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MonetaGo, GUUD Team On Secure Transactions

PYMNTS

MonetaGo , which specializes in blockchain technologies, and GUUD Company , which focuses on making international trade smooth, have teamed up on international financial transaction security, MonetaGo announced in a press release. Both companies are based in Singapore. Going paperless has to happen.”.

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How Dropbox Fights Fraud

PYMNTS

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion since 2016.

Fraud 150
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Identity Fraud Numbers Rose 16 Percent In 2016

PYMNTS

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.”.

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EY Accused Of Missing Alleged Wirecard Fraud

PYMNTS

In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported.

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Paper Checks, Email Fraud Top Enterprise Security Threats

PYMNTS

Bank heists and data breaches saw no shortage in 2016, and corporates large and small could no longer avoid the risk of a cyberattack. Half of companies surveyed, however, are depending on outdated technologies and solutions to stay secure. The environment has truly evolved into an equal opportunity hunting expedition for fraudsters.”.

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Kount, FreedomPay Join Forces To Offer Payments Platform, Fraud Prevention Package

PYMNTS

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.”.

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As Digital Banking Advances, Denmark Sees 60% Jump in Card Fraud

Bank Innovation

In Denmark, the advent of digital banking also saw almost a 60% jump in card fraud, Bloomberg reported yesterday. Danish credit card fraud significantly increased in 2016, Bloomberg said, and reports of online fraud in the country have increased 300% from reports in 2009. […].

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