Abrigo

NOVEMBER 20, 2015

Therefore, the more an accountant can investigate a business to understand its drivers, the more she or he will be able to provide valuable insight to the business owner or management team. Whether your client’s misstatements are due to fraud or lack of internal controls, following these steps can help your audit quality improve.

Analytics 150

Analytics Fraud Management Training 150

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 20, 2020

Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. The 62-year-old California resident will face a minimum of a decade in prison, according to the Department of Justice.

Bitcoin 130

Bitcoin Fraud cryptocurrency California 130

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

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. One of the easiest areas for internal fraud to occur is in employee expensing.

Fraud 112

Fraud Compliance Policies Technology 112

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. .

Fraud 120

Fraud Retail Cards National 120

Abrigo

JANUARY 13, 2015

The estimated cost of the breach may seem low – fraud protection for 1,600 members at an estimated total cost of $15,000 to $20,000. Enhanced data security measures aren’t the only new rules being considered by the NCUA in 2015.

Lending 150

Lending Regulation Data How To 150

PYMNTS

MAY 8, 2019

PYMNTS readers might recall that late last year, FreightRover secured $500 million in financing to fuel its factoring operations, with the capital coming from Crayhill Capital Management. Williams reportedly was president of a Celadon subsidiary called Quality Companies during the period of alleged fraud. Fraud Allegations.

Fraud 135

Fraud Report Indianapolis Leadership 135

PYMNTS

JANUARY 12, 2021

The banks helped Wirecard facilitate a 2015 acquisition of two Indian payment companies that had been referred to in the fraud allegations against the group. Other firms also warned the regulator about Wirecard's possible money laundering and fraud activity.

Fraud 175

Fraud Report Regulation Groups 175

PYMNTS

APRIL 14, 2017

The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. much of the data offers a pessimistic outlook on how companies are at risk for payments fraud. “We

Fraud 101

Fraud Data Payments Survey 101

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.

Fraud 109

Fraud Data Delaware New York City 109

PYMNTS

AUGUST 9, 2020

Shanmugaratnam, 54, the owner of Citadelle Corporate Services, a corporate management services company at the heart of an investigation, is the first person outside of Wirecard to be linked to the suspected fraud at the disgraced German payments company. million) at the close of 2015. million euros ($169.5 One of them held 177.5

Fraud 265

Fraud Report Groups Company 265

PYMNTS

MAY 12, 2016

Online merchants know very well that fraud costs them in many ways – in chargebacks, in false positives, in the friction that’s introduced at checkout that can cost a sale. But there’s nothing like putting the cost of fraud into the parlance that merchants know really well: units sold. Kount: Calculating The 9 Deadly Costs Of Fraud.

Fraud 100

Fraud Taxes Online Report 100

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.

Fraud 123

Fraud Payments Security Data 123

FICO

AUGUST 21, 2020

There’s one fraud pattern that’s highly predictable: when the economy goes down, fraud goes up. When it comes to fraud and COVID-19, the Great Recession of 2008 provides some important lessons that can help banks and consumers protect themselves against the increased risk. A Resurgence of Specific Fraud Types.

Fraud 52

Fraud Customer Experience Tools Analysis 52

PYMNTS

JUNE 20, 2016

Let’s talk about money management. This week’s B2B Data Digest focuses on the flux and flow of managing cash. Examine the latest research to grasp just how cumbersome modern cash management can be. $3 reports said, as is corporate employee fraud. But poor cash flow can ultimately lead to demise. 60% of U.K.

Management 104

Management Bitcoin Survey Report 104

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. billion, a 61 percent increase from 2015, and incidence reaching 31 percent, the study confirmed. A large chunk of U.S.

Fraud 100

Fraud Cards ATM Trends 100

FICO

APRIL 24, 2017

Financial Fraud Action UK (FFA UK) recently released their 2016 UK fraud performance report. Whilst there were some logical changes between 2015 and 2016, I was surprised at the fluctuation and significant shifts fraudsters have made in order to circumvent existing controls.

Fraud 68

Fraud Trends Mobile Cards 68

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. Bank project management offices.

Community Bank 60

Community Bank Apple Community Technology 60

ZootBlog

MAY 18, 2016

This is the first in a two-part series as we look more deeply at fraud concerns and best practices for managing this ever-changing threat. Over the past couple of weeks we’ve been discussing fraud mitigation strategies on ZootBlog—everything from EMV chip cards to encryption, tokenization, and biometrics.

Fraud 67

Fraud Taxes United States Study 67

FICO

NOVEMBER 20, 2019

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. The only way is to innovate, learn and adapt. by FICO.

Video 40

Video Fraud Cards Analytics 40

PYMNTS

JANUARY 27, 2020

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. Other fraud attempts targeting workplaces are no less dangerous. Fighting the Phishers. Ensuring Secure Workplace Practices.

Fraud 249

Fraud Policies Security Resources 249

PYMNTS

APRIL 25, 2019

Today, the internet makes discovering and then executing creative ideas not much more than a mouse click away — which makes exploiting death for the purposes of identity fraud easy, too. The interview comes amid heightened attention to synthetic and other growing forms of digitally-based fraud. Fraud Prevention. Many Victims.

Fraud 226

Fraud Strategy Cards Analysis 226

PYMNTS

MARCH 12, 2020

And according to Jennifer Schroeder, executive vice president of product management at PULSE, prepaid and payroll cards are proving increasingly popular among forward-thinking employers. As has been reported, the platform can help issuers manage, or restrict, transactions across groups of compromised cards.

Cards 154

Cards Fraud United States Payments 154

PYMNTS

JANUARY 29, 2020

Manual payroll processes require employees to submit paper receipts and fill out paper expense reports, generating an annual pile that SMBs must manage before April 15. Paper expense reports also leave SMBs vulnerable to fraud — intended or otherwise — from their employees, something they may not realize in time.

Taxes 141

Taxes Fraud Tools System 141

PYMNTS

FEBRUARY 6, 2018

Perhaps the last and best hope in the battle against ID fraud – the kind that brings ruin to credit reports and billions of dollars in losses to card companies and merchants. This is the percentage of new account fraud victims who discover they are, well, victims when they are contacted by a debt collector. Digital DNA.

Fraud 120

Fraud Data Security Cards 120

PYMNTS

JULY 27, 2020

And since 2015, Visa and Mastercard executives have been concerned about issues with Wirecard that included miscoded gambling transactions, high numbers of stolen card purchases and reversed transactions which led to substantial fines, sources told the newspaper. Visa and Wirecard declined to comment, according to the report.

Report 151

Report Fraud Cards Financial Technology 151

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

APRIL 10, 2019

The Association of Financial Professionals released new data this week that revealed the threat of payments fraud continues to climb, particularly for large enterprises, as scams like ACH fraud and the Business Email Compromise climb to record levels. Talent Management, Economic Disruption. But the latest analysis of U.S.

North Carolina 136

North Carolina Risk Management Leadership Survey 136

NCR

JULY 28, 2017

The ongoing development of digital technology has created unprecedented choice and freedom for consumers in how they manage their financial affairs. Research has shown that fraud has become a bigger threat as consumers and businesses have moved more of their financial processes into the digital space. An escalating threat.

Fraud 74

Fraud Digital Banking Survey Security 74

FICO

MAY 11, 2017

I was looking over my blog archives the other day and read this chestnut from December 2015: “With the introduction of EMV in the US, both [card not present and application fraud] are up – especially the sophistication of the synthetic identities used in application fraud.”. Customer expectations create fraud opportunities.

Analytics 45

Analytics Fraud South Carolina Lending 45

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

Security 141

Security Tools Fraud System 141

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 can banks do to protect their ATM machines?

ATM 40

ATM Fraud US Cards 40

Accenture

JULY 9, 2019

CAGR%, 2015-17. Within our sample, large payment providers (>€250 million of revenue) experienced 10 percent year-over-year EBITDA margin growth from 2015 to 2017, compared to three percent for small providers. Fraud management is a good example of a data-driven service. EU average revenue per transaction (€).

Payments 152

Payments Fraud Data Examples 152

ZootBlog

NOVEMBER 23, 2015

There are more types of financial fraud to manage than ever before—debit and credit card, check, online banking, electronic, ACH—the list goes on. An example is cross-channel or multi-faceted fraud, where information is gained in one channel and used to commit fraud in another, making it even more challenging to combat.

Fraud 60

Fraud Security ATM Online 60

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

Fraud 40

Fraud Cards Cyber Security System 40

PYMNTS

MAY 20, 2016

Corporate treasurers know fraud is something to keep an eye on, but amid all of the high-profile breaches and hacks over the last few years, apparently, these money managers haven’t acted — yet. There was also a 17 percent increase in the number of treasurers that said they are responsible for group liquidity management.

Survey 100

Survey Fraud Risk Management Management 100