PYMNTS

FEBRUARY 18, 2019

So much of the focus on fraud these days involves exploiting holes in software, hacking into systems to steal personal information and payment data, or otherwise using digital methods in heists. But recent news involving “death-spiral financing” reminds us that fraud is still conducted in other, relatively old-fashioned ways.

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Payments Dive

FEBRUARY 8, 2018

As the technology behind payments becomes more advanced and readily available, so too are the possibilities for fraud. The Federal Trade Commission’s online database of consumer complaints reports 13 million complaints from 2012-2016, 42% of which were fraud related, and 13%, identity theft complaints.

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PYMNTS

JULY 27, 2016

Credit card fraud complaints in the U.S. ValuePenguin analyzed data collected by the Consumer Financial Protection Bureau and found that there were approximately 70,000 credit card fraud complaints submitted in 2015. At the state level, the number of credit card fraud complaints were much more pronounced. Across the U.S.,

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PYMNTS

NOVEMBER 7, 2019

The Bank of England has told HSBC to improve compliance controls for non-fiscal factors like fraud and staff conduct, according to a report by Reuters. The shortcomings were pointed out by Prudential Regulation Authority regulators. HSBC said it is planning to get executives together to work on the problem.

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FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

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PYMNTS

DECEMBER 7, 2017

Today in PYMNTS’ data, fast food chains are reporting consumer satisfaction following implementation of mobile order-ahead offerings, retail stores are closing at a near-record pace, “unthinkable” numbers of executives share their companies have experienced cyber fraud, real-time faster payments finally make their way to the U.S.

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PYMNTS

NOVEMBER 8, 2018

According to the FTC , the company violated the settlement struck in 2012 that stemmed from charges that the company had aided and abetted wire fraud. Court documents stated that the revised fraud prevention system that was put in place after the settlement was ineffective. This announcement came separately on Thursday.

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Bobsguide

NOVEMBER 21, 2016

Judging by the latest figures from the City of London Police’s Insurance Fraud Enforcement Department (IFED), it seems that ghosts are for life rather than just Halloween – or at least ghost brokers are. Since the department was established in 2012, it has carried out 86 investigations.

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Abrigo

MAY 10, 2022

financial system from money laundering, terrorist financing, fraud, and other illicit financial transactions. Fraud Prevention. Fraud Prevention. FinCrime professionals spend hours working on SAR narratives, sometimes days for complex investigations. Suspicious activity investigations are critical to safeguarding the U.S.

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Chris Skinner

JULY 4, 2017

Things we’re reading today include: Europe’s top bank watchdog makes case for optimism More than 80,000 Italians apply for just 30 bank jobs, as economy remains in doldrums Plan to put a mini computer screen on bank cards France to propose new measures to lure City banks to Paris FSA warned Lloyds in 2012 about risk of ‘potential fraud’ (..)

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PYMNTS

JANUARY 22, 2021

The company has invested some $100 million since 2012 to enhance its own compliance programs following allegations of consumer fraud. MoneyGram is in favor of a proposal by U.S. regulators to tighten the financial reporting requirements of banks and other financial services providers.

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PYMNTS

NOVEMBER 21, 2019

And, according to the news outlet, he had some aid, as officials have said that Hope Olusegun Aroke used a “network of accomplices” for the most recent fraud forays. He had been arrested in 2012, and, according to reports, has been imprisoned as part of a 24-year sentence at the Kirikiri Maximum Security Prison in Lagos. .

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FICO

MARCH 9, 2020

grew to $324 billion in 2017 from $208 billion in 2012, according to Mercator Advisory Group, a research and consulting firm. As the popularity of prepaid cards has grown, clients using the FICO® Falcon® Platform have expressed a strong interest in fraud models built specifically for prepaid card fraud. Our timing was right on.

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PYMNTS

DECEMBER 23, 2016

from 2012 to 2015. noncash payments totaled 144 billion in 2015, with a value of close to $178 trillion, up almost $17 trillion since 2012. percent by value from 2012 to 2015. billion from 2012 to 2015, with non-prepaid debit card payments leading the way, growing 12.4 trillion, since 2012. trillion, since 2012.

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PYMNTS

JANUARY 10, 2019

The auditors found that misused EU funds totaled 391 million euros or $451 million in 2017, in line with the past four years, but the EU’s anti-fraud investigative office OLAF was only able to indict EU member states in 45 percent of cases.

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PYMNTS

SEPTEMBER 12, 2020

NS8 , a Las Vegas-based online fraud prevention and detection software maker for small and medium-sized businesses (SMBs), has begun layoffs following the abrupt resignation of its CEO. 8) that the Securities and Exchange Commission (SEC) was investigating the company for alleged fraud. “We.

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South State Correspondent

OCTOBER 25, 2023

Over the last ten years, from 2012 to 2022, checks by volume have declined some 57%. This cost includes receiving checks, scanning, providing checks, check security, data verification, check data management, compliance, fraud management, customer service for transactions, handling complaints, dispute resolution, and exception handling.

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PYMNTS

MARCH 19, 2019

Is there a newer way to treat data that might also help prevent fraud? Data: March 19, 2012: Expected rollout date for a third Same-Day ACH (SDA) processing window. Data breaches are a serious threat to the financial health of businesses and consumers. Speaking of faster payments: Does the U.S. Federal Reserve have a hidden agenda?

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PYMNTS

SEPTEMBER 21, 2020

In response, HSBC issued a statement: “Starting in 2012, HSBC embarked on a multi-year journey to overhaul its ability to combat financial crime across more than 60 jurisdictions,” the bank said in response to the stories by BuzzFeed News and the International Consortium of Investigative Journalists.

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TheGuardian

MARCH 27, 2024

Tom Hayes, first banker to be convicted in 2012 rate-rigging scandal, had his case rejected by UK court of appeal Business live – latest updates Tom Hayes, the first banker to be convicted over the Libor interest rate scandal, has said he is “not a quitter” and vowed to continue his near-10-year battle to clear his name after losing an appeal.

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The Paypers

JULY 26, 2018

(The Paypers) German and Lithuanian authorities have arrested fifteen members of a cybercrime group that carried out more than 35,000 incidents of online fraud since 2012.

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PYMNTS

MARCH 26, 2019

The United States Supreme Court has rejected an appeal by online shoe company Zappos over a data breach in 2012 that compromised the information of 24 million customers, according to a report from Reuters. Originally, a Nevada judge claimed only people who had suffered financial loss were eligible for damages. The 9th U.S.

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PYMNTS

DECEMBER 21, 2018

The increase can be attributed to China’s request for thousands of devices’ worth of data during one fraud investigation. Since the inception of Twitter’s Transparency Report in 2012, we have received government information requests from 84 different countries,” according to the report.

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PYMNTS

OCTOBER 26, 2018

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. 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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PYMNTS

DECEMBER 10, 2020

identities took center stage in 2012 — the year HSBC, Europe?s The Financial Industry Regulatory Authority, a private corporation that acts as a self-regulatory organization, adopted new KYC rules in 2012 requiring its broker members to use “reasonable diligence” to open and maintain every account. The London-based bank?s

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PYMNTS

MAY 20, 2020

That could lead to choppy, uneven workflows, with the number of different portals leaving institutions open to mistakes or fraud. CashWire was implemented in 2012 as a way to help hedge funds and other investment managers consolidate payment workflows efficiently with less risk.

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PYMNTS

MARCH 3, 2020

Facebook acquired Instagram for $1 billion in 2012 and WhatsApp for $19 billion in 2014. Big tech companies like Apple and Facebook could “destroy a small business with a change to an algorithm,” he said. He added that by not cracking down on mergers, it was increasingly costing consumers.

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Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. In 2012, FinCEN issued requirements for non-bank residential mortgage lenders and originators to establish an AML program and file SARs. Our team of experts can help.

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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. Mozido’s fintech fraud fiasco. And others disappear forever.

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PYMNTS

JULY 6, 2018

250 percent : The amount card-not-present fraud has grown since 2012. And, of course, how to leverage enough security advances to keep out the cybercriminals who want to follow — and rob — the digitally migrating crowds. $2 11 percent : The share of purchases made in cash in Australia in 2016.

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PYMNTS

MARCH 12, 2020

The men were said to have impersonated Jean-Yves Le Drian, France’s defense minister from 2012 to 2017, mostly by phone — but in some instances, they staged a fake office and used a silicone mask for video calls. Lasarevitsch’s lawyer David-Olivier Kaminski felt that the sentences were “dizzyingly high.” .

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PYMNTS

NOVEMBER 10, 2020

Partnering with Mazooma will help streamline account funding and reduce fraud for gaming companies and their players," said Lowell Putnam, head of partnerships at Plaid. Plaid, founded in 2012 in Silicon Valley, was acquired by Visa earlier this year. . About 75 percent of U.S.

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PYMNTS

AUGUST 8, 2017

The same suit alleges that the bank did not suspend accounts that were tied to fraud. The coding error pointed to by the bank was housed within intelligent deposit machines, brought on board in 2012. The error was not fixed until three years later, said the bank.

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Banking 2020

AUGUST 4, 2015

Often when we talk about card fraud we lump together credit and debit cards. Latest figures from the Federal Reserve in the US suggest something that perhaps we should already know – PIN debit cards suffer less fraud than signature credit cards. In the US, PIN debit cards saw a fraud rate of 0.89 transactions per 10,000.

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PYMNTS

DECEMBER 21, 2018

.” Microsoft revealed that the flaw was discovered by Google ‘s Threat Analysis Team, and it affects older Internet Explorer browser versions — including Windows 7 and 10, and Windows Server 2012; 2016 and 2019 versions of Explorer 11; Explorer 10 for Windows Server 2012; and Explorer 9 for Windows Server 2008.

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PYMNTS

JUNE 27, 2016

filed criminal charges against a man accused of hacking into the bank and credit card accounts of celebrities from February 2012 to January 2015. Locsin faces charges of conspiracy to commit bank fraud and aggravated identity theft, with the conspiracy count alone carrying a maximum sentence of 30 years in prison. 2012 and Sept.

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PYMNTS

NOVEMBER 15, 2017

Department of Treasury, Wells Fargo failed to do so — or to do it in a timely manner — on 50 or more occasions between March 2012 and June 2013. . In a regulatory filing, the bank said two of the lawsuits are class action cases alleging it violated federal and state consumer fraud laws.

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