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.

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Fraud Data Regulation Security 104

PYMNTS

NOVEMBER 8, 2019

Innovations — some more fantastical than others — keep emerging, though. Synthetic identity fraud continues to grow , but far slower than when it ran rampant in 2015 and 2016. The decline in synthetic fraud growth is attributed to greater adoption of fraud protection programs. Vein recognition? Voice patterns?

Innovation 120

Innovation Fraud Security Data 120

PYMNTS

SEPTEMBER 30, 2016

Fraudsters have been causing problems for retailers over the past four quarters, leading to a 137 percent jump in fraud attacks and affecting $7 out of every $100 made in retail sales, according to the latest PYMNTS.com Global Fraud Attack Index. The collaborative study with Forter measures the rate of fraud attempts made on U.S.

Fraud 100

Fraud Data Cyber Security Study 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” […].

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Fraud Payments Study Operations 186

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.

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Fraud ATM South Carolina Management 52

PYMNTS

SEPTEMBER 6, 2019

Why Invisible Will Make 2020’s Payments Innovation Roar. Two hundred and seventy-four years later, those words are the perfect framework for understanding what will define the next decade of innovation in payments and any ecosystem that touches it. Visa: Chip Cards Reduce Counterfeit Fraud By 87 Pct.

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Innovation Payments Apple United States 116

PYMNTS

JUNE 12, 2019

One of the biggest forms of education-related fraud is as simple as it is prevalent: students sending someone else to take tests for them. This type of fraud played a significant role in this year’s widely publicized college admission scandal. The university began utilizing a webcam-based system in 2015. Trust, But Verify.

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Online Fraud Analysis Study 145

PYMNTS

NOVEMBER 9, 2017

According to Kyriba and researchers at CFO Research , who surveyed 167 financial executives at companies with up to $5 billion in annual revenue, there is a clear winner in terms of what the board of directors is most concerned about in terms of CFO responsibilities: fraud. ” Their concerns aren’t baseless, either.

Risk Management 107

Risk Management Fraud Management Survey 107

PYMNTS

MARCH 29, 2016

According to Rurik Bradbury, VP, Identity Solutions at TransUnion, as more stores start accepting chip-enabled cards, the spike in online fraud has been remarkable – as in remarkably bad. . In an effort to refine the digital identification process, a growing number of providers are turning toward new and innovative authentication solutions.

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Fraud Online Cards Security 100

PYMNTS

JULY 17, 2017

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. The Many Faces of Fraud.

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Fraud Data Delaware New York City 109

PYMNTS

MAY 8, 2019

On his LinkedIn page, Meeks lists 13 years of employment at Celadon, including jobs as president and CEO from August 2015 until April 2017, and as COO before that. Williams reportedly was president of a Celadon subsidiary called Quality Companies during the period of alleged fraud. Fraud Allegations. Department of Justice.

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Fraud Report Indianapolis Leadership 135

PYMNTS

NOVEMBER 10, 2017

For any organization with an attitude of, “It can’t happen to me,” here’s a wakeup call: Corporate fraud is common and on the rise. One of the easiest areas for internal fraud to occur is in employee expensing. But always, in every organization, there are a few who are commuting fraud.

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Fraud Compliance Policies Technology 112

PYMNTS

SEPTEMBER 27, 2019

MyPayrollHR Founder Faces $70M Fraud Charge. The CEO and founder of the New York payroll company MyPayrollHR was arrested and charged in a $70 million bank fraud scheme that left hundreds of small businesses across the country scrambling. Visa Partner Launch Eyes $17T Digital Payments Opportunity For FinTechs.

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Fraud Fintech District of Columbia Payments 116

FICO

NOVEMBER 20, 2019

The only way is to innovate, learn and adapt. That is how UBS Card Center, which processes some 25% of card transactions in Switzerland, keeps fraud rates down and cardholders happy. And for the past 20 years, UBS have been using the FICO® Falcon® Platform and working in partnership with fraud experts from FICO. by FICO.

Video 40

Video Fraud Cards Analytics 40

PYMNTS

OCTOBER 1, 2019

The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. Developments Around The Digital Fraud World. consumers lose more to romance-based fraud than any other type of scheme.

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Fraud Millennials Regulation Trends 156

PYMNTS

JANUARY 27, 2020

Fraudsters’ attempts to access systems and steal valuable information are becoming more innovative, and research suggests they are also increasingly successful. The following Deep Dive delves into the steps companies can take to ensure their employees are knowledgeable about phishing and are at the front lines of anti-fraud efforts.

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Fraud Policies Security Resources 249

PYMNTS

JULY 11, 2019

In the latest Call Center Commerce Tracker, PYMNTS examines the ways that call centers are innovating their authentication methods and fraud protection strategies while keeping the customer experience fast and seamless. Around the Call Center Commerce World. How Delta is Leveraging Apple, AI For A Better Customer Service Experience.

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Fraud Apple Customer Experience Mobile 166

FICO

MAY 9, 2019

Congratulations to UBS Card Center on winning the Security Innovation of the Year award at the Retail Banker International Awards. UBS Card Center’s fraud team used the latest artificial intelligence and machine learning capabilities in the FICO ® Falcon ® Platform to stop 84 percent more fraudulent transactions last year than in 2015. “We

Innovation 40

Innovation Cards Security Fraud 40

Gonzobanker

DECEMBER 22, 2015

Well, what do we say about 2015? And, give or take a stumble or two, we snuck through it and did a reasonable job on 2015 objectives, in our humble opinion. So, it seems we’re good with only one outstanding item—digest the 2015 GonzoBanker Awards! 2015 Executive Call-out. ” – Tom Armstrong. Bravo OZRK!

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Community Bank Apple Community Technology 60

PYMNTS

JANUARY 24, 2020

The Italian government is setting aside $3 billion for the venture, with the goal of cutting down on fraud and black market deals. The country has the highest rate of value-added tax (VAT) fraud in Europe. The country has one of the lowest rates of credit card use in Europe, but that could change if the cashless initiative catches on.

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Payments Fraud Taxes Technology 234

PYMNTS

OCTOBER 8, 2019

Plaintiffs say that the actions of iFinex was “part fraud, part pump-and-dump and part money-laundering.”. And the Swiss National Bank (SNB) and the Bank for International Settlements (BIS) announced that they have signed an operational agreement on the BIS Innovation Hub Centre in Switzerland.

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Bitcoin Taxes cryptocurrency Innovation 181

NCR

JULY 28, 2017

This convenience offers many advantages to the consumer, but financial institutions and consumers need to recognize one of the biggest disadvantages of this technological expansion: the increased risk of digital banking fraud. million instances of fraud and two million computer misuse offenses in England and Wales alone. .

Fraud 74

Fraud Digital Banking Survey Security 74

FICO

NOVEMBER 14, 2017

UBS Card Center, which processes roughly 25% of the credit cards in Switzerland, has cut the amount of fraud write-offs per compromised card, stopped more fraudulent transactions and reduced false-positive rates using the FICO ® Falcon ® Platform. For its achievements, UBS Card Center has won the 2017 FICO Decisions Award for Fraud Control.

Fraud 58

Fraud Cards Analytics Customer Experience 58

PYMNTS

FEBRUARY 19, 2019

Further proof of that came recently from a young company based in San Francisco called Castle , which helps eCommerce operators such as Touch of Modern and Rue La La to defend against that type of fraud. Castle, founded in 2015, said it has raised $9.2 Fraud Prevention Innovation. Fraud Case Study.

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Retail Fraud Case Study San Francisco 118

ZootBlog

JANUARY 14, 2016

Over the past several years as banks focused on staying in compliance with myriad new regulations, innovation slowed—nearly to a standstill. In 2015, I predicted it would be the year banks took back banking. Grass roots innovation is something taking hold within banks. Innovation, alive and well.

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Innovation Industry blockchain Customer Experience 73

PYMNTS

MARCH 18, 2016

In a statement that accompanied the release, Martin Ferenczi, president for North America for Oberthur, said: “Online fraud is now 65 percent of the total card fraud. That’s why Oberthur Technologies developed MOTION CODE — to combat card-not-present (CNP) fraud.”

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Cards Security Fraud Online 100

FICO

AUGUST 4, 2016

Today we released our interactive European Fraud Map for 2015 , showing card fraud trends for 19 European countries. The big news was the 18 percent rise in UK card fraud, largely driven by online transactions. The rise in UK card fraud equates to an additional £88.5 million of CNP fraud came from e-commerce.

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Fraud Cards Analytics Study 40

PYMNTS

DECEMBER 28, 2016

While the EMV liability shift took place in October 2015, many of the effects of that shift were felt throughout 2016. At the transaction level, consumers began to feel like they were more protected from fraud with the introduction of the EMV chip card. But with the good comes the bad.

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Cards Payments eBook Fraud 116

PYMNTS

MAY 4, 2016

In a statement that accompanied the release, Bluefin Chief Innovation Officer Ruston Miles said: “The EMV liability shift deadline passed in Oct. With EMV, merchants now have a tool to combat fraud in the form of counterfeit cards.

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Security Data Fraud Meeting 100

PYMNTS

JANUARY 29, 2020

Many of these tools are designed for consumers and not employers, however, and B2B financial innovation has proceeded at a much slower pace. Paper expense reports also leave SMBs vulnerable to fraud — intended or otherwise — from their employees, something they may not realize in time.

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Taxes Fraud Tools System 141

PYMNTS

JULY 29, 2019

The following Deep Dive explores AI’s fraud-fighting uses and how the technology can offer more personalized services. Just 9 percent of India’s rural population had smartphone access in 2015, but that figure has reached 25 percent today. Fraud Protection and the Future of Digital Banking in India.

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Digital Banking Fraud Mobile ATM 181

PYMNTS

SEPTEMBER 9, 2016

The company is in the rapidly expanding space of fraud protection for eCommerce. Signifyd was founded Raj Ramanand and Mike Liberty, fraud experts who were previously with PayPal. At the end of 2015, the company announced it had a run rate of $5.6 At the end of 2015, the company announced it had a run rate of $5.6

Security 100

Security Fraud Resources Capital 100

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.

Analytics 40

Analytics Fraud Payments Retail 40

PYMNTS

MARCH 22, 2016

Alexander, at PYMNTS’ Innovation Project 2016 last week at Harvard, gave a sobering reality check about the cybersecurity threats that could become an even scarier reality in the click of a button. We aren’t where we need to be today,” Alexander said in March 2015. And we can thank innovators and new technologies for that.

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Fraud Security Innovation Course 100

PYMNTS

MARCH 1, 2019

While the benefits were great, the innovation came with its share of risks, too. If preventative measures aren’t taken, however, faster payments could open the door to more fraud and cyberattacks. Fraud opportunities. Once payments started moving in seconds, however, fraud instances quickly shot up. Risk reduction.

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Security Payments Fraud Cards 134

Gonzobanker

OCTOBER 27, 2022

It’s time for innovative banks and credit unions to redesign checking — fast. While there is no modification to requirements related to interchange fees, this change will negatively impact banks’ and credit unions’ payments revenue and, likely, increase their fraud-related costs. of merchants reduced prices.

Cards 78

Cards Fraud Regulation Trends 78

NCR

NOVEMBER 21, 2016

In October 2015, the European Parliament passed the revised Payment Services Directive (PSD2), with EU member states given two years to make the required changes in national legislation to comply with the new rules. ” The fraud implications. . ” The fraud implications. The nuts and bolts of PSD2.

Fraud 40

Fraud Compliance Payments Exercises 40