PYMNTS

APRIL 6, 2016

The pair charged — Ross McLellan and Edward Pennings — face a five-count indictment, touching on conspiring to commit securities fraud and wire fraud and also two counts apiece of securities and wire fraud. The indictment itself alleges that the two — during a timeframe that stretched between Feb. 2010 and Sept.

Fraud 100

Fraud Massachusetts Boston Security 100

PYMNTS

SEPTEMBER 9, 2016

With the Same Day ACH rollout coming in just two weeks and other faster payments initiatives taking off, financial institutions are taking significant steps to ensure the transition to a faster processing environment, including improving their payment security platforms to keep fraudsters at bay. The Mountain View, Calif.-based

Fraud 100

Fraud Analytics Data Payments 100

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. That’s according to the U.S.

cryptocurrency 206

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PYMNTS

OCTOBER 23, 2018

“The misconduct at Wells Fargo was widespread across the bank and at every level of management – impacting both customers and investors who were misled,” Attorney General Barbara D. Furthermore, Wells Fargo’s Board of Directors received reports detailing the misconduct as early as 2011, but failed to report it to investors.

New York 139

New York Fraud Community Bank Strategy 139

PYMNTS

NOVEMBER 10, 2016

The emails , which were reviewed by WSJ , showed that top executives, including CEO at the time Tom Albanese, signed off on the payments to the consultant in 2011. The consultant, François de Combret, is a former Lazard Frères managing director who was close to senior government officials in Guinea, the paper reported.

Payments 115

Payments Fraud Security Groups 115

FICO

DECEMBER 3, 2018

In this continuation of my recent video interview with Jesse Gossman , — a police detective in South Florida, Certified Fraud Examiner, and president of the counter-fraud consulting group Bottom Line Fraud — we discuss how synthetic identity fraud is perpetrated, how the synthetic identities are created, and why they look so real.

Fraud 40

Fraud Video Case Study United States 40

FICO

JUNE 15, 2021

All too often, elders today are the targets of residential real estate fraud and scams. Have frequent conversations and be supportive; ask your elder to never sign anything or give any personal information, such as a Social Security number or credit card numbers, without calling a family member first. Banks play an important role.

Fraud 98

Fraud Capital Marketing Analysis 98

NCR

NOVEMBER 9, 2016

With the Consumer Financial Protection Bureau (CFPB) raising concerns that banking customers in the US “continue to experience problems managing their accounts”, it seems that many financial institutions could benefit from refocusing their efforts on delivering the services people want. The extent of the problem.

Management 102

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Banking 2020

NOVEMBER 24, 2015

First the good news – banks in Britain stopped nearly £1 billion in attempted fraud in the first six months of 2015. Banks prevented £7 in every £10 of attempted fraud, according to Financial Fraud Action (FFA) UK, which reports that losses on payment cards, online and telephone banking and cheques totalled £325.3

Fraud 40

Fraud Cards Cyber Security System 40

FICO

AUGUST 12, 2019

Child identity fraud is an alarmingly large and growing problem. . A 2018 report released by Javelin Strategy & Research found that more than one million children were victims of identity fraud in 2017. As I’ve blogged about previously, synthetic identity fraud is rampant , and fraudsters are growing ever-more sophisticated.

Fraud 40

Fraud How To Resources Report 40

PYMNTS

DECEMBER 24, 2019

In a recent series of attacks, security researchers claim they have found indications that a hacking group linked to the Chinese government has been going around two-factor authentication (2FA). The primary targets of the group were managed service providers (MSPs) and government entities.

Groups 132

Groups Analysis Report Operations 132

PYMNTS

SEPTEMBER 29, 2016

Which is why online retailers are increasingly turning to companies like Shape Security , a Mountain View, California-based provider of web and mobile security applications founded in 2011, to counter ever-increasingly sophisticated types of cyberattacks. billion in fraud losses. billion in fraud losses. “We

Online 100

Online Security Fraud Retail 100

PYMNTS

MARCH 5, 2019

The investigation is centered on Russian investment bank Troika Dialog, with evidence showing that managers funneled money for more than eight years, starting in 2004. He added that he had no knowledge that Troika companies received funds related to fraud. According to The Guardian , investigators found 1.3 billion ($4.6

Company 129

Company Fraud Compliance Regulation 129

FICO

FEBRUARY 16, 2021

In June 2020, the US Social Security Administration (SSA) launched their electronic consent-based verification service (eCBSV). The eCBSV is an electronic service that offers registered members, such as banks, the ability to confirm the social security number of their customers, with the customers consent. LizLasher@fico.com.

Fraud 52

Fraud Security National Examples 52

PYMNTS

MAY 16, 2018

Controls are everything in business and in data security. Against that backdrop, SOC 2 — shorthand for Service Organization Control, originating from 2011 — is gaining in popularity, according to Flywire chief information security officer Barbara Cousins.

Security 116

Security Data Policies Compliance 116

Abrigo

FEBRUARY 25, 2022

The current guidance for FinCrime models was written in 2011 and meant for credit and market risk. If your BSA officer does not have the authority to make final decisions on regulatory policies, urge your senior management and board to grant them more decision-making power. This month, the U.S. Learn more about BSA/AML trends.

Regulation 195

Regulation Policies Compliance Washington 195

PYMNTS

AUGUST 12, 2019

The latest Subscription Commerce Tracker explores how subscription-based businesses are adapting to an ever-changing market, and how they keep their payments experience secure and how new models are emerging to stay competitive. What Security Means For Subscriptions. resulting in 60 million total domestic subscribers.

Retail 118

Retail Video Security Software 118

PYMNTS

APRIL 18, 2019

An internal investigation at Deutsche Bank has found that it processed at least €175 million (nearly $197 million USD) in dirty money for Russian criminals between 2011 and 2014. As a result of the findings, the financial institution (FI) is reportedly preparing for potential fines, litigation and prosecution of individual managers.

Regional 155

Regional Regulation Payments Management 155

PYMNTS

JANUARY 19, 2017

Securities and Exchange Commission. In April, prosecutors announced they had indicted two former executives at State Street: Ross McLellan, a former executive vice president, and Edward Pennings, a former senior managing director in the bank’s London office. Under the terms of the settlement, State Street agreed to pay $32.3

Boston 100

Boston Compliance Security Management 100

PYMNTS

JULY 27, 2017

Since 2011, the 38-year-old has been running a criminal organization which administers one of the most important websites of electronic crime in the world.”. Reuters cited police as saying $4 billion or more in virtual currency had been laundered through the platform since 2011, which was the year it was founded.

cryptocurrency 100

cryptocurrency Bitcoin National Operations 100

FICO

SEPTEMBER 29, 2022

It’s a route to ensuring they consistently design digital offers around the customer to continually create trust, security, and far better experiences. It drives a ‘just-in-time’ mindset towards delivering greater security with real-time, fully risk-aware and pinpoint-perfect customer acquisition offers.

Analytics 52

Analytics Data Risk Management Customer Experience 52

PYMNTS

JUNE 3, 2016

These days, retail merchants must reach customers, both in-store and online, securely and conveniently. Now that merchants are more responsible for fraud that happens in their stores, he said, “it’s our responsibility to teach them about these tools, like EMV, that can secure them and secure their businesses.

Retail 100

Retail Apple Fraud Online 100

Banking 2020

NOVEMBER 28, 2015

As the US comes out of its first post-EMV liability shift months, it’s worth looking at how chip cards have evolved over the years to improve security and how lessons learnt in other countries have made smart cards more secure than ever. These were card-present frauds that managed to nullify the PIN. CDA explained.

Fraud 40

Fraud Cards Security Analysis 40

Jeff For Banks

MARCH 20, 2016

billion in equity capital since its founding in 2011. Since 2011, SoFi has funded over $6 billion in loans (through December 15, 2015). SoFi started in 2011, so the tide has not yet gone out on them. How good is their system compared to FICO, or other FinTechs that feel they are more evolved in credit risk management?

Virginia 60

Virginia Risk Management Capital Comparison 60

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. lending marketplace.

Lending 135

Lending Fraud Management San Francisco 135

Fintech Labs Insights

APRIL 12, 2024

I’m taking suggestions here (so far: crypto, BNPL, earned-wage access, chatbots, deposit networks).

Innovation 15

Innovation Fintech Online Mobile 15

PYMNTS

FEBRUARY 28, 2018

Their identities were hidden behind a series of offshore management firms based in the Marshall Islands and the Seychelles,” paper noted. Danske Bank has, in the past, acknowledged illegal transactions at its Estonian branch in 2011-2014. “As As we have previously said, on the basis of what we know now, we should have done this faster.

Leadership 113

Leadership Report Regulation Groups 113

PYMNTS

JUNE 6, 2016

“We announced the liability shift four-plus years in advance of the date in August 2011, knowing that much of the rest of the world had already invested in chip technology and that there were quite a few suppliers that had chip technology in their terminals and also chip capable card technology available,” she said.”

Fraud 100

Fraud Cards Technology Data 100

Accenture

AUGUST 29, 2019

You could probably take your doorbell a step further and install a chatbot or AI to manage your doorbell, meaning you wouldn’t even have to talk to the delivery drivers,” I suggested, but Amy paused for a moment, with a concerned expression on her face before continuing, “You know, ehmmm …I don’t know. Yes, nice use of technology but….

Strategy 150

Strategy Study Training Technology 150

Javelin Strategy & Research

NOVEMBER 10, 2015

As a result, these recent conflicts over the security of data could be the long-needed catalyst for an industry solution. If that happens, it actually would result in more sharing and easier access to data – and empower customers to do manage their money more effectively and wisely. They need it for wealth management.

Data 40

Data Security Management Regional 40

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. Stripe Connect and billing services help companies manage marketplaces, subscriptions. Stripe Billing optimizes subscription and invoice management. Source: Finix.

Online 98

Online Company Retail Payments 98

PYMNTS

APRIL 25, 2016

Fraud is moving en masse online , though, as in-store methods are getting harder and crooks look to find the weakest link. According to the PYMNTS/Forter Global Fraud Attack Index , online fraud attacks have jumped by 11 percent since the shift in the U.S. Overall, year over year, online fraud attacks have spiked 215 percent.

Lending 100

Lending Mobile Cards Fraud 100

PYMNTS

APRIL 30, 2018

trillion; on security-related hardware, software and services at 10 percent a year from a 2018 base of $91.4 IBM’s management team described its blockchain developer toolkit as another way to make it easier for innovators to “stand up” blockchain networks. A month later, a new management team was put in place to rebuild the business.

Fintech 183

Fintech blockchain Lending Digital Banking 183

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

FluentBanking

APRIL 18, 2020

Such limits may be attained in two to three years (2010, 2011 and 2012, respectively) after making the course contents, reading materials, library facilities and coaching facilities available to the candidates.

Regulation 52

Regulation Case Study Security Management 52

Fintech Labs Insights

APRIL 22, 2016

Fraud protection company Featurespace uses behavioral analytics to catch new fraud attacks as they happen to better protect financial services companies and their clients. Featurespace showed its ARIC fraud manager at FinovateEurope 2016 in London. This eliminates the need to export batch data to test updates.

Fraud 12

Fraud Analytics System Customer Experience 12

PYMNTS

JULY 25, 2019

In a recent interview with PYMNTS, Hunter’s Hydrawise product manager, Anthony Long, explained how the system functions while keeping its smart home network secure. Programmable sprinkler systems have been around for decades, but they can be inefficient without proper management. Securing the network.

Security 117

Security System Software Examples 117