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

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

BankBazaar

DECEMBER 14, 2019

Financial transactions on BankBazaar have always been safe and secure. Since its inception, BankBazaar has consistently made efforts to create a robust, secure and glitch-free platform that will enable its users to carry out transactions and interactions seamlessly, minus the fear of losing crucial data and identity theft.

Security 78

Security Cards Compliance Data 78

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

JUNE 23, 2016

SM: When this happened, both the Bangladesh Central Bank and the Federal Reserve Bank in New York had security lapses that enabled the theft. Bangladesh’s Central Bank should have employed better perimeter security and data analytics to monitor for abnormal behavior from malware/spyware on their network.

Management 106

Management New York Security System 106

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

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

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

Company New York City Fraud Retail 102

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

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

OCTOBER 10, 2018

But just as it was a disruptive force when it emerged in the mid-19th century, today the wire has secured a bit of attention as players like SWIFT move to promote faster, more efficient cross-border transfers. billion via business wire fraud between October 2013 and December 2016, the FBI calculated.

Fraud 116

Fraud Compliance Innovation Payments 116

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. Securities and Exchange Commission also said it was opening a probe last month.

Leadership 191

Leadership Policies Management Meeting 191

Tech and Finance

JUNE 10, 2019

Department of Homeland Security last week released an update to its list of 16 critical infrastructures, which included financial services such as payments and clearing and settlement of securities. Valerie Abend, managing director, Accenture Security, said the department took a comprehensive view of security. “It

Security 31

Security Risk Management Payments National 31

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

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. Using Data to Acquire, Engage, and Retain Banking Customers,” and “Customer Identity: Balancing Security and Seamless Banking Experiences.”

Community 195

Community Lending Maine Resources 195

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

PYMNTS

JANUARY 5, 2017

Researchers champion digital payments as a way to combat the security, speed and efficiency problems associated with paper checks. Simply put: Crooks love checks,” Mike Vigue, VP of product strategy, cyberfraud and risk management at B2B payments company Bottomline Technologies, told PYMNTS.

Payments 100

Payments Survey Fraud Software 100

PYMNTS

OCTOBER 11, 2016

The suit was filed by San Francisco-based Partner Fund Management in Delaware Court of Chancery on Monday October 10. The suit was filed by San Francisco-based Partner Fund Management in Delaware Court of Chancery on Monday October 10. Theranos, a U.S. million in February 2014.

San Francisco 100

San Francisco Delaware Arizona California 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

PYMNTS

JUNE 15, 2018

In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates. Using technology would cut costs that come in tandem with anti-fraud efforts. That number now stands at 8,600 individuals.

Fintech 115

Fintech Compliance Software Taxes 115

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 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

AUGUST 15, 2016

According to statistics from the Association of Financial Professionals, 50 percent of companies were still using paper checks as of 2013. The survey gathered data from 120 respondents, whose titles included “AP manager, controller, chief financial officer, finance executive, accounting director and accountant.”.

Survey 100

Survey Fraud Payments Data 100

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

Groups United States ATM Fraud 101

PYMNTS

MAY 25, 2018

billion in securities from Russia were processed through the Estonian financial system. That warning came in 2013. Their identities were hidden behind a series of offshore management firms based in the Marshall Islands and the Seychelles,” the USA TODAY noted. In 2012, more than €7.3

Leadership 121

Leadership Report Groups System 121

PYMNTS

JUNE 14, 2018

” Fraud and chargebacks were identified as the top concerns of high-risk merchants surveyed by merchant services account provider Instabill, which also services high-risk merchants. The firm published a survey last month that found card-not-present fraud and chargeback management were cited by 61 percent of respondents.

Fraud 101

Fraud Survey Cards Industry 101

PYMNTS

JULY 3, 2017

In 2013, new limits were set on the amount merchants were legally allowed to charge customers for paying by credit or debit card, and come 2018, that amount will be slashed to zero. The Rise of CNP Fraud. Forty-three countries, 75 airlines and eight online travel agencies were involved in the fraud. Consumer Protection.

Online 112

Online Payments Fraud Cards 112

PYMNTS

JUNE 24, 2016

In a similar fashion, SecurityScorecard continuously surveys, analyzes and indexes vulnerabilities across the entire internet to determine the security posture for every organization worldwide,” Dr. Aleksandr Yampolskiy, CEO of SecurityScorecard, explained.

Google 101

Google Risk Management Survey Capital 101

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

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

JANUARY 13, 2015

According to Palm Springs FCU President & CEO Debbi Pitigliano, the drive was provided to the NCUA and contained members’ personal information, including names, addresses and social security numbers. Target’s late 2013 breach is among the largest in recent memory, affecting over 70 million individuals.

Lending 150

Lending Regulation Data How To 150

PYMNTS

DECEMBER 21, 2016

But more remarkable than the fact that Yahoo actually managed to compromise the data of 21 percent of the planet is the fact that this information barely registered with the vast majority of people. The simple answer: December 19, 2013 happened. What happened? What came next?

Data 100

Data Cards Fraud Security 100

PYMNTS

SEPTEMBER 14, 2017

The problem persists, and evidence suggests it’s getting worse, with recent research from TD Bank revealing news that 91 percent of survey respondents expect B2B payments fraud and invoice scams like business email compromises to increase in the coming years. billion in total losses since 2013.

Trends 104

Trends Survey Security Training 104

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

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 135

Lending Fraud Management San Francisco 135

PYMNTS

DECEMBER 12, 2017

Most businesses and accountants still rely on antiquated, paper-based methods to manage some stages of their process,” he said in an emailed interview with PYMNTS, pointing to the continuing popularity of checks and wire. Not only are these processes inefficient and costly, they’re also prone to dispute and fraud,” said Abbasi.

Fintech 110

Fintech Payments Analysis Survey 110

PYMNTS

FEBRUARY 15, 2019

Roger Ng, who used to be a managing director Goldman Sachs, was arrested in Malaysia in November for his alleged involvement in embezzlement involving the state investment fund 1MDB. billion from three 1MDB bonds that were set up by Goldman Sachs in 2012 and 2013. to face his charges, according to a report in the Financial Times.

United States 122

United States New York Management Report 122