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

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

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

PYMNTS

JUNE 14, 2020

There were four individuals also named in the suit: Richmond and Viceroy owner Robert Giardina and director Michelle Gregg, Ram owner Tzvi “Steve” Reich and Jonathan Braun, who worked with the other three in merchant cash advance operations in all the companies.

Company 198

Company Fraud New York Capital 198

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

MAY 8, 2019

The Indianapolis-based firm, which works to accelerate B2B payments to truck operators, apparently has removed its CEO and COO — the result of a financial accounting scandal at another trucking firm where FreightRover executives had worked. Fraud Allegations. Leadership Changes. Here is what happened, at least according to the U.S.

Fraud 135

Fraud Report Indianapolis Leadership 135

PYMNTS

APRIL 13, 2016

Fraud prevention technology provider ACH Alert has partnered with Venture Bank to provide customers with real-time fraud protection through its PRO-TECH solution, the companies announced on Tuesday (April 12).

Fraud 100

Fraud Operations Examples Technology 100

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

APRIL 26, 2017

While the fraud-fighting technology available six years ago didn’t stand a chance of protecting HiGear, the current car-sharing market , which is projected to be worth $16.5 billion by 2024, continues to experience similar fraud attacks. As machine learning has evolved over the years, so has the level and type of fraud.

Fraud 121

Fraud San Francisco Retail Branding 121

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

PYMNTS

MAY 23, 2016

Banks may not always be up for overhauling their operations with a largely untested, disruptive technology, but new reports suggest the threat of fraud in one area of corporate finance is encouraging financial institutions to adopt distributed ledger technology in growing volumes.

blockchain 115

blockchain Fraud Bitcoin Survey 115

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

PYMNTS

MARCH 23, 2020

Officials are warning of a rise in phishing attacks, while retailers have also been warned about fraud risks, with Amazon recently removing 1 million products for allegedly making fraudulent claims, recent Forbes reports said. Below, PYMNTS looks at some of the latest data points around the fraud threat. Payroll Professionals Inc.

Philadelphia 178

Philadelphia Fraud Taxes Survey 178

PYMNTS

APRIL 25, 2016

CNNMoney reported that a special group of British police officers, known as the Fraud Squad, confiscated money orders totaling £30 million ($43 million) after arresting a 58-year-old man for money laundering. 2015 and then was later converted to euros. law enforcement last week. and then out into bank accounts around the world.”

Fraud 100

Fraud Groups Operations Report 100

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.

Fraud 116

Fraud Fintech District of Columbia Payments 116

PYMNTS

NOVEMBER 16, 2016

Unless it’s fraud you are talking about. 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 At the end of 2014, the average U.S. The data is sobering. noted Reitblat.

Fraud 100

Fraud Retail Online Data 100

NCR

AUGUST 30, 2017

One of the most promising applications for this technology in the banking sector is in fraud detection. Being able to spot and act on suspicious activity and transactions in real-time, without the need for human interaction, has become essential for any bank in an environment where card and payment fraud levels are on the rise.

Fraud 75

Fraud Cards Analysis US 75

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

JANUARY 12, 2021

They estimated that losses averaged $719,548 per $1 billion in sales, up 2 percent from the same period a year earlier and 60 percent from 2015. He said the problem also includes things like complex returns fraud, cyber frauds, near-perfect counterfeiting and more. Matas sees the current wave of U.S.

Retail 226

Retail Florida San Francisco Sacramento 226

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. Many Victims.

Fraud 226

Fraud Strategy Cards Analysis 226

PYMNTS

MARCH 1, 2019

So are the fraud defenses deployed by merchants, payment service providers and financial institutions. And that’s causing a problem that goes beyond more traditional forms of ID fraud. Synthetic Fraud Process. Unlike more “typical” forms of ID theft, synthetic ID fraud is relatively grand.

Fraud 150

Fraud Data Security Analysis 150

PYMNTS

SEPTEMBER 6, 2018

6), the Justice Department has opened an investigation into possible fraud committed at the company’s wholesale banking unit. The documents were tied to the business banking group, which operates as part of the wholesale banking operation, where those corporate clients have top lines in the range of $5 million to $20 million.

Fraud 102

Fraud Operations Security Groups 102

PYMNTS

JANUARY 28, 2020

The total number of CUs in operation declined from 6,743 in 2015 to 5,390 as of 2019, but the total number of CU members increased over the course of the decade from 89.3 The past decade was a period of slow but steady progress for credit unions. Total CU assets increased 7.4 percent year over year from $884.7 billion in 2009 to $1.54

Innovation 155

Innovation St. Louis Fraud United States 155

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.

Retail 118

Retail Fraud Case Study San Francisco 118

PYMNTS

AUGUST 13, 2020

The country’s Department of Justice has been investigating a deposit into Bauer’s account from Wirecard Asia in 2015, according to Guevarra. . Bauer told the FT he was just an investor, and that as a board member he “does not have much to do with the day-to-day operations” of the bus company. On Thursday, (Aug. On Thursday, (Aug.

Report 157

Report Operations Online Fraud 157

PYMNTS

JANUARY 9, 2020

Mastercard found a 54 percent decrease in counterfeit fraud between April 2015 and April 2016, for example, while Visa saw a 58 percent year-over-year decline in counterfeit fraud in March 2017. The biggest obstacle is that the major card networks are setting the standards for how payment networks operate, Martz said.

Fraud 131

Fraud Cards Retail Security 131

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

MARCH 12, 2020

She noted that firms such as PULSE have enabled payments functionality spanning push payments, peer-to-peer (P2P) and business-to-consumer (B2C) for the past decade and that operating rules require funds to be available in customer accounts within 30 minutes.”. A tight labor market means employers must be cognizant of what their workers want.

Cards 154

Cards Fraud United States Payments 154

PYMNTS

JULY 29, 2019

These FIs are increasingly relying on AI and automation not only to secure platforms and streamline their back-office operations, but also to improve their customer-facing services. The following Deep Dive explores AI’s fraud-fighting uses and how the technology can offer more personalized services.

Digital Banking 181

Digital Banking Fraud Mobile ATM 181

PYMNTS

MARCH 12, 2020

Six men were convicted by a Paris court in a $50 million impersonation plot that conned wealthy residents into giving money to help the government with covert operations involving hostages, The New York Times reported on Thursday (March 11). The victims were told that the operation was secret and time-sensitive. million fine.

New York 141

New York Video Fraud Taxes 141

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

CFPB Monitor

DECEMBER 21, 2015

The CFPB announced last week that it has entered into a consent order with an individual who had operated a defunct business that resold consumer leads to settle charges that the business sold leads to debt collectors who used the information to deceive and threaten consumers into paying debts they did not owe.

Operations 60

Operations Atlanta Fraud Company 60

PYMNTS

MAY 10, 2019

prosecutors have charged a Chinese national for his alleged involvement in the 2015 data breach at health insurance company Anthem , which led to the theft of 78.8 businesses operating in four distinct industry sectors, and violated the privacy of over 78 million people by stealing their PII. million records. businesses. businesses.

National 115

National Data Indianapolis Fraud 115

PYMNTS

SEPTEMBER 17, 2018

Park faces one count of conspiracy to commit computer fraud and abuse — which carries a maximum sentence of five years in prison — and one count of conspiracy to commit wire fraud, which has a maximum sentence of 20 years in prison. Park and those organizations allegedly were behind the malware used in the 2017 WannaCry 2.0

Bitcoin 159

Bitcoin Payments cryptocurrency Fraud 159

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. Overcoming legacy systems.

Security 141

Security Tools Fraud System 141

PYMNTS

SEPTEMBER 6, 2019

Investors have clearly signaled that attention must be paid to operating leverage. Beating the fraudsters: Visa said that since their inception, chip cards have reduced counterfeit fraud by 87 percent. Counterfeit fraud dollars for all U.S. merchants dropped as measured from September 2015 to March 2019.

cryptocurrency 100

cryptocurrency Fraud Operations Capital 100

PYMNTS

DECEMBER 2, 2019

Despite breaking off its relationship with Danske Bank in 2015, Deutsche Bank didn’t report more than a million suspect bank transfers until February of this year. Danske Bank was no longer allowed to operate in Estonia after it admitted that $220 billion of questionable money went through a branch there between the years of 2007 and 2015. .

Washington 200

Washington New York Regulation Report 200