PYMNTS

MAY 30, 2019

counterfeit fraud, measured in dollars for these card present transactions, has dropped precipitously. The latest stats show that the continued upgrade to chip card acceptance – which began in 2015 – has led to a decrease in counterfeit fraud dollars on the order of 76 percent, as measured in December of 2018 vs. September of 2015.

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Fraud Cards Data Payments 198

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.

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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

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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.

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PYMNTS

DECEMBER 3, 2018

According to a report in the Wall Street Journal citing cyber security specialists, the breach in which the personal information of as many as 500 million customers was exposed began in 2014, going undetected until September of 2018. A spokeswoman for Marriott said everyone involved would have preferred the incident was identified earlier.

Cyber Security 122

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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. residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. real estate market alone. billion through U.S.

Training 195

Training Fraud Trends Report 195

PYMNTS

DECEMBER 12, 2019

The CEO of Shopin, a blockchain-powered startup, has pleaded guilty to securities fraud related to $42.5 have said they were the first seed investors in the company in 2015 and invested about $30,000. million in an initial coin offering, according to a report by Reuters. Frank Amato and RGB Coin Ltd.

blockchain 130

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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.

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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

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

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PYMNTS

APRIL 12, 2018

The transition to the EMV chip in North America has been both a boon and a bit of a headache when it comes to payments security. 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.

Fraud 126

Fraud Data System Security 126

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.

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Fraud Marketing US Resources 164

PYMNTS

NOVEMBER 13, 2020

Securities and Exchange Commission ( SEC ) on Friday (Nov. The Commission’s order against Stumpf determines that he inked and certified statements with the body in 2015 and 2016 that “he should have known were misleading” when it comes to Wells Fargo’s cross-sell strategy and reported metric.

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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. To successfully fight fraudsters, the industry needs to close security gaps and continue to improve, and consumers must be proactive, too.”.

Fraud 100

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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.,

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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.

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PYMNTS

MAY 4, 2016

According to researchers, small businesses lost an average of more than $12,000 in 2015 due to back-office fraud. billion in losses last year, according to JAVELIN’s 2016 Small Business Fraud Report: Small Businesses are Big Targets for Fraudsters. Collectively, analysts said the financial impact amounted to $3.1

Security 100

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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?

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PYMNTS

DECEMBER 11, 2017

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. He will lead the Fed’s initiative to address payments fraud risk and boost the security of payments in the U.S.

Security 112

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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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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

MARCH 1, 2019

If preventative measures aren’t taken, however, faster payments could open the door to more fraud and cyberattacks. Fraud opportunities. Rapid, irreversible payments limit the time FIs have to conduct fraud checks before clearing payments, increasing the risks of fraud and cyberattacks. Security strategies.

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PYMNTS

MARCH 16, 2018

Through the collaborative efforts of those with backgrounds in payments and security, the Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles.” They also cover security methods — and identity management controls — along with relevant laws and regulations, among other topics.

Security 100

Security Payments Boston Fraud 100

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.”.

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PYMNTS

JANUARY 26, 2017

Mastercard is teaming up with Oversight Systems to help government agencies detect payment fraud, according to a new announcement. 25) that it will collaborate with Oversight Systems to offer government agencies their collective data analytics and fraud detection solutions. The credit card conglomerate said Wednesday (Jan.

System 100

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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

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

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

Fraud 249

Fraud Policies Security Resources 249

PYMNTS

MAY 4, 2016

Bluefin Payment Systems, which offers point-to-point encryption (P2PE) solutions to several industries, including retail and health care, said on Tuesday (May 3) that it will also add the Visa Data Secure Platform (DSP) to its portfolio, through its Decryption-as-a-Service P2PE Solution.

Security 100

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PYMNTS

MAY 31, 2016

Last week, the FBI published a report confirming the fact – the data noting that, in 2015, ransomware attacks left businesses and individuals feeling the burn of more than $1.6 In the “2015 Internet Crime Report,” Randall C. Many security experts believe paying hackers only encourages the criminals to do the same to others.

Washington 100

Washington Report Security Industry 100

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

NCR

AUGUST 7, 2017

Past trends in the financial services industry have shown that criminals waste no time in finding weaknesses in new technologies to commit fraud. But does this really offer an accurate picture of the prevalence of contactless card fraud, and are banks doing enough to protect their customers from this threat? million in 2015.

Fraud 85

Fraud Cards Security Comparison 85

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.

Online 145

Online Fraud Analysis Study 145

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

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PYMNTS

DECEMBER 12, 2019

The CEO of Shopin, a blockchain-powered startup, has pleaded guilty to securities fraud related to $42.5 have said they were the first seed investors in the company in 2015 and invested about $30,000. million in an initial coin offering, according to a report by Reuters. Frank Amato and RGB Coin Ltd.

blockchain 130

blockchain Fraud Bitcoin New York 130

Abrigo

JANUARY 13, 2015

According to Palm Springs FCU President & CEO Debbi Pitigliano, the drive was provided to the NCUA and contained members’ personal information, including names, addresses and social security numbers. 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

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