PYMNTS

MARCH 12, 2020

Payment processors expanding their operations into new industries and markets have their work cut out for them, however. Each sector and country encounters different fraud types that providers must be ready to detect and thwart. The different social dynamics and payer behaviors change the way fraud behavior works,” he explained. .

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PYMNTS

NOVEMBER 30, 2020

While the business email compromise (BEC) scam is a global pain point for businesses, this week's B2B Data Digest looks at the latest figures in B2B payments fraud and finds BEC heating up in one particular region: Australia and New Zealand. Another business, homewares company Sage and Clare, was out $7,360 after falling for such fraud.

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PYMNTS

AUGUST 21, 2020

We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro , chief operating officer of boat rental and charter marketplace GetMyBoat , told PYMNTS. But] we’ve been around since 2013 … and we’ve been growing year over year.

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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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South State Correspondent

OCTOBER 25, 2023

However, volume has steadily declined as Venmo gained more traction by 2013, combined with real-time payments, Apple Pay, Google Wallet, and Zelle after 2017. In addition to the logistics of check clearing and the availability of fraud, settlement is no easy feat. Once a check leaves the payee’s hands, it is mainly unsecured.

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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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Taxes Fraud Operations Security 134

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.

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Analytics Fraud Groups Customer Experience 53

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. He was part of an ongoing probe by the National Bureau of Investigation and the Anti-Money Laundering Council. .

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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.

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Company New York City Fraud Retail 102

PYMNTS

AUGUST 21, 2018

21) that it discovered a sophisticated cyber-operation named Dark Tequila, which has been targeting Mexicans for the past five years. Kaspersky noted that the malware connected to Dark Tequila is “unusually sophisticated” for financial fraud operations. Kaspersky Lab announced on Tuesday (Aug.

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Analysis America Operations Security 112

PYMNTS

JANUARY 9, 2019

8) that his office, as well as 42 other state attorney generals, have settled with Neiman Marcus over a 2013 breach of customer payment card data at 77 of the retailer’s stores. million settlement, the department store operator has agreed to take steps to prevent another breach from happening in the future.

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PYMNTS

APRIL 11, 2019

By some accounts, pornography played a central role in the rise of the internet (and provided significant funding for cable and telecom operators ). The story not only shows how online, organized hackers operate, but how they take advantage of consumer mindsets to steal money via digital channels. Ransom Operation.

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Online Operations Fraud Analysis 129

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. Some companies just push their luck a little too far. Total Funding: $1.1B.

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Fraud Las Vegas Company Video 78

PYMNTS

DECEMBER 19, 2017

Employee fraud is a monumental issue, especially for small businesses (SMBs) without resources to track every penny workers spend. But that fraud is only part of the problem stemming from a lack of visibility into corporate spend. This creates an environment in which employee fraud can thrive.

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Management Fraud Cards Strategy 158

PYMNTS

MARCH 18, 2019

A new study by the Organisation for Economic Co-operation and Development (OECD) shows that trading in pirated and counterfeit goods has risen significantly, according to a report in the Financial Times. The value of fake and counterfeit products went from $461 billion in 2013 to $509 billion in 2016. percent in 2013.

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Report Innovation Study Security 124

PYMNTS

MARCH 26, 2020

Jeffrey Zack, a spokesperson for the company, said there was “no evidence” that the breach had hit the company’s own network, adding that it was “fully operational.” The company said it was looking into a “security incident” that involved unauthorized access with a third-party company. Zack did not say anything beyond that.

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PYMNTS

AUGUST 8, 2017

According a FTC press release, the defendants set up an operation known as Money Now Funding (MNF) to get and maintain merchant accounts that let it process credit card charges close to $6 million. The Federal Trade Commission (FTC) announced news on Monday (Aug.

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Cards Fraud America Lending 112

Jeff For Banks

OCTOBER 5, 2020

According to the Office of Inspector General (OIG) In-Depth Review (IDR) of the incident: "Enloe State Bank failed because the President and the senior-level Vice President perpetrated fraud by originating and concealing a large number of fraudulent loans over many years. For over a decade. The FDIC issued this guidance in June 2011.

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PYMNTS

OCTOBER 2, 2019

He is accused of setting up and operating Darkode, a black marketplace that operated between 2008 and 2013, as well as creating and deploying Mariposa, one of the largest botnets. Hard Fork reported that Matjaz Skorjanc, the co-founder of NiceHash, was reportedly taken into custody on Monday (Sept.

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blockchain Security Bitcoin United States 145

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. economy.

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Groups United States ATM Fraud 101

PYMNTS

JANUARY 5, 2017

He cited data from the Association of Financial Professionals in its 2016 Payments Fraud Survey , which found that checks were the most common payment rail for payments fraud, with 71 percent of companies surveyed having experienced either actual or attempted check fraud.

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Payments Survey Fraud Software 100

PYMNTS

DECEMBER 20, 2019

They engaged in a phishing scheme, sending emails to employees and agents of the companies, seeking outstanding bills and asking the companies to send money to accounts in Latvia and Cyprus that Rimasauskas operated, according to U.S. federal prosecutors. In a statement on Thursday, U.S.

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PYMNTS

MARCH 26, 2018

Europol contends the group has been operating since 2013 and has members in 40 countries around the globe. They sent malware-infected emails to bank employees to access their networks and servers to engage in the fraud. The attackers targeted around 100 financial institutions.

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ATM Groups Fraud Security 101

PYMNTS

OCTOBER 11, 2016

A letter sent to investors of Partner Fund Management said, “Through a series of lies, material misstatements, and omissions, the defendants engaged in securities fraud and other violations by fraudulently inducing PFM to invest and maintain its investment in the company.”. The firm faces civil and criminal investigations.

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PYMNTS

JULY 3, 2017

So-called “cheap flight” operators were once notorious for drip pricing, with the Office of Fair Trading (OFT) estimating that the airline industry alone was charging consumers £300 million a year (that’s $379,672,500 USD) in card surcharges at its peak. The Rise of CNP Fraud. Consumer Protection.

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Online Payments Fraud Cards 112

PYMNTS

MAY 16, 2018

As a middle-man in this operation, however, FR8Star looked toward a third-party financial player, rather than holding up its own capital to finance transactions. According to the publication, citing data from the 2013 IFA Business Profile & Performance Survey, fraud was the third most common reason for account debtor non-payment.

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Survey Capital Fraud Payments 124

PYMNTS

AUGUST 24, 2016

The data also highlights how both employees and their managers are to blame for inaccuracies and fraud. Along with T&E firm Certify, JPMorgan researchers also found that businesses lose a medium sum of more than $30,000 each due to fraud on the expense report. A recent report on the growth of expense management software finds a 19.2

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Management Report Fraud Analysis 100

Abrigo

MAY 5, 2022

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. It also examines how community banks are different than other types of financial institutions, along with strategies for optimal operations. Fraud Prevention. Financial Businesses.

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PYMNTS

SEPTEMBER 17, 2018

Park, said the complaint, was part of a hacker group backed by the North Korean government (where operations were conducted in part through Chosun Expo Joint Venture, a state-owned entity), and the charges unsealed by the United States tied him to other attacks, including headline-grabbing 2017 WannaCry 2.0 Park is being charged by the U.S.

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PYMNTS

AUGUST 5, 2019

Expanding operations to reach customers like these requires that businesses not only offer appealing products and services, but also provide payment experiences that are both convenient for consumers and easy for the companies to manage.

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Payments Compliance Operations System 115

PYMNTS

JUNE 14, 2018

But for some businesses, this risk can prevent them from obtaining the banking services they need to operate, according to Thomas Skala, chief executive officer and president of telecommunications and payments company Genie Gateway.

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Fraud Survey Cards Industry 101

PYMNTS

DECEMBER 6, 2018

Reuters , citing documents released by British lawmakers, reported that between 2012 and 2015 executives at the social media network operator — including chief executive Mark Zuckerberg — tracked how competitors were growing and then denied some access to user data that was available to other companies.

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Data social media Tools Video 116

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. If these documents are lost or tampered with, you no longer have access to the data necessary to effectively operate your business.”. Now, here’s where the data gets really interesting.

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Survey Fraud Payments Data 100

PYMNTS

MARCH 25, 2016

In a press release posted on Thursday (March 24), the DOJ confirmed that the individuals were charged by a grand jury in the Southern District of New York and are accused with launching an extensive campaign of DDoS attacks against 46 victims between late 2011 and mid-2013. Through the work of our National Security Division, the FBI, and U.S.

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New York National Security Tools 100

PYMNTS

JULY 21, 2017

Their respective operators have also been arrested. But as of yesterday, Dutch police were reporting that Hansa Market has been under their control since June and that they’ve been using the last several weeks to operate the site and monitor the vendors and customers. You got this one law enforcement.”

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Marketing National New York Conference 100

PYMNTS

AUGUST 24, 2016

A flaw that was previously discovered in the Android operating system’s Linux kernel is now believed to impact four in five devices, an estimated 1.4 Despite the fact that a patch was released on July 11, the latest version of the operating system does not include it. was released in 2013. billion Android devices.

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Security Google Operations System 100

PYMNTS

AUGUST 29, 2016

26) they seized around €1 million earlier in 2016 in connection with a operation that was being run on an online dark market. In a report by CoinDesk , a representative of Finland’s customs office said the online drug site was named Valhalla, which has been in operation since Oct. Finland customs agents announced on Friday (Aug.

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Online National Operations California 101