PYMNTS

AUGUST 24, 2016

Exaggerated claims on expense reports are challenging businesses’ ability to manage employee spend — and their own. The data also highlights how both employees and their managers are to blame for inaccuracies and fraud. The data also found their managers are in on the issue. Enterprise Chris Baker in a statement.

Management 100

Management Report Fraud Analysis 100

PYMNTS

JUNE 20, 2016

Let’s talk about money management. This week’s B2B Data Digest focuses on the flux and flow of managing cash. Examine the latest research to grasp just how cumbersome modern cash management can be. $3 reports said, as is corporate employee fraud. But poor cash flow can ultimately lead to demise.

Management 104

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PYMNTS

APRIL 14, 2017

The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. much of the data offers a pessimistic outlook on how companies are at risk for payments fraud. “We

Fraud 101

Fraud Data Payments Survey 101

ZootBlog

MAY 18, 2016

This is the first in a two-part series as we look more deeply at fraud concerns and best practices for managing this ever-changing threat. Over the past couple of weeks we’ve been discussing fraud mitigation strategies on ZootBlog—everything from EMV chip cards to encryption, tokenization, and biometrics.

Fraud 67

Fraud Taxes United States Study 67

FICO

FEBRUARY 5, 2019

EnterCard, one of the leading Scandinavian finance companies, has sharply reduced its fraud rate and generated massive savings using the FICO ® Falcon ® Platform to combat payments fraud and communicate with its 1.7 Its achievements earned EnterCard a 2018 FICO ® Decisions Award for Fraud Control.

Analytics 53

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FICO

MAY 17, 2019

In the past 6-12 months, synthetic identity fraud has skyrocketed and has been one of the hottest topics in the financial crimes domain. Many of us remember 2013 when the FBI announced that they had dismantled a major criminal ring committing credit card fraud. this presents a pernicious problem.

Fraud 75

Fraud US Cards Training 75

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 Risky Business.

Fraud 100

Fraud Analytics Data Payments 100

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. In fact, during Congressional testimony, Wells Fargo’s former CEO admitted that he became aware of widespread fraud by the company’s employees in 2013.

New York 139

New York Fraud Community Bank Strategy 139

PYMNTS

NOVEMBER 5, 2019

Launched in 2013, California-based Robinhood offers commission-free trading. In the meantime, the traders that have used this method could be held liable for the money and guilty of securities fraud, said Donald Langevoort, a law professor at Georgetown University. “If Robinhood didn’t say how many people were impacted by the mistake.

Fraud 102

Fraud California Security Apple 102

ZootBlog

NOVEMBER 23, 2015

There are more types of financial fraud to manage than ever before—debit and credit card, check, online banking, electronic, ACH—the list goes on. An example is cross-channel or multi-faceted fraud, where information is gained in one channel and used to commit fraud in another, making it even more challenging to combat.

Fraud 60

Fraud Security ATM Online 60

PYMNTS

MAY 1, 2017

We detected this fraud against our vendor management team and promptly alerted the authorities,” a Google spokesperson said. “We The DoJ has since charged Rimašauskas with one count of money wire fraud, three counts of money laundering and one count of aggravated identity theft. BEC fraud has been on the rise across the globe.

Google 119

Google Fraud New York Trends 119

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

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PYMNTS

AUGUST 13, 2020

T he German payments company, once valued at $28 billion, filed for insolvency in June after disclosing that more than $2 billion of its cash that was supposedly held in trustee-managed bank accounts in two Philippines banks did not exist. . On Thursday, (Aug.

Report 157

Report Operations Online Fraud 157

PYMNTS

DECEMBER 7, 2018

Donaldson, said the site, had been employed to help manage Rowling’s business and personal matters. Global Fraud, CFOs in Sight. based Autonomy, has been charged with fraud in the U.S. The former bassist has been sentenced to as much as 72 months in jail for mail fraud. purchase price.

Cards 170

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FICO

SEPTEMBER 21, 2016

Online banking electronic payments fraud is on the rise, as fraudsters explore security gaps in the emerging banking channels. For instance, data released by Financial Fraud Action UK , shows that UK online banking fraud losses increased by 38% in 2014 from 2013, and by 64% in 2015 from 2014.

Analytics 40

Analytics Fraud Payments Retail 40

Abrigo

MARCH 29, 2017

During the webinar, McLaughlin explained that the two biggest challenges for audit firms lie within the tension of managing risk while creating more efficiency during the audit process. The goal is to do less work while managing an appropriate level of risk. The goal is to do less work while managing an appropriate level of risk.

Analytics 150

Analytics How To eBook Fraud 150

PYMNTS

NOVEMBER 1, 2018

Ng is also charged with conspiring to violate the FCPA by circumventing the internal accounting controls of a major New York-headquartered financial institution, which underwrote more than $6 billion in bonds issued by 1MDB in three separate bond offerings in 2012 and 2013, while Ng was employed at the financial institution as a managing director.

New York 139

New York New York City United States Management 139

PYMNTS

OCTOBER 17, 2019

According to recent PYMNTS research , illicit and counterfeit goods make up a multibillion-dollar fraud industry, with merchants suffering $323 billion in total losses from counterfeit products in 2017. The value of fake and counterfeit products went from $461 billion in 2013 to $509 billion in 2016. percent in 2013.

Fraud 101

Fraud Innovation Technology Mobile 101

PYMNTS

OCTOBER 17, 2019

According to recent PYMNTS research , illicit and counterfeit goods make up a multibillion-dollar fraud industry, with merchants suffering $323 billion in total losses from counterfeit products in 2017. The value of fake and counterfeit products went from $461 billion in 2013 to $509 billion in 2016. percent in 2013.

Fraud 101

Fraud Innovation Technology Mobile 101

BankBazaar

DECEMBER 14, 2019

This compliance scheme aims to make Credit Card and Debit Card transactions safe and secure against data theft and fraud. Another proof of how seriously we take data security is our ISO 27001: 2013 certification for Information Security.

Security 78

Security Cards Compliance Data 78

PYMNTS

OCTOBER 25, 2017

With many shoppers in Mexico wary of credit card fraud and relying mostly on cash, Amazon has launched a new cash payment service in the country. Fernando Ramirez, product manager for Amazon Mexico , said the cash service could attract “a population of new clients that would use this as their primary form of payment.”.

Marketing 124

Marketing United States Online Retail 124

PYMNTS

OCTOBER 8, 2018

However, as Karen Webster noted, perhaps the most surprising outcome of the investigation is just how long this money laundering debacle managed to carry on. The goal going forward, he told Webster, is “thinking AI-based systems,” designed to bring down the false-positives and spot emerging fraud patterns in real time.

Fraud 190

Fraud Regulation Compliance System 190

PYMNTS

JANUARY 5, 2017

“Simply put: Crooks love checks,” Mike Vigue, VP of product strategy, cyberfraud and risk management at B2B payments company Bottomline Technologies, told PYMNTS. Organizations are realizing that the best way to combat this relentless crime wave is to move to electronic payments,” Vigue continued.

Payments 100

Payments Survey Fraud Software 100

PYMNTS

OCTOBER 10, 2018

One of the biggest problems with wire, particularly in the B2B payments space, is its target for fraud, and the Federal Bureau of Investigations (FBI) says instances of business wire fraud, commonly referred to as the business email compromise, are climbing. Thieves attempted to steal $5.3

Fraud 116

Fraud Compliance Innovation Payments 116

Abrigo

OCTOBER 3, 2014

In the wake of several widely publicized fraud scandals over the last dozen or more years, such as Enron and Lehman Brothers, regulation of the accounting industry has come to the forefront of the public’s attention. His comments are not only applicable to his geographic region, but for sole props and firms across the country.

New Jersey 271

New Jersey social media Industry Regulation 271

Abrigo

MAY 5, 2022

Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. Breaking Banks Breaking Banks , billed as the #1 global fintech podcast and radio show, began in 2013 and is hosted by media firm Provoke.fm.

Community 195

Community Lending Maine Resources 195

PYMNTS

JUNE 23, 2016

SM: From this attack in 2013 they apparently don’t fare better. PYMNTS: Generally speaking, how much more/less prepared do you think U.S. banks would be in preventing a multimillion dollar cyberheist compared to international banks? Banking attack surfaces are so massive that solving for these threats is not quick, easy or cheap. .

Management 106

Management New York Security System 106

PYMNTS

MAY 16, 2018

With such a wide opportunity for financiers to meet demand in global supply chains, and with cash flow management an ongoing headache for supply chain participants, it’s no wonder that FinTech and supply chain management solutions providers have begun to work together. That would peg the value of fraud in the U.S.

Survey 124

Survey Capital Fraud Payments 124

PYMNTS

AUGUST 1, 2018

Europol contended that the group has been operating since 2013 and has members in 40 countries around the globe. The attackers targeted around 100 financial institutions (FIs), sending malware-infected emails to bank employees to access their networks and servers to engage in the fraud. Asia and Europe.

Groups 101

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PYMNTS

MARCH 18, 2019

An international coalition of pension funds, government entities and asset managers is suing Danske Bank over a far-reaching money-laundering scheme tied to Russia, and its subsequent cover-up. Law firm Grant & Eisenhofer announced the lawsuit as being tied to “one of the most egregious money laundering scandals in history.”

Leadership 191

Leadership Policies Management Meeting 191

PYMNTS

AUGUST 26, 2016

Those counts included wire fraud and intentional damage to a protected computer. Outrageous or not, prosecutors managed to convince a jury that Seleznev was behind the theft and resale of over 2.9 The son of a Russian parliament member, Seleznev was found guilty on 38 of 40 charges brought against him. 2009 to Oct.

Nevada 100

Nevada Georgia Washington Fraud 100

Abrigo

MARCH 23, 2017

Either way, with financial statement fraud on the rise, we need to strengthen our skepticism…not weaken it. In fact a report by Cornerstone Research entitled, “Accounting Class Action Filings and Settlements - 2014 Review and Analysis " , shows allegations that accounting fraud surged 47 percent in securities class-action lawsuits over 2013.

Analytics 150

Analytics Technology Data Study 150

Gonzobanker

AUGUST 3, 2023

The merchant breaches in 2013/2014 due to reissues and fraud plagued Target, Home Depot, fill-in-the-blank merchant and crushed financial institutions. What is your reissue strategy and how will it be effectively managed in your organization? TIP: A three-year PIN deal enables a bank to monitor and pivot if needed.

Cards 135

Cards Payments Branding ATM 135

PYMNTS

JANUARY 31, 2020

Bryant formed the Bryant Stibel venture capital firm in 2013 with Jeff Stibel, founder of Web.com. Bank’s Adam Kruis, senior vice president and manager of working capital consulting, and Jennifer Swenson, vice president of corporate payment systems, discuss how the bank ensures smooth implementation of virtual card solutions.

Cards 131

Cards Technology social media Meeting 131

PYMNTS

DECEMBER 20, 2019

According to people familiar with the case, the scheme managed to nab roughly $23 million from Google in 2013 and around $98 million from Facebook in 2015. Both companies identified themselves as victims in the scam. They said they had recovered their funds and were cooperating with law enforcement, Bloomberg reported.

Google 133

Google Maine Report Operations 133

Independent Banker

NOVEMBER 24, 2015

Current best practices in fighting wire fraud. With wire fraud on the rise, community banks have to step up precautions to protect themselves and their customers. Wire fraud incidents nearly doubled to 27 percent in 2014, from 14 percent a year earlier, according to the 2015 AFP Payments Fraud and Control Survey.

Community Bank 70

Community Bank Fraud Atlanta Community 70

PYMNTS

AUGUST 12, 2019

In a smattering of individual instances of fraud: In Canada, SaskEnergy said that it fired an employee amid allegations that the unnamed worker had misappropriated a fuel card, racking up $30,000 in charges between 2004 and 2019. In Canada – and in the US, too. The maneuver is also known as “cookie jar” accounting.

New York City 149

New York City Phoenix Fraud Florida 149