137 percent jump in fraud attacks and affecting $7 out of every $100 made in retail sales, according to the latest PYMNTS.com Global Fraud Attack Index. The collaborative study with Forter measures the rate of fraud attempts made on U.S.

Fraud 100

Fraud Data Cyber Security Study 100

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. So, I think there’s a real kind of threat emerging right now.”.

Company 243

Company Fraud Compliance Course 243

PYMNTS

JANUARY 30, 2019

They face the challenge of offering customers a smooth onboarding process while also remaining rigorous in know your customer (KYC) efforts, taking care to remain compliant with local anti-money laundering (AML) regulations that aim to keep criminals from using legitimate operations to move money illegally. In the U.K.,

How To 170

How To blockchain Compliance Regional 170

PYMNTS

FEBRUARY 28, 2020

Securities and Exchange Commission filing. Banga has served as CEO since 2008 when he took over the reins shortly following the onset of the financial crisis. How Dropbox Fights Fraud (Digital Fraud Tracker). Securities and Exchange Commission — known as a confidential S-1 — to undertake an initial public offering (IPO).

Fraud 130

Fraud Security Data New York 130

PYMNTS

JULY 11, 2018

Falkowski was sentenced to 30 months in a federal prison for being the brains behind a $1 million fraud scam. To protect himself, he created faulty invoices to trick QVC into paying for his fraud. The fraud happened from 2008 until he was fired in 2013, noted the report. QVC former director James D.

Company 102

Company New York City Fraud Retail 102

PYMNTS

SEPTEMBER 12, 2019

The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space. Between 2008 and 2018, approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance. The Cost of Compliance.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

JUNE 6, 2019

The National Security Agency (NSA) has released an advisory, urging Microsoft Windows administrators and users to make sure they are using a patched and updated system to stay protected against cyber threats. As a result, the NSA is urging everyone to know their networks, and run supported operating systems with the latest patches.

System 101

System Security Software National 101

PYMNTS

NOVEMBER 20, 2018

in an effort to win contracts to engage in currency exchange operations for the government. Based on the indictment, the Justice Department contends that between 2008 and 2017 Gorrin was behind more than $150 million in bribes to officials in Venezuela’s treasury to gain the right to take part in currency deals.

Florida 161

Florida Texas Operations Report 161

Insights on Business

SEPTEMBER 12, 2018

If there is fraud on your account, your financial institution will make you whole, as long as you were not negligent and make them aware of the incident in a reasonable time frame. It’s easy to think that, since so many countries have already taken the faster payment plunge , the upcoming US initiative would be a smoother operation.

Payments 96

Payments Las Vegas Los Angeles Fraud 96

PYMNTS

MARCH 6, 2019

Dutch prosecutors are investigating whether banks in the country were part of a huge money laundering operation in Russia, according to a report by Reuters. ABN AMRO said it wasn’t involved in the Troika scandal because the branch named was sold to Royal Bank of Scotland in 2008. “We

Report 128

Report Regulation Groups Operations 128

PYMNTS

JULY 2, 2019

The 2008 global financial crisis forced traditional banks to pull back from small businesses (SMBs) considered too risky and unprofitable to finance, leaving a gap in the market for alternative lenders and FinTech firms to fill.

Fintech 125

Fintech Resources Capital Trends 125

Insights on Business

SEPTEMBER 12, 2018

If there is fraud on your account, your financial institution will make you whole, as long as you were not negligent and make them aware of the incident in a reasonable time frame. It’s easy to think that, since so many countries have already taken the faster payment plunge , the upcoming US initiative would be a smoother operation.

Payments 70

Payments Las Vegas Los Angeles Fraud 70

PYMNTS

MARCH 5, 2018

According to the AP, the Institute for Religious Works reported that Caloia and Luizzo were charged with embezzlement and self-laundering between 2001 and 2008. Their trial is slated to begin on March 15, reported the news service, noting that a third suspect passed away while being investigated.

Taxes 101

Taxes Report Operations Marketing 101

PYMNTS

OCTOBER 1, 2018

Both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have officially ended a two-year investigation of LendingClub, its subsidiary LC Advisors (LCA), its founder and former CEO Renaud Laplanche and its former CFO Carrie Dolan. On Friday (Sept. The SEC Finding. So, Now What?

Lending 135

Lending Fraud Management San Francisco 135

Tomorrow's Transactions

AUGUST 21, 2016

Following the success of Transport for London’s (TfL) Contactless Payments program, a project Consult Hyperion have contributed to since 2008, transportation agencies around the world are following TfL’s lead looking to bring the same convenience to their own customers. However, this ‘online-only’ option is not suitable for transit operators.

Operations 30

Operations Cards US Payments 30

Tomorrow's Transactions

JULY 26, 2016

Earlier in the week I blogged about mobile banking security , and I said that in design terms it is best to assume that the internet is in the hands of your enemies. Anyway, the point is that the internet isn’t secure. I saw Charles Brookson, the head of the GSMA security group, make a very interesting point recently.

Security 30

Security Guidelines Samsung Mobile 30

PYMNTS

MAY 29, 2020

How are CUs utilizing videoconferencing capabilities on interactive teller machines (ITMs) to maintain their branch operations during the pandemic, and how is biometric technology helping them offer more secure, quicker and touchless ATM services? Consumers expect secure and fast access to digital tools.

Maine 130

Maine ATM Innovation Millennials 130

BankUnderground

JUNE 25, 2020

First, global financial services firms maintain central hubs for storing and analysing data generated by their cross-country operations. They maintain data centres in these hubs in order to store and process it in a consistent and secure way, and have it analysed by specialist teams. 15 of this report ).

Data 108

Data Big Data Regulation Risk Management 108

PYMNTS

JULY 28, 2016

According to the OECD (Organization for Economic Co-Operation And Development) the value of the international counterfeit good market was around $250 billion in 2007. The more pessimistic International Chamber of Commerce clocked that figure in at $650 billion in 2008 — and estimated that by 2015 that value would have swelled to $1.7

New York 100

New York National Groups System 100

FICO

JUNE 22, 2017

At the time, Madoff had been running an elaborate Ponzi scheme through the wealth management arm of his business that reached $65 million by the time of his arrest in 2008, deliberately hiding the money intricately within the financial system.

Tools 55

Tools Compliance Innovation social media 55

CB Insights

MAY 23, 2019

Below, we take a look at some of these frauds and the lessons they can teach entrepreneurs hoping to launch their own products, companies, and funds. Mozido’s fintech fraud fiasco. Virgin Hyperloop One’s utopian vision derailed by fraud. Some companies just push their luck a little too far. Total Funding: $1.1B.

Fraud 78

Fraud Las Vegas Company Video 78

CB Insights

FEBRUARY 13, 2020

These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. Fraud prevention tools. Sigma aims to streamline business operations. Additionally, the company must underwrite risk, and is on the hook in the event of fraud or returned items.

Online 98

Online Company Retail Payments 98

Jeff For Banks

DECEMBER 12, 2015

If a bank deems a vendor critical to its operation, it must analyze the vendor's financial statements to be confident in its viability. But among robo advisors, Betterment is emerging as the top FinTech (eight) startup, having opened it's virtual doors in 2008. Perhaps I should have mentioned blockchain.

Fintech 60

Fintech Capital Cards Bitcoin 60

Abrigo

DECEMBER 19, 2019

In 2008, there were 7,061 FDIC-insured commercial banks in the U.S. Mergers become a more viable option for smaller banks struggling to secure more deposits. Fraud Prevention. Fraud Trends. Fraud Prevention. Fraud Prevention. Attain growth through M&A, new partners. Look to expand your digital footprint.

Lending 195

Lending Fraud Community FDIC 195

CB Insights

OCTOBER 26, 2020

While the rules against prop trading have more recently been loosened, the restriction has still changed how investment banks operate. Even as the regulation pendulum swings back toward more limited oversight, how investment banks operate is fundamentally changing. Table of contents. The disruption of the IPO.

Management 78

Management Capital Company Marketing 78

PYMNTS

OCTOBER 6, 2018

The original Bling Ring was a group of mostly of young women from upper-middle class California suburbs who between October of 2008 and August of 2009 collectively stole more than $3 million in jewelry and high-end designer goods from people like Paris Hilton, Lindsay Lohan, Rachel Bilson and Megan Fox, among others.

Los Angeles 148

Los Angeles social media Trends Report 148

William Mills

MAY 11, 2016

Diana Chin (HR & Operations). It’s all done through the smartphone, with bank-level security. Chip card reader for when customers are shopping online to improve security. Customers can store all of their online profiles in one secure location to improve user experience. Adds in Social security. Virtual reality?

Video 40

Video Mobile social media Analytics 40

William Mills

MAY 11, 2016

01:08 pm NuData Security – @NuDataSecurity – [link]. Formed in 2008; is the connection to a web site a human or a bot? This is a very sophisticated fraud detection technology! ^SR. Silver 6 operates as Software as a Service (SaaS), so that means no IT and no infrastructure required. ^SR. This is great.

Video 40

Video Lending social media Analytics 40

CB Insights

JUNE 6, 2019

But what Solyndra’s investors and the government didn’t see — or didn’t understand the importance of — was that the price of polysilicon was on the decline as early as 2008. In January 2019, Munchery abruptly ceased all operations, as it informed customers via email. By December 2011, it was under $30/kg.

Apple 78

Apple Branding Google Company 78

PYMNTS

SEPTEMBER 18, 2017

has strongly hinted that the agency she birthed in 2008 and opened for business in 2011 — the Consumer Financial Protection Bureau (CFPB) — should be given the authority to do even more. Senator Elizabeth Warren (D – Mass.)

Report 202

Report Regulation Data Retail 202

FICO

JANUARY 18, 2023

Ideally, minimal operational effort is spent on customers that are likely going to pay, so that expensive debt collection resources can be focused on those customers where agent intervention makes a difference. Such cases might include employees, deceased customers, fraud, first-payment defaulters or customers without valid contact data.

Strategy 52

Strategy Analytics Data Resources 52

FICO

APRIL 17, 2021

Computer systems are not yet ready for operational use (though the IBM® 7090 is the butt of multiple jabs throughout the movie). Margin Call is based on the 2007-2008 financial crisis. In the film, volatility levels in mortgage-backed securities are exceeding historical levels. (Chernin Entertainment). The Weinstein Company).

Data 139

Data Analytics Management Meeting 139

CB Insights

MARCH 6, 2019

Companies across industries from food delivery to mobile payments disintegrate for all kinds of reasons, from technology errors and logistical challenges to overspending and outright fraud. That July, it banned Holmes from owning or operating a lab for two years. Table of Contents. Powa Technologies. The rise and fall of Theranos.

Report 78

Report San Francisco Capital New York 78

Gonzobanker

DECEMBER 19, 2022

In December, the founder and CEO of Crypto Exchange company FTX was arrested in the Bahamas (yah, don’t ask) and charged with fraud and conspiracy. 2008 called and wants its headlines back. This was a year when executives witnessed first-hand how a failed digital conversion impacts strategic, reputation, and operational risk.

Community 216

Community Fintech Industry Innovation 216

CB Insights

NOVEMBER 9, 2017

And then there were some uncommon and more dramatic causes of failure, including: Financial fraud. Australian music streaming company Guvera has reportedly stopped operating, with its co-founder and biggest financial backer walking away from the project. A most-wanted founder. via Business Insider. Company: ChaCha. via Fortune.

Capital 78

Capital Company San Francisco Operations 78

CB Insights

OCTOBER 4, 2018

This summer, Reuters reported that in 5 years, tech services (including online risk management and fraud prevention for financial institutions) will make up 65% of Ant’s revenue, compared to 34% in 2017. When Alipay hit 100M users by 2008, China’s transition to a smartphone-based economy was just starting to take place.

US 78

US Fintech Mobile Regulation 78

CB Insights

OCTOBER 31, 2017

more than we, Kamil Kurmakaev and I, spent since the company’s inception in 2008 till August 2014. Note: Less than a month after the closure announcement, Vasupal was arrested for fraud in a bizarre case involving Stayzilla business dealings. They have spent (in rubles) twice (!) And EVERYTHING has been lost or stolen — mostly lost.”.

Company 78

Company US San Francisco Capital 78