PYMNTS

DECEMBER 17, 2020

Fraud protection specialist Kount and Philadelphia-based payments platform FreedomPay are teaming up to offer “an integrated, complete solution to enable international expansion with fraud-free payments and frictionless customer” experiences. Before, they were limited to one or two areas. Today, they’re pretty much everywhere.”.

Fraud 174

Fraud Payments Philadelphia social media 174

Chris Skinner

JULY 8, 2016

Things we’re reading today include … World faces deflation shock as China devalues yuan at accelerating pace Brexit could deliver ‘significant’ blow to eurozone, ECB warns Four ex-Barclays traders jailed for Libor fraud Five U.S.

Fraud 184

Fraud Marketing 184

PYMNTS

SEPTEMBER 29, 2020

An EY whistleblower has alleged the global accounting firm was warned as far back as 2016 that senior managers at Wirecard may have committed fraud and one had tried to bribe an auditor, the Financial Times (FT) reported. Wirecard paid the Emerging Market Investment Fund 1A 340 million euros ($399 million).

Fraud 189

Fraud Report Management Company 189

PYMNTS

DECEMBER 29, 2020

claimed the company was creating fake production records between 2010 and 2016 in order to access renewable fuel tax credits, which it would then launder, the AP reported. PYMNTS reported this month that corporate fraud schemes have been ubiquitous as of late. The Kingstons pleaded guilty in the tax credit scheme in the U.S.,

Taxes 167

Taxes Fraud Utah US 167

PYMNTS

MARCH 27, 2020

The financial industry is particularly vulnerable to digital fraud. Application fraud, which sees cybercriminals submitting financial product applications to banks with no intention of paying them back, is among the most popular techniques. Defining Application Fraud.

Fraud 208

Fraud Technology Knowledge Base Study 208

Chris Skinner

NOVEMBER 18, 2016

Things we’re reading today include … Libor trader Tom Hayes writes to fraud squad over fresh Bank of England claims JP Morgan pays $264m to settle China ‘bribery’ probe Euro suffers longest losing streak on record as dollar climbs on Fed rate hike prospects Ed Balls: Bank of England needs less independence and more political (..)

Fraud 150

Fraud 150

PYMNTS

OCTOBER 19, 2018

Even the mightiest of tech firms are not immune to invoice fraud. Engadget reported that Jeff Tran, Microsoft ’s former director of sports marketing and alliances, was charged with five counts of wire fraud. Wire fraud has a sentence of up to 20 years’ imprisonment. Fraud On The Rise. Payments Fraud No Cakewalk.

Fraud 152

Fraud blockchain Cards Payments 152

Chris Skinner

AUGUST 16, 2016

Things we’re reading today include … SEC cracks down on severance agreements that deter whistleblowing SEC says fund used terminally ill in fraud Investment: Rise of the DIY algo traders Handelsbanken ejects chief executive and promotes UK boss Ex-Goldman Sachs trader barred from industry Handelsbanken fires chief executive Sudden slide (..)

Fraud 150

Fraud Industry 150

Chris Skinner

SEPTEMBER 9, 2016

Things we’re reading today include … Mastercard faces £14bn card fee claim Stephen Fry: ‘Without tax, civilisation falters’ Wells Fargo will pay $190 million to settle customer fraud case Federal Reserve asks Congress to limit Wall Street merchant banking Quantum of scholars Carney’s arrogance has diminished the Bank’s (..)

Taxes 150

Taxes Fraud Cards 150

Chris Skinner

AUGUST 9, 2016

Million for ‘Squawk Box’ Failures Ten of the most expensive animals in the world Barclays pays a further $100m in the US over Libor fraud Watchdog targets banking ‘revolution’ Lloyds faces legal fight over … The post Things worth reading: 9th August 2016 appeared first on Chris Skinner's blog.

Fraud 150

Fraud US 150

Chris Skinner

JUNE 17, 2016

Things we’re reading today include … Brexit poses global financial risk, Bank of England warns HSBC pays out £1bn to settle US sub-prime lender fraud claim Bank governor Mark Carney clashes with Vote Leave over EU A third of UK businesses think Brexit would be bad for economy Barclays says £721m lawsuit by financier is … The post (..)

Fraud 150

Fraud US 150

Chris Skinner

MAY 24, 2016

Things we’re reading today include … Google offices raided in Paris as prosecutors announce fraud probe Government considers seven-day switching service for mortgages Challenger banks accuse watchdog of naivety over big four dominance Clydesdale Bank targets young, cool customers, as Nationwide goes for the old and rich Market place lending: (..)

Google 150

Google Lending Fraud Marketing 150

PYMNTS

MAY 8, 2017

Cyber wire fraud via email had increased during the last seven months of last year, according to a new warning from the Federal Bureau of Investigation. billion from October of 2013 through December of 2016. billion from October of 2013 through May of 2016, showing a big increase in attempts in the last seven months of 2016.

Fraud 102

Fraud Report Security Trends 102

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

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

PYMNTS

JULY 25, 2017

As such, it would be logical to utilize machine learning to help tackle one of the largest threats to the eCommerce shopping world – online retail sales fraud. In 2016, online financial fraud hit 15.4 Several companies have popped up over the last few years with the specific purpose of combatting online fraud.

Fraud 196

Fraud Online Retail Maine 196

PYMNTS

MAY 2, 2017

Credit card fraud is a fact that will likely continue to plague retailers for the foreseeable future. It’s on the rise in the eCommerce arena, according to data released from omnichannel commerce technology and operations company Radial’s eCommerce Fraud Technology Lab.

Fraud 150

Fraud Data Cards Retail 150

PYMNTS

FEBRUARY 23, 2020

Krasovec is now suing the Dallas, Texas bank, maintaining that PlainsCapital didn’t have anti-fraud protocols in place. Between June 2016 and July 2019, worldwide losses totaled $26 billion. subsidiary of Japan’s largest financial media organization, was the victim of a $29 million wire transfer fraud. Close to $1.8

Fraud 175

Fraud Dallas Texas Examples 175

PYMNTS

JULY 15, 2019

In Australia, a new report shows just how widespread internal fraud in the Commonwealth, aimed at government agencies, has become. This past week it was reported that, per an investigation by the Australian Institute of Criminology, such fraud amounted to $42 million over the past year. Grayson Jr., owner of Zealcon Corp.,

Fraud 109

Fraud Cards Taxes Payments 109

PYMNTS

JULY 2, 2020

A report in The Wall Street Journal (WSJ) said EY is now facing claims that the firm failed to identify “unorthodox financial arrangements” dating back to 2016, and, according to emails seen by the publication, that EY may have had questions surrounding those arrangements, but signed off on Wirecard’s financials regardless.

Fraud 152

Fraud Report Company Regional 152

Abrigo

JANUARY 3, 2024

As explained further below, financial institutions should comply with the 2016 regulatory definition of beneficial owners. One important aspect to reconcile between the 2016 CDD rule and the new final rule is the definition of the “control” prong. Stay up to date on AML/CFT and fraud trends with more professional development.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

DECEMBER 20, 2018

20) that it fined Uber $460,000 over its 2016 data breach that exposed the data on 57 million customers and drivers across the world. Earlier this year Uber settled with the state of California, agreeing to pay $148 million over the 2016 breach. The French Data Protection Authority said Thursday (Dec.

Data 192

Data Security California Regulation 192

PYMNTS

DECEMBER 28, 2016

PYMNTS consulted 21 payments executives from across the industry to share their insights on the biggest takeaways from 2016 as part of the “Payments 2016, The Year Of…” eBook. Payments 2016: The Year Of EMV-Enabled Cards. Throughout 2016, financial institutions continued to roll out new EMV-enabled cards to their consumers.

Cards 116

Cards Payments eBook Fraud 116

PYMNTS

APRIL 14, 2017

Fraud can happen on a multitude of levels in nearly any part of the economy. In the Association for Financial Professionals ‘ 2017 Payments Fraud Survey, the organization saw a significant rise in the amount of B2B payment fraud occurrences. 51 percent | Decline in the use of physical checks in B2B transactions.

Fraud 100

Fraud Data Payments Survey 100

PYMNTS

MAY 12, 2017

speaks to the growing risk of identity fraud and its detrimental effect on consumer confidence. In the study, the organizations found that the number of identity fraud victims had risen to 15.4 in 2016, losing a combined $16 billion — just over $1,400 per victim, on average. FBI Sees Wire Fraud Via Email Grow In 2016.

Fraud 128

Fraud ATM Google Study 128

PYMNTS

NOVEMBER 13, 2020

The SEC claims that Tolstedt publicly discussed and endorsed Wells Fargo’s “cross-sell metric” as a way of keeping track of the bank's financial success from mid-2014 to mid-2016. In 2016, Stumpf announced his resignation as chairman and chief executive of Well Fargo in the scandal’s wake. Stumpf also already agreed to pay $17.5

Fraud 230

Fraud California Community Bank Security 230

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 98

Fraud Survey Customer Experience Retail 98

PYMNTS

OCTOBER 25, 2017

According to data from the October 2017 Global Fraud Index , a PYMNTS and Signifyd collaboration, account takeover use recently skyrocketed, climbing 45 percent in Q2 2017 alone. billion to the popular fraud technique in only a few months, and that may only be the beginning. percent: increase in total fraud from Q2 2016 to Q2 2017.

Fraud 127

Fraud Study Trends Industry 127

PYMNTS

JULY 1, 2019

In payments fraud, it pays — literally — to change up the game a bit. The report shows the use of malicious emails, rather than attachments, is on the rise — which darkreading.com said comes along with new variants of impersonation fraud. Individual Fraud Cases, Here and Abroad. The data across a sample set of 1.3

Fraud 154

Fraud Report Minnesota Branding 154

PYMNTS

AUGUST 30, 2016

In just the last four quarters, fraud attacks have jumped by 137 percent, affecting over $7 out of every $100 made in retail sales. If that weren’t troubling enough, merchants are now being forced to bend over backwards to combat alarming levels of fraud originating outside the U.S. percent in Q1 2016. Their new favorite?

Fraud 115

Fraud Trends Training Regional 115

PYMNTS

FEBRUARY 2, 2017

Most people never dream that identity fraud could happen to them in their lifetime. Research firm Javelin Strategy & Research just released its 2017 Identity Fraud Survey, showing that it found a 16 percent increase in identity fraud victims for the year 2016. 31 percent | Increase in fraud incident occurrences.

Fraud 100

Fraud Data Strategy Security 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

PYMNTS

OCTOBER 1, 2018

in a settlement with the Financial Conduct Authority (FCA) due to a cyberattack at the lender in 2016. We are very sorry for the impact that this fraud attack had on our customers. I apologize to our customers for the inconvenience caused in 2016.”. Tesco Bank agreed on Monday (Oct. 1) to pay £16.4m

Fraud 134

Fraud Security Resources Operations 134

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

MARCH 2, 2018

For their alleged roles in a massive stock fraud and money laundering scam involving a Picasso, the U.S. In addition, prosecutors said eight defendants, including offshore bank Loyal Bank Ltd, planned to launder proceeds from the fraud. million British pounds, which an undercover agent had said were proceeds from the fraud.

Fraud 161

Fraud Taxes Security Management 161

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 2, 2018

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm. News came Thursday (Nov. The Email Scam Lures More Victims. A Bit Of Victory. Procards Get Auditor’s Scrutiny.

Fraud 168

Fraud Company Massachusetts United States 168