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

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. Developments From Around the World of Digital Fraud.

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PYMNTS

SEPTEMBER 6, 2016

In a world where payments become more invisible the more digital they become, there’s never been a better opportunity to consider new ways to enable the digital transformation of financial services in a secure and compliant way. Payments Security As A Digital Business Enabler. CA Technologies’ Roadmap.

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PYMNTS

MARCH 31, 2016

This week, PYMNTS, in collaboration with Socure , released the March edition of the PYMNTS.com Digital Identity Tracker TM , featuring all new research surrounding the increase in online fraud fueled by the increase in EMV card chip tech adoption. Other highlights from the survey include: Only 1.1%

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PYMNTS

MAY 23, 2017

In the latest Data Drivers, Uri Rivner, head of Cyber Strategy and vice president of Business Development at BioCatch , stated that as countries around the world embrace faster payments, they may do well to heed some sobering statistics on fraud gleaned from the United Kingdom’s own experience. Data Point One: 300 Percent. In the U.K.,

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PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised.

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PYMNTS

JULY 30, 2019

Such tools are no longer at the far reaches of the universe, and today’s technologies would make the Enterprise’s crew feel right at home. Wingstop, a fast-casual buffalo wings chain with 1,031 locations worldwide, tends to be an early adopter for new technologies. Orderscape is also working on voice-activated ordering technologies.

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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

FEBRUARY 10, 2017

Just when payment card data seemed somewhat protected by EMV technology, hackers have found yet another way to steal information and gain access to PINs. 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.

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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.

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Meeting Fraud Security ATM 53

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. financial institutions.

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NCR

SEPTEMBER 15, 2017

After years of lagging behind many other developed nations, the US market is rolling out EMV technology. While the transition is still in process, and has in many cases been a bumpy, road to adoption, it will go a long way towards tackling some of the most common types of fraud. The shift to e-commerce CNP fraud.

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PYMNTS

NOVEMBER 16, 2016

Unless it’s fraud you are talking about. At the end of 2014, the average U.S. But alongside that iPad your 10-year-old daughter needed, the rate of online fraud attacks on retailers has doubled, up 137 percent year over year in the first quarter of this year. Fraud attempts show that $7.30 The data is sobering.

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PYMNTS

JANUARY 8, 2020

By using secret card-reading devices and pinhole cameras at various locations, Rusu and others were able to commit a widespread bank fraud conspiracy that targeted various banks in Massachusetts, New York and New Jersey from August 2014 to November 2016, according to law enforcement.

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PYMNTS

SEPTEMBER 9, 2016

With the Same Day ACH rollout coming in just two weeks and other faster payments initiatives taking off, financial institutions are taking significant steps to ensure the transition to a faster processing environment, including improving their payment security platforms to keep fraudsters at bay. The Mountain View, Calif.-based

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PYMNTS

APRIL 11, 2018

The move comes as CEO Elizabeth Holmes agreed to settle with the Securities and Exchange Commission (SEC) over “massive fraud” charges lodged against the company. However, the reality, according to the SEC, was that the company’s blood analyzer technology could only do a small number of tests.

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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. 112 million was raised by SecureWorks , a small and medium-sized business cybersecurity firm, in the year’s first technology IPO.

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Fraud Cards Lending Analysis 100

PYMNTS

OCTOBER 4, 2017

Yahoo announced that it now believes a 2013 security breach exposed all 3 billion of its users at the time. According to news from Bloomberg Technology , Yahoo obtained the new information after Verizon acquired it for $4.5 government has accused Russia of directing the 2014 hack. Baratov faces U.S.

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United States Fraud Security Data 100

PYMNTS

JUNE 23, 2020

In today’s top news, former Wirecard CEO Markus Braun was arrested Monday night over the firm’s recent accounting fraud scandal, and Airbnb’s CEO is again mulling a potential initial public offering (IPO). Visa has crossed a key milestone — 1 billion tokens issued since the company released the first one in 2014.

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Payments Survey Innovation Fraud 159

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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ATM Fraud US Cards 40

PYMNTS

DECEMBER 28, 2016

According to a report by Reuters , Iat Hong of Macau, Bo Zheng of Changsha and Chin Hung of Macau were charged with wire fraud, insider trading and computer intrusion in an indictment filed in Manhattan federal court. The scam started in the beginning of April 2014, with the three hacking into a U.S. Prosecutors in the U.S.

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Fraud Security Meeting Report 109

PYMNTS

MAY 13, 2020

Visa said Wednesday (May 13) that 28 new partners — spanning a range of gateway acquirers and technology partners — are joining Visa Token Service as credential on file token requestors. It’s a multipronged approach,” he told PYMNTS, which augments other tools the payments network has in place to make commerce secure.

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NCR

JULY 13, 2017

Financial institutions should be braced for a tough fight against fraudsters this year, as they have been warned 2017 is set to be a record year for card fraud losses. Figures from FICO show that in 2016, such attacks were up by 70 percent compared with 2015, on top of a huge 546 percent year-over-year increase from 2014 to 2015.

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PYMNTS

APRIL 18, 2019

The PSD2 -related regulation counts itself among a raft of those set to become law across the continent, focusing on boosting online commerce security by requiring cardholders to provide two forms of identification to verify their identities when transacting. A September to Remember. Those under €30 ($33.93

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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

OCTOBER 10, 2018

In the battle of the payment rails, a few technologies tend to dominate the conversation. 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. Thieves attempted to steal $5.3

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Fraud Compliance Innovation Payments 116

Banking 2020

OCTOBER 22, 2014

From the retail point of sale to core banking systems, online security issues have dominated financial headlines in 2014. But amidst the reports of one data breach after another, check fraud has remained a constant thorn in the industry’s side, with 82% of U.S. Why is ultraviolet technology more secure than other technologies?

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Technology Fraud Security Study 57

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.”. million in February 2014. Theranos, a U.S.

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PYMNTS

JUNE 22, 2016

In what is being considered the country’s biggest class-action lawsuit to date, the watchdog claims DNB charged customers roughly six times more to manage their funds over the course of 2010–2014, the Financial Supervisory Authority and the Norwegian School of Economics and Business Administration stated. District Court in Atlanta.

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PYMNTS

DECEMBER 30, 2016

Smartphone penetration in Latin America was about 32 percent in 2014 and is expected to grow to nearly 70 percent by 2020. Because of the increase in smartphones and eCommerce, analysts also predict a rise in fraud attempts. Hand in hand, as more people have smartphones, eCommerce transactions will also rise. and Europe.”.

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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. million in 2014 – up ten per cent year on year.

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Fraud Cards Security System 40

Abrigo

MARCH 29, 2017

Learn more: Watch a replay of " How to Increase Efficiency and Minimize Risk in the Audit Process " Beyond the automation benefits provided by technology-enabled analytics, McLaughlin explained that the results of the analysis are powerful since they provide a means for visualization of the data.

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PYMNTS

NOVEMBER 23, 2020

While technological advancements have revolutionized many aspects of operations, payroll and expense management are not [among] them. Banking as a service makes it far easier for [entities] from startups to multinational corporations to access and create simple, fast, secure and transparent full-fledged financial products,” Athavale said.

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PYMNTS

AUGUST 16, 2018

Risk looms large with rampant growth in fraud, however, and financial institutions (FIs) must stay guarded to prevent cybercrime. Reducing Risk By Fighting Fraud. FIs stopped nearly $17 billion in fraud activity in 2016 — the most recent year that statistics were available — and lost $2.2 billion to it during the same year.

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PYMNTS

AUGUST 12, 2016

11) it teamed up with the National Institute of Standards and Technology (NIST) to publish a new resource to help enterprises and government organizations enhance their cybersecurity risk analysis , reporting and decision-making. and outside of the country.

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NCR

SEPTEMBER 7, 2016

Fraud continues to be a significant challenge for the financial services industry. Statistics from Synergistics showed 53 per cent of internet households that responded to an online poll reported they had previously suffered identity theft or fraud. The organization claimed fraud has risen 71 per cent over the last decade.

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PYMNTS

JUNE 16, 2018

Reports noted that the initiative is also looking to develop a Know Your Customer (KYC) mechanism based on digital identities, enabling financial institutions to share underwriting information like credit histories, as well as information about fraud cases, via a secure platform.

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blockchain National New York cryptocurrency 113