PYMNTS

NOVEMBER 6, 2019

Many consumers do not have funds readily on hand to make big purchases like electronics or furniture and prefer turning to instant loan apps like Affirm , a point-of-sale installment lender established in 2013, rather than going into debt with a bank or credit card provider. Fraud Faces the Machine. What is Affirm?

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PYMNTS

JUNE 7, 2019

Allied Wallet , an online payment provider and a client of Wirecard, settled with the Federal Trade Commission (FTC) last month over charges that it helped facilitate fraud and launder money, according to a report by the Financial Times. The relationship between the two entities lasted from 2013 to 2018.

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PYMNTS

JULY 3, 2017

Even in the quiet seasons, the online travel market is susceptible to the trade winds, and they don’t always blow in agents’ favor. But what hurts a business (especially a small one) more than an October snowstorm is when online fraudsters use CNP transactions to steal their services. The Rise of CNP Fraud.

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PYMNTS

MARCH 10, 2020

platform since its start in October 2013. Online hacking scandals are prevalent in today’s digital era, with major businesses reporting breaches of their security often. He was arrested on charges of aiding and abetting of trafficking and trafficking in stolen information. As of this week, Deer.io was still up and running.

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PYMNTS

MAY 12, 2017

speaks to the growing risk of identity fraud and its detrimental effect on consumer confidence. In the study, the organizations found that the number of identity fraud victims had risen to 15.4 percent increase in identity fraud victims since 2011, when 11.6 FBI Sees Wire Fraud Via Email Grow In 2016. million in the U.S.

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PYMNTS

DECEMBER 11, 2020

As goes banking, so goes fraud. PYMNTS December 2020 AML/KYC Tracker® done in collaboration with Trulioo probes the heightened fraud climate accompanying the mobile-digital shift, zeroing in on key aspects of prevailing in the digital fraud wars. It has ever been thus.

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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.

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PYMNTS

AUGUST 13, 2020

Wirecard reportedly provided multimillion-dollar loans to Bauer to operate his two businesses in the Philippines, PayEasy Solutions, an online payment company, and Froehlich Tours, a bus and coach rental company. While PayEasy logos were posted all over the office, the space doubled as the headquarters of Froehlich Tours,the report said.

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CB Insights

FEBRUARY 13, 2020

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.

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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.

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PYMNTS

MARCH 23, 2018

While the defendants have not been arrested and are reportedly abroad, they face multiple charges, such as wire fraud and conspiracy to commit computer intrusions. financial sector, which barred online service through an overwhelming flow of traffic from multiple sources. Prosecutors said over 31 terabytes were stolen from 144 U.S.

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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.

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PYMNTS

SEPTEMBER 18, 2018

The federal agency said it shut down websites where consumers could buy “fake financial and other documents – such as pay stubs, income tax forms, and medical statements – which can be used to facilitate identity theft, tax fraud, and other crimes,” according to an FTC statement. They were shut down for violating unfair practice prohibitions.

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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. Amazon debuted its Mexico-based site two years ago and is now the country’s third-largest online retailer. and only slightly above Walmex ’s online revenues.

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PYMNTS

OCTOBER 17, 2019

TruTag offered no immediate comment, but news of the funding round comes not only amid an ongoing push to enable more online pharmaceutical sales and delivery, but also an increasing focus on the global problem of counterfeit goods. Just take the online marketplace industry as one example of that problem. percent in 2013.

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PYMNTS

OCTOBER 17, 2019

TruTag offered no immediate comment, but news of the funding round comes not only amid an ongoing push to enable more online pharmaceutical sales and delivery, but also an increasing focus on the global problem of counterfeit goods. Just take the online marketplace industry as one example of that problem. percent in 2013.

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Fraud Innovation Technology Mobile 101

FICO

DECEMBER 6, 2017

There has been a lot of noise in the fraud marketplace from new market entrants touting the power of machine learning (ML), artificial intelligence (AI) and “new data sources” to fight fraud. My post today is about the underlying data we use to build models using machine learning analytics, the FICO Falcon Fraud Consortium.

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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. Pixelon: Online video vaporware. And others disappear forever.

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PYMNTS

JANUARY 6, 2017

It never takes long for cybercriminals to find new avenues to perpetrate fraud. Fraud On The Line. government and has been looked into since 2013. The paper noted that since 2013, Americans — many of whom are recent immigrants — have been scammed out of $100 million as a result. Ad Fraud Takes Center Stage.

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Javelin Strategy & Research

MAY 13, 2014

Based on previous experiences overseas, it is expected that EMV will eliminate counterfeit card fraud, while removing the incentive for criminals to compromise card data from POS merchants. Yet, in our attempts to anticipate fraud after EMV is broadly adopted, we are again putting ourselves in a position to be misled.

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Banking 2020

OCTOBER 9, 2015

Cases of card not present (CNP) fraud are continuing to rise across all corners of the globe, as EMV forces criminals away from traditional fraud channels. cents the year previously, and significantly higher than the less than one cent per $1,000 registered for cheque fraud. How can CNP fraud be prevented?

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Banking 2020

DECEMBER 8, 2015

Mexico’s consumers are being hit by payment fraud losses, but they are prepared to do something about it. In particular it seems that online purchases are a big target for fraudsters as the country’s e-commerce market booms. Fraud rises. million cases of suspected fraud involving MXN 7.3

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PYMNTS

MARCH 1, 2019

If preventative measures aren’t taken, however, faster payments could open the door to more fraud and cyberattacks. Fraud opportunities. Rapid, irreversible payments limit the time FIs have to conduct fraud checks before clearing payments, increasing the risks of fraud and cyberattacks. Risk reduction. Before the U.K.

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PYMNTS

MARCH 26, 2020

If a victim doesn’t pay, then the stolen files are published online. Last year, retailer Target filed a lawsuit against Chubb for $74 million, saying the company didn’t compensate it a 2013 data breach involving data from 110 million customers, according to TechCrunch. In December, it warned companies about the threat.

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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.

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Fintech Labs Insights

APRIL 12, 2024

Long before fintech was a thing (1995), I launched the first, and by most measures the biggest, newsletter during the first two decades of online/digital banking. It was called Online Banking Report and was read by a sizable portion of major industry players. And each January, we ranked all previous recipients into a master list.

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PYMNTS

DECEMBER 3, 2018

In December of 2013, Target was breached. That breach cost then- CEO Gregg Steinhafel his job, and became the poster child for EMV and the need to lock down payment card security to protect against counterfeit fraud at the physical point of sale. What’s Relevant in Retail.

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PYMNTS

AUGUST 16, 2016

Because the watchlists are in real time, financial services companies and financial institutions can meet compliance obligations and conduct checks against known or suspected entities and individuals who are associated with money laundering, terrorism, financial fraud, arms proliferation, drug trafficking or PEPs.

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PYMNTS

APRIL 21, 2019

The Securities and Exchange Commission announced late last week that Prosper , the online lender, has agreed to pay a $3 million fine for misleading retail and other investors via statements it made. The SEC contends Mattes overstates revenue at Jumio in 2013 and 2014 and then sold shares he owned in the private, secondary market.

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PYMNTS

AUGUST 8, 2018

The strategy focuses on social media support fraud, and saw a 38 percent increase quarter-over-quarter. The malicious link may bring a user to a seemingly legitimate online banking login page that steals credentials and other sensitive data. Bank Trojans with mining capabilities were first noticed in 2013.

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PYMNTS

MARCH 22, 2016

He also pled guilty to one count of wire fraud. 2013 to May 2015, during a tenure of employment at the U.S. Ford pled guilty in December of last year to nine counts of cyberstalking, along with another seven counts of computer hacking to extort. He admitted that, in the timeframe of Jan.

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PYMNTS

JUNE 19, 2018

Netevia provides a set of APIs for online sellers to integrate payment acceptance, both B2C and B2B, into their platforms. Those data breaches that began pummeling headlines in 2013 can also be traced back as a root cause for why card adoption has been stifled in the B2B payments market. But what about the hurdle of vendor acceptance?

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PYMNTS

NOVEMBER 12, 2018

“When we talk about new retail, we strongly believe that online commercial world and offline brick mortars are not separate worlds. It’s all about how to innovate online and offline to a whole digitized commercial world.”. In 2012 the firm was accused of aiding and abetting wire fraud. Everybody is the internet user.

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PYMNTS

JUNE 15, 2018

Financing is done through online and web platforms, with instant access to cash. Beyond those individual partnerships, and in a nod to FinTech as helping to mitigate costs stemming from fraud – a finance group based in Asia said this week that new technologies should get a nod from regulators in the battle against money laundering.

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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.

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Security Cards Compliance Data 78

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.

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PYMNTS

AUGUST 22, 2017

Stealing consumer phone numbers and using the access that comes with that to reset the entirety of a consumer’s online life. In January 2013, there were 1,038 such incidents reported; by January 2016, that number had increased to 2,658. The newest trick?

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