Remove 2012 Remove Fraud Remove Online Remove Technology
article thumbnail

 Ransomware Gains Traction, UK BEC Fraud Spikes

PYMNTS

Aided by technology – and emboldened by the rise of cryptocurrencies – fraudsters are stepping up ransomware campaigns. Gary Robinson, who serves as head of DCPCU, said that online conduits are gaining favor from fraudsters to further their schemes. “We Fraud that was in turn prevented by the unit amounted to as much as $8.2

Fraud 180
article thumbnail

Tokenization Beyond Payments

Payments Dive

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.

Payments 170
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Deep Dive: Why Video-Based KYC Is Key To Seamless, Cost-Effective FI Onboarding

PYMNTS

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

Video 201
article thumbnail

Enforcing AML/KYC Compliance When Legal Precedent Does Not Apply

PYMNTS

This is fueling a wave of interest and need for digital alternatives, many of which leverage biometric technology. The technology itself is not new — many consumers already use biometric authentication in their daily lives, with 80 percent of consumers using their fingerprints to unlock their smartphones, for example. Pennsylvania Gov.

article thumbnail

Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

Online 98
article thumbnail

World Password Day Highlights (The Annoying) Endurance Of A Weak Security Tool

PYMNTS

As far as we can tell at PYMNTS, the goal of World Password Day – here’s hoping you received a fine gift – is to increase awareness of the limitations of passwords as gatekeepers of digital commerce and payments, to remind consumers to change their passwords and to market services designed to boost online security. Microsoft handles 6.5

Tools 138
article thumbnail

Challenges for the neo-challengers: Four hurdles to overcome

Accenture

But there’s another reason why the neo-challengers are so front-of-mind: They’re industry leaders in cultivating technology innovation and optimising customer service and experience. While our research reveals consumer trust in banks is at its highest since 2012, consumers’ concerns over online fraud and cybersecurity have also grown.