PYMNTS

NOVEMBER 10, 2020

New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats. Further, online sellers have been tackling chargeback fraud, which could account for about 86 percent of all chargebacks.

Security 233

Security New York Atlanta Fraud 233

Perficient

AUGUST 16, 2023

Shan Hanes, who served as the bank’s President and CEO until its closure, joined the firm in 1993 as an agricultural loan officer and Informational Technology Officer. In 2011, Hanes put together a local investment group that purchased the bank from its former holding company, and he became President and CEO of the new bank.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

AUGUST 3, 2017

Back in 2004, fraud was on the rise globally. Digital fraud was a new beast, and people didn’t know any better than to be tricked by phishing emails that today would raise red flags for even the most technologically illiterate consumers — sketchy email addresses, poor grammar and those classic sob stories from Nigerian princes, to name a few.

Fraud 123

Fraud Payments Security Data 123

PYMNTS

MARCH 17, 2017

A classic image of payment fraud involves a fraudster stealing credit card numbers and shopping for goods in-person or online. Founded in 2011, Pindrop’s security solution was built to protect banks and other financial institutions from call center and voice fraud. They let me right in,” Dewey said. at Georgia Tech.

Fraud 107

Fraud Cards Houston Retail 107

FICO

MAY 2, 2019

Fraud and data breaches have always had a close, if destructive, relationship. As the US transitioned to hard-to-counterfeit EMV payment card technology several years ago, criminals flocked to card not present (CNP) fraud , often combining identity fragments and card numbers stolen in breaches to make illicit purchases online.

Fraud 70

Fraud Data Cyber Security Risk Management 70

PYMNTS

MAY 22, 2018

Visa announced that the growing number of chip cards and chip-enabled merchants has helped bring counterfeit fraud in the U.S. payments industry to begin the shift to EMV chip cards in 2011,” the company wrote in a press release. down by 76 percent. Visa set the path for the U.S. at the time.”. More than 2.9 The data shows the U.S.

Fraud 133

Fraud Cards United States Regional 133

PYMNTS

SEPTEMBER 9, 2016

PYMNTS recently spoke with Luis Rojas, vice president of product management for Guardian Analytics , an online banking security firm, about the effect of a faster processing environment, the potential for increased fraud and how to mitigate that risk. The Mountain View, Calif.-based People are bracing for a similar spike here,” he added.

Fraud 100

Fraud Analytics Data Payments 100

PYMNTS

SEPTEMBER 24, 2020

This month’s Deep Dive explores the challenges that remittance service providers face when seeking to stay compliant, the impact this has on the availability of cross-border money transfer services and regulatory technology strategies to help reduce this friction. . Correspondent Banking . The Cost of Compliance .

Compliance 223

Compliance Tools Fraud Regulation 223

NCR

SEPTEMBER 15, 2017

After years of lagging behind many other developed nations, the US market is rolling out EMV technology. While the transition is still in process, and has in many cases been a bumpy, road to adoption, it will go a long way towards tackling some of the most common types of fraud. The shift to e-commerce CNP fraud.

Fraud 84

Fraud Cards Security US 84

FICO

NOVEMBER 12, 2019

Today’s post is about solving the elusive problem of first-party fraud and features commentary from Julie Conroy (Research Director at Aite Group) and Jack Alton (CEO at Neuro-ID). An executive who owns P&L for a consumer lending product line at a large bank was asked about first-party fraud and he compared the problem to a black hole.

Fraud 40

Fraud Resources Industry Groups 40

PYMNTS

JUNE 8, 2016

chip rollout is already having an impact on counterfeit fraud, the number one cause of in-store payment fraud today.” Just how well is the chip card migration going? Well, according to Visa : “The U.S. ” But how are the numbers stacking up? Visa’s latest data shows that, since Oct.

Cards 100

Cards Fraud Technology Data 100

PYMNTS

MARCH 14, 2019

Facebook is the subject of a criminal investigation by federal prosecutors over the data deals it inked with some of the biggest technology companies, reported The New York Times. The Federal Trade Commission and Securities and Exchange Commission are scrutinizing Facebook, as is the Department of Justice’s securities fraud unit.

New York 122

New York Data social media California 122

PYMNTS

SEPTEMBER 8, 2016

rolled out Faster Payments a few years ago, fraud spiked, as fraudsters acted quickly to take advantage of the reduced timeframe. To prepare for a potential increase in cyberattacks, industry players are looking to protect data using behavioral analytics and other fraud prevention techniques. When the U.K.

United States 100

United States Fraud Analytics Payments 100

PYMNTS

DECEMBER 15, 2016

Financeit, the Canadian financial technology company, has seen its business double ever since it acquired home improvement financing assets from TD Bank. Financeit was founded in 2011 in Toronto and aims to enable businesses to offer hassle-free payment plans, including instant credit checks and interest rates that are competitive.

Compliance 100

Compliance Fraud Financial Technology Company 100

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

CFPB Monitor

JUNE 26, 2022

It highlights new EFE typologies and potential red flags and builds upon a related advisory issued in 2011. Similarly, the Federal Trade Commission reports that older adults account for 35 percent of the victims associated with filed fraud reports when a consumer has provided an age. The Advisory is detailed. Background.

social media 78

social media Fraud Resources United States 78

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

PYMNTS

JUNE 19, 2018

CrowdStrike , the cybersecurity technology company, announced on Tuesday (June 19) that it raised $200 million in a Series E round of financing led by General Atlantic, Accel and IVP, with participation from March Capital and CapitalG.

Security 101

Security Capital National Industry 101

CFPB Monitor

MAY 12, 2021

The Fed’s final rule implementing the Durbin Amendment (Regulation II) went into effect in October 2011. It also allowed a 1 cent adjustment if the issuer implements fraud-prevention standards. . In 2014, in NACS v. Board of Governors of the Federal Reserve System , the D.C.

North Dakota 78

North Dakota Cards Regulation Fraud 78

PYMNTS

AUGUST 1, 2019

Such boxes represent a small segment of the broader subscription market, but they face the same challenges, including fraud attempts like card-and-wallet tests and account takeovers (ATOs). KiwiCo was founded in 2011 and offers seven different subscription boxes focused on different age groups or interests.

Security 108

Security Cards Fraud Survey 108

PYMNTS

APRIL 1, 2020

This then prompted the Federal Reserve to decide in 2011 to restrict interchange fees on PIN debit cards to no more than $0.21 POS systems that accept PIN-authenticated payments transmit card details to debit network operators that then assess transactions’ associated fraud risks. Online sellers could instead rely on 3D Secure 2.0

Cards 141

Cards Payments Security Fraud 141

Insights on Business

OCTOBER 31, 2019

Algo FIRST was acquired by IBM as part of the Algorithmics acquisition which took place in October 2011. Additionally, it was announced in September 2019 that the Algorithmics Financial Risk product line (where Algo FIRST originally resided) would be divested to SS&C Technologies later this year. About FIRST Risk Case Studies.

Case Study 79

Case Study Study Compliance Risk Management 79

CFPB Monitor

MARCH 4, 2019

” This development followed a 2011 advisory in which FinCEN emphasized SARs as a mechanism by which financial institutions, such as banks and money services businesses (MSBs), could combat elder financial exploitation (EFE). The study suggests a few practical steps for potential loss prevention.

Report 68

Report Data Study Fraud 68

Insights on Business

OCTOBER 31, 2019

Algo FIRST was acquired by IBM as part of the Algorithmics acquisition which took place in October 2011. Additionally, it was announced in September 2019 that the Algorithmics Financial Risk product line (where Algo FIRST originally resided) would be divested to SS&C Technologies later this year. About FIRST Risk Case Studies.

Case Study 70

Case Study Study Compliance Risk Management 70

Accenture

AUGUST 29, 2019

True story…I was walking through the office last week and bumped into a colleague from our analytics team, Amy, who is at the cutting edge of technology and always has the latest gadgets. Yes, nice use of technology but…. As we were talking her phone buzzed and she said, “Hey have a look at this!” percent of GDP and has created 2.6

Strategy 150

Strategy Study Training Technology 150

PYMNTS

DECEMBER 19, 2018

In 2011 it signed a consent agreement with the FTC that prevents it from sharing data on users without their clear consent. Protecting people’s information requires stronger teams, better technology and clearer policies, and that’s where we’ve been focused for most of 2018.”

Data 127

Data social media New York Apple 127

Celent Banking

JANUARY 28, 2016

Back in 2011, I wrote a report titled Innovative Payment Startups: Bank Friends or Foes? However, today we also have many startups and Fintech companies that are actively serving banks with their technology tools (from authentication and fraud management to back- and middle-office systems). The question is not necessarily new.

Fintech 100

Fintech Innovation Retail Payments 100

Fintech Labs Insights

OCTOBER 11, 2016

Lloyds Banking Group will be the first European institution to use “phone printing” technology to help fight fraud. ” Pictured: CEO, CTO, and founder Vijay Balasubramaniyan demonstrating Pindrop’s Fraud Detection System at FinovateFall 2012. .” The success rate has since reached 95%.

Groups 12

Groups Technology Georgia Fraud 12

PYMNTS

MAY 25, 2016

The proclaimed crypto-wizard previously worked for Apple in the 1990s and did a recent stint between 2009 and 2011. The tech giant has rehired Jon Callas, a top security professional, who cofounded many secure communications companies, including Blackphone, PGP Corp. and Silent Circle, Reuters reported.

Apple 100

Apple Security Course System 100

Fintech Labs Insights

APRIL 12, 2024

Innovations from 1995 to 2014 (with launch dates) Note: Ranking as of Jan 2014 Wells Fargo is first in the world to offer Web-statement access (launched May 1995) Security First Network Bank launches first full-service Internet bank brand (Oct 1995, disbanded 2002) PayPal launches first online optimized payment system (Nov 1999, bought by eBay in 2003) (..)

Innovation 15

Innovation Fintech Online Mobile 15

Abrigo

MARCH 24, 2021

The current guidance for FinCrime models was written in 2011 and meant for credit and market risk. Whistleblowers may be aware of fraud within an institution, corruption, systemic program deficiencies, or even lack of strengthening programs as expected by regulators. No one likes surprises of a regulatory nature.

Regulation 195

Regulation Training Study Policies 195

PYMNTS

AUGUST 12, 2016

“As soon as you connect a vulnerable phone to the appropriate USB charging cord, the spy machine splits the phone’s video display and records a video of everything you tap, type or view on it as long as it’s plugged in — including PINs, passwords, account numbers, emails, texts, pictures and videos.”.

Video 100

Video Las Vegas Security Conference 100

PYMNTS

AUGUST 12, 2019

Considering a company could have thousands — or even millions — of subscribers, this volume of credit cards could become a target for fraud. PYMNTS recently spoke about security with Bill Onderdonk, chief operations officer at KiwiCo, a monthly science, technology, engineering, art and math (STEAM) subscription box for children.

Retail 118

Retail Video Security Software 118

PYMNTS

JUNE 2, 2016

By now the rollout of EMV in the United States is old news, with an October 2015 deadline that seems positively ancient in the rearview mirror, and the transition itself had been telegraphed as far back as 2011, with a template stretching back across a decade especially in Europe.

Maine 100

Maine US United States Training 100

PYMNTS

JUNE 3, 2016

To adapt, let alone thrive, businesses with store locations must embrace EMV, the latest in payments security and authentication, especially considering the retailers themselves have taken on more responsibility for fraud after 2015’s liability shift. The challenge for the last year has just been educating our customer base.

Retail 100

Retail Apple Fraud Online 100

PYMNTS

OCTOBER 1, 2018

The SEC found LCA, LendingClub and Laplanche guilty of fraud for improperly using LCA assets to benefit LendingClub Corporation, LCA’s parent company for which Laplanche was both founder and CEO. In 2011, LendingClub added another $25 million in Series D funding in a round lead by Union Square Ventures. The SEC Finding. said U.S.

Lending 135

Lending Fraud Management San Francisco 135

Fintech Labs Insights

OCTOBER 21, 2015

. “The shift to EMV chip cards puts more costly fraud liability on stores without chip terminals,” Klein added, “but only half of small businesses are even aware of EMV liability.” merchants using the technology will be able to accept Visa, MasterCard, and American Express payments.

America 12

America Technology United States Cards 12