PYMNTS

NOVEMBER 13, 2020

The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. million) since 2015, with 483 incidents being reported in June alone. Protecting Against SIM Swap Fraud By Deploying Digital Identity. More than 6.2 About The Tracker.

Fraud 242

Fraud US Mobile Study 242

Bank Innovation

OCTOBER 19, 2018

Noncash payments fraud in the U.S. outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 billion, in 2015. billion in 2012 to $8.3

Study 150

Study Fraud Payments Survey 150

Payments Dive

MAY 24, 2023

In 2015, the bank improperly denied customer reports of fraud and unauthorized use and, in some cases, failed to fully reimburse users, the CFPB said.

Fraud 221

Fraud Report 221

PYMNTS

MAY 18, 2020

Mastercard has announced a series of consumer protections aimed at protecting customers and merchants from fraud at fuel stations. The enhanced consumer protection program was designed to provide merchants and banks with tools to help them navigate the heightened risk of fraud, Mastercard said.

Fraud 196

Fraud Tools Security New York 196

PYMNTS

SEPTEMBER 13, 2016

In reference to fraud — the very activity that the cards are designed to thwart — Mastercard stated that fraud data shows a 54 percent decrease in counterfeit fraud costs at retailers who have either completed or are close to completing EMV transitions, as measured between April 2015 and April 2016.

Fraud 100

Fraud Cards Customer Experience Regional 100

PYMNTS

DECEMBER 21, 2018

Before the liability shift in 2015, the industry-wide prediction was that the onset of EMV would reduce occurrences of counterfeit card fraud in-store, but that the industry should expect to see a spike in card-not-present (CNP) fraud as fraudsters moved to easier targets. The Consumer As A Frontline Against Fraud.

Fraud 187

Fraud Tools Cards Security 187

Payments Source

OCTOBER 2, 2019

Recent reports that counterfeit card fraud is markedly down in the U.S. since the introduction of EMV chip cards in 2015 is fantastic news, except for retailers that also sell goods sells online. In that case fraud has merely moved from an in-store payment attempt to a card not present (CNP) one.

Fraud 122

Fraud Payments Cards Retail 122

PYMNTS

DECEMBER 3, 2018

In 2015, the Wall Street Journal reported Marriott had a smaller breach in which malware was installed on point of sale systems in hotel restaurants and gift shops. That was announced four days after Marriott announced it was buying Starwood Hotels & Resorts, noted the paper.

Cyber Security 122

Cyber Security Security Cards Resources 122

PYMNTS

AUGUST 16, 2019

General Electric has been targeted in accusations of massive accounting fraud by the whistleblower that called out Bernard Madoff’s Ponzi scheme, reports in CNBC said on Thursday (Aug. He accuses GE of undertaking “a bigger fraud than Enron” that has left the company “on the verge of insolvency.”

Fraud 125

Fraud Capital Operations Report 125

PYMNTS

JANUARY 16, 2018

Attempts to commit online fraud jumped during the holiday season, increasing 22 percent from Thanksgiving to December compared to a year ago. According to ACI, the number of fraud attempts was the highest on Thanksgiving Day at 1.94 percent fraud attempts up from 1.48 percent fraud attempts compared to 1.49

Fraud 145

Fraud Risk Management Online Customer Experience 145

PYMNTS

SEPTEMBER 24, 2018

Perhaps more troubling, however, is digital fraud’s projected future. Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions.

Fraud 195

Fraud Security Analytics Data 195

PYMNTS

NOVEMBER 23, 2018

To counter fraud as the holiday season approaches, Best Buy , Target and Walmart made changes to their gift card programs. The FTC examined fraud reported directly to the agency, but it did not include reports in regards to shop-at-home purchases. That figure rose from only 7 percent in 2015, which marked an increase of 270 percent.

Fraud 156

Fraud Cards Retail New York 156

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. Bringing a global fraud approach to a new local market.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud. It helps.”.

Fraud 128

Fraud Analytics New Jersey Data 128

PYMNTS

APRIL 12, 2018

On the one hand, Worldpay ’s VP of Data Products Nicole Jass noted, EMV has done an awful lot to slam the door shut on card-present fraud. According to Visa, counterfeit fraud at U.S. chip-enabled merchants was down 66 percent in June of 2017 compared to June of 2015. Fighting Fraud by Finding the Good Instead of the Bad.

Fraud 126

Fraud Data System Security 126

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 trillion in 2018, and fraudulent mobile app transactions increased 680 percent between 2015 and 2018.

Fraud 110

Fraud Security Retail Tools 110

PYMNTS

MAY 9, 2016

Though the industry knew it was coming, the sharp migration of fraud from in-store to online channels with the growing adoption of EMV is still enough to keep any online merchant up at night. The data show that since the October 2015 EMV liability shift, United States fraud attacks have jumped by 11 percent. contact-form-7].

Fraud 100

Fraud Online United States Cyber Security 100

PYMNTS

JULY 5, 2017

In today’s enterprise, fighting fraud is something most finance professionals will encounter at some point in their careers. While most would think that CFOs have the last word on how to deal with fraud, research shows that’s not always the best approach. 20 percent | Increase in fraud between 2015 and 2016.

Fraud 100

Fraud Data Strategy Resources 100

Abrigo

FEBRUARY 9, 2024

billion laundered between 2015 and 2020 through the U.S. real estate between 2015 and 2020, and the actual number is almost certainly higher. You might also like this on-demand webinar, "AML/CFT hot topics for 2024: What to expect for financial crime." real estate market alone. billion through U.S.

Training 195

Training Fraud Trends Report 195

PYMNTS

APRIL 19, 2016

The Global Fraud Index, a PYMNTS and Forter collaboration , shows that online fraud attacks have jumped by 11 percent since the shift. Digital goods retailers have suffered the worst of all as those merchants (think games, songs, movies) have seen a more than 300 percent increase in fraud attacks since the liability shift.

Fraud 100

Fraud Online Trends Regional 100

PYMNTS

JULY 21, 2017

If a data breach is a sprint — where a fraudster grabs as much data as he or she can, as quickly as possible, in an effort to maximize ill-gotten gains — the fight against fraud is a marathon. Fraud varies country to country, region to region. Europe may offer a tell on the fraud to come. A marathon that never ends.

Fraud 116

Fraud United States Regional Cards 116

PYMNTS

FEBRUARY 2, 2017

The number of identity fraud victims rose 16 percent in 2016, marking the highest level since Javelin Strategy & Research began tracking the trend in 2003. According to the research, during 2016 there was a resurgence in existing card fraud, which saw an increase of 40 percent in card-not-present fraud.

Fraud 100

Fraud Strategy Cards Security 100

PYMNTS

NOVEMBER 6, 2019

When it comes to fighting fraud, it’s not really what you know – not exactly, at least. Fraud is big business, with online losses topping some $14.7 As Xie discussed with Webster, the best general practice is to take a proactive approach to fighting fraud – but that’s much easier said than done. New vs. Old Fraud.

Fraud 104

Fraud Data Regulation Security 104

PYMNTS

MARCH 30, 2017

The good news about EMV is that it has drastically dropped the instance for cloned-card fraud that was far more endemic in the mag stripe era. The not as good news is that fraudsters were not discouraged — they simply switched their focus to card-not-present fraud online, according to Experian.

Fraud 100

Fraud Resources Cards Data 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 billion in 2015, to $6.4 percent industry average.

Fraud 109

Fraud Taxes Retail Tools 109

PYMNTS

JUNE 15, 2018

CNBC reported late Friday (June 15) that Holmes, who left the CEO post that same day, was indicted on criminal wire fraud charges. The two former executives appeared in court in California to be arraigned on two counts of conspiracy to commit the aforementioned fraud and nine counts of actual wire fraud. The scope of the fraud?

Fraud 103

Fraud United States California Security 103

PYMNTS

JULY 27, 2016

Credit card fraud complaints in the U.S. saw the biggest increase in 10 years in 2015, with the number rising by 41 percent. ValuePenguin analyzed data collected by the Consumer Financial Protection Bureau and found that there were approximately 70,000 credit card fraud complaints submitted in 2015. Across the U.S.,

Fraud 100

Fraud Cards South Dakota West Virginia 100

PYMNTS

NOVEMBER 1, 2016

Hitachi is teaming up with a regional bank in Japan to introduce anti-fraud ATMs. Joyo Bank, a regional lender located north of Tokyo, will begin operating the new anti-fraud ATMs early next year. “We Nonbank ATMs account for as much as 60 percent of fraud attempts in 2015, up from 39 percent in 2014.

ATM 100

ATM Fraud Mobile Regional 100

PYMNTS

JUNE 14, 2018

But of course, for our purposes, the focus is on payments – and here there are investigations, too, specifically into expense account fraud. Bloomberg reports that the bank is looking into fraud that may have occurred at investment banking and private banking units across Africa, Asia and the Middle East.

Fraud 103

Fraud North Carolina Policies Survey 103

PYMNTS

AUGUST 3, 2016

The company released its Fraud Barometer this week and said Brexit generated a “perfect ecosystem” for fraud, thanks to economic and market uncertainties. But less dramatic instances of fraud could occur as businesses are looking to remain strong as the U.K. The average value of each fraud case increased to $3.26

Fraud 100

Fraud Report Marketing Operations 100

Bank Innovation

AUGUST 16, 2018

alone, Aite projects “over 300% growth from 2015 to 2020—from $100.3 A study released today by research firm Aite and Early Warning, owner of the bank-based P2P firm Zelle, found that P2P payments will triple by 2020. In the U.S. billion to $316.6 billion” […].

Fraud 186

Fraud Payments Study Operations 186

PYMNTS

MARCH 10, 2017

Earlier this year, the Treasury Inspector General for Tax Administration reported that there was a reduction in the number of fraudulent tax returns identified between 2013 and 2015. What’s Next In Tax Fraud. As of February, the number of mentions in 2017 so far was already over 40 percent of the 2016 total. But that’s not all.

Taxes 144

Taxes Fraud Risk Management Data 144

PYMNTS

FEBRUARY 2, 2017

Combating cyberfraud is a “balancing act,” says Sift Science, a fraud detection software company. And the number of things corporations have to juggle to safeguard their data — from the numerous types of fraud to the copious technologies that combat it all — mean cybersecurity is no easy task. Beyond Fraud.

Fraud 100

Fraud Security Payments Survey 100

FICO

MARCH 30, 2023

Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more. Now 41% of American consumers say none of their typical weekly purchases are made with cash – up from 24% in 2015. Fraudsters Love Digital Real-Time Payments All this rapid change is great for one thing — fraud.

Fraud 52

Fraud ATM South Carolina Management 52

PYMNTS

JUNE 15, 2016

The FBI is warning about the increasing risk of wire transfer fraud. As part of its newly launched public awareness campaign on wire transfer fraud, the FBI provided tips to help companies detect and fight the threats. Billion | The amount hackers have attempted to steal from businesses using wire fraud between October 2013-May 2016.

Fraud 100

Fraud Data Report Company 100

PYMNTS

APRIL 10, 2017

Experian, the credit rating company, is getting into the biometrics market, inking a deal with technology company BioCatch to use behavioral biometrics to fight fraud. ” Reuters noted that financial companies are looking to use more sophisticated technologies to fight online fraud.

Fraud 104

Fraud Online Cards Lending 104

PYMNTS

MARCH 1, 2019

He served jail time in connection with fraud and conspiracy, centered on accounting tricks that were partly used to cover financial losses. The Enron fraud resulted in estimated losses in the tens of billions of dollars, and relied in part on mark-to-market accounting, which inflated asset values. Founder and Chairman Kenneth L.

Fraud 108

Fraud Payments Report New York 108