PYMNTS

JUNE 13, 2016

This week’s Data Digest goes out to all of the managers out there. Whether you’re part of the C-suite or an entrepreneur leading your own business, managers keep the business running. 88% of finance professionals anticipate a rise in payments fraud , said TD Bank in its latest analysis.

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Management Survey Fraud System 100

PYMNTS

MAY 25, 2016

Radial , an omnichannel and fraud solutions provider, is promising to take away merchant woes with a suite of solutions, which it says improves order conversion rates and helps eliminate fraud. 2015, online fraud is forecast to explode from an estimated $3.1 With the introduction of EMV chip technology in Oct.

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PYMNTS

JULY 25, 2017

The impact of online fraud reaches far beyond the dollar count of sales lost. . In recent studies, as noted by EKN Research and Radial, developed nations are seeing an increase in card not present (CNP) fraud, which now accounts for as much as 70 percent of all card fraud and is growing at double-digit percentage rates in some nations. .

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Jack Henry

APRIL 30, 2014

In light of the ATM cash-out schemes that had taken place recently, an alert was issued to provide details on how this type of fraud had occurred, the risks presented to financial institutions (FIs), and what FIs could do to mitigate these risks. Ensure adherence to appropriate patch management policy and procedures.

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Fraud Cyber Security ATM FDIC 88

PYMNTS

SEPTEMBER 27, 2019

Police in Brazil have raided the residences of managers of Banco do Brasil in connection to their part in a money-laundering scam worth $48 million. Police are looking into accusations that the managers were a part of laundering the money between 2011 and 2014. .

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Management Video Company System 109

Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. The culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014 with advisory FIN-2014-A007.

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Abrigo

MAY 9, 2022

The COVID-19 pandemic has substantially increased the need for fraud detection across the country, with hard dollar losses keeping financial organizations on their toes. Once a staffing assessment is complete, the results should be shared with senior management, documenting the process and the need for additional staff if identified.

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Compliance Fraud Regulation Resources 195

PYMNTS

AUGUST 3, 2017

Back in 2004, fraud was on the rise globally. Digital fraud was a new beast, and people didn’t know any better than to be tricked by phishing emails that today would raise red flags for even the most technologically illiterate consumers — sketchy email addresses, poor grammar and those classic sob stories from Nigerian princes, to name a few.

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PYMNTS

FEBRUARY 10, 2017

While they can’t be used to create a chip-based card, they allow enough data to be passed to create dummy magnetic cards that can then be used to perpetrate fraud. Identity Fraud On The Rise. What’s more, the amount the bad guys stole rose by close to $1 billion to $16 billion. to the same degree as other countries,” he noted. “A

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PYMNTS

APRIL 22, 2016

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

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PYMNTS

APRIL 1, 2016

Receivables management can be as much art as science. For banks, according to an e-book by payments processing firm FTNI, receivables management is a constant juggling act across corporate customers, and their own internal daily ebb and flow of cash flow.

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PYMNTS

JANUARY 27, 2020

The same report found that the total cost of a data breach had risen 12 percent since 2014. Growing attack-related expenses force businesses to remain vigilant against emerging threats, including phishing and other types of fraud that their own employees may willingly or unwillingly perpetuate. million in 2019 — a 1.5

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PYMNTS

AUGUST 24, 2020

One FI deploying ITMs on a wide scale is Tennessee-based Ascend Federal Credit Union , which first began this initiative in 2014. But by extending our operating hours and centralizing the management of our tellers, ITMs are the solution that we chose [instead].”. Identity fraud is also a massive threat to ATM security, Powers said.

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Abrigo

JUNE 4, 2023

The AML training should be relevant to the various lines of business and comprehensive for employees, management, and the Board of Directors, with regular communication regarding risk tolerance. Save time by direct filing your SARs and CTRs with FinCEN.

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Compliance Training Resources Regulation 195

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

SEPTEMBER 7, 2016

IBISWorld research estimated total revenues for this industry in 2014 at $5 trillion. ” Cash management, of course, is vital for any industry. All of this is manual, often handwritten, riddled with errors and fraud, and takes an average of 22 days to process into an invoice, Weiss said, according to research conducted by Oildex.

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Abrigo

DECEMBER 17, 2021

Adequate staffing is crucial for areas with high regulatory scrutiny , such as the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) and fraud functions. There are other non-routine aspects of AML and fraud requirements to consider when performing your 2022 staffing assessment. Be Prepared. Understanding importance.

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Compliance Training Fraud Resources 195

PYMNTS

APRIL 25, 2016

Plus, the latest analysis on alternative lending demand, expense management fraud and the gap between what CFOs have for their companies and what they need. billion worth of the industry in 2014. The market saw its first tech IPO, an SME cybersecurity company, and we have the details on how much it raised.

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Fraud Cards Lending Analysis 100

PYMNTS

APRIL 13, 2018

trillion ($5.18T): Total value of Irish assets under management at the end of 2017. 7 million: The number of customers who have used Square P2P transfers as of December 2014. 81 percent: How much more common card-not-present fraud is when compared to point-of-sale (POS) fraud. The Facts: .

Fraud 100

Fraud Cards Management Data 100

PYMNTS

AUGUST 15, 2019

Managing director since 2017, Dobbie will lead Vocalink in the expansion of B2B payment services in the U.K. Dobbie will also join the Management Committee of Mastercard’s New Payment Platforms (NPP) business unit offering a full range of B2B payment services in the account-to-account space.

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Payments National ATM Innovation 171

FICO

OCTOBER 12, 2016

Globally, the European ATM Security Team reported a 19% increase in ATM-related fraud attacks from 2014 to 2015. jumped 174% from January-April 2014 to January-April 2015, while successful attacks at nonbank machines increased by 317%, as reported in the Wall Street Journal. What else can we do?

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PYMNTS

FEBRUARY 17, 2020

The travel industry may have seen exceptional growth in recent years, but the space has also toted the heavy baggage of rising fraud costs. Fraud could cost the market more than $25 billion this year, and approximately 20 percent of attempted travel-related transactions are confirmed to be fraudulent. No one used it,” he lamented. “It

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BankInovation

AUGUST 14, 2020

trillion in 2014, and are expected to reach $6.5 As the world moves toward a digital payment landscape, fraudsters have evolved their methods from stealing cash and checks to exploiting electronic payments, ACH and wire transfers. E-commerce sales in the U.S. have increased to $3.5 trillion in 2019 from $1.3

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Fraud Payments Groups Management 52

PYMNTS

OCTOBER 6, 2017

In the past, retailers had been focused on each individual role within their organization and the nuts and bolts of each part of their operation — elements like inventory management across whole networks, domestic and international shipping or payments security, to name a few. Merchants are not experts in inventory management.

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Retail Fraud Customer Experience Management 109

FICO

JUNE 29, 2017

FICO has just released an interactive infographic on European card fraud trends since 2006, showing that card fraud in the 19 countries studied has hit a new high of €1.8 In the UK, card fraud also a hit a new high in 2016, £618 million, though the rise was less than the rise from 2014 to 2015. CNP Fraud Takes Over.

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Fraud Cards Analytics Trends 55

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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Analytics Fraud Payments Retail 40

Banking 2020

NOVEMBER 24, 2015

First the good news – banks in Britain stopped nearly £1 billion in attempted fraud in the first six months of 2015. Banks prevented £7 in every £10 of attempted fraud, according to Financial Fraud Action (FFA) UK, which reports that losses on payment cards, online and telephone banking and cheques totalled £325.3

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Fraud Cards Cyber Security System 40

Abrigo

JUNE 10, 2020

The bank’s Chief Compliance Officer also raised concerns, and in May 2014, the AML Officer ultimately bypassed LaFontaine and sent an email to the then-Chief Risk Officer regarding the cap on alerts, according to the enforcement action. Fraud Prevention. Focus BSA/AML resources on risk. BSA Rules and Regulation. Learn More.

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Resources Regulation Compliance Policies 195

Banking 2020

JANUARY 29, 2016

By Damien Hugoo, Director of Product Management, Easy Solutions. Protecting a financial services organization against fraud requires much more than a strong password policy and client education. The risk of fraud is high and so are the costs. Increasingly, fraud attacks are conducted online.

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Fraud Analysis Policies Training 40

Banking 2020

DECEMBER 11, 2015

Ho, Ho, Hoax: According to ACI Worldwide, consumers need to brace themselves for a higher level of fraud online and across all channels this holiday season. With more consumers using devices to shop, fraud attempt rates increased by 30% compared to 2014.

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PYMNTS

APRIL 22, 2019

In addition, ClickBank works with product creators, digital marketers, banks and credit card companies to prevent risks, including fraud and cyberattacks. Fully Accountable, which launched in 2014, offers specialized accounting services for eCommerce and digitally based businesses.

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Strategy Leadership Taxes America 124

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. Mozido’s fintech fraud fiasco. And others disappear forever.

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Fraud Las Vegas Company Video 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.

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Analytics How To eBook Fraud 150

Abrigo

JUNE 2, 2021

FinCEN issued an advisory in 2014 highlighting the importance of a strong culture of compliance for senior management, leadership, and owners within financial institutions. Efforts to manage and mitigate BSA/AML deficiencies and risks must not be compromised by revenue interests. All Institutions Must Have. Conclusion.

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FICO

JANUARY 8, 2018

One of the newer applications of artificial intelligence rose to the top of the Fraud & Security blog last year: anti-money laundering. Here were the top 5 posts of 2017 in the Fraud & Security category: AI Meets AML: How the Analytics Work. Hacked ATMs Lead to 70% Rise in Debit Card Fraud. Read the full post.

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Meeting Fraud Security ATM 53

Gonzobanker

NOVEMBER 18, 2014

The “Transforming Customer Experience When Fraud Attacks” session was timely with Mike Young of EverBank getting specific about how the bank debriefs and learns from its voice of the customer calls. SurePayroll, a division of Paychex, had a nice payroll solution that cash management groups can private-label and provide to business customers.

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Chicago Retail Branch Design Training 97

PYMNTS

JANUARY 10, 2018

9) that it will be managing the ICO. Money By Design has launched a project called the Smart Tokenization Blockchain, which uses blockchain to produce and manage tokens. billion from ICOs since the beginning of 2014, citing data from Token Data. France-based ICO boutique Chaineum told PYMNTS on Tuesday (Jan.

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blockchain Fraud Data Regulation 137