PYMNTS

FEBRUARY 12, 2020

As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. The size and scope of the problem has been steadily rising since FBI’s 2017 Internet Crime Report.

Fraud 253

Fraud Handbook Security Comparison 253

PYMNTS

FEBRUARY 9, 2018

Telematics company Airmax says fleet card fraud will be “a thing of the past” thanks to technology. 8), Airmax released the results of a 2017 survey that highlighted the potential for fleet managers to save through miles per gallon (mpg) monitoring. In an announcement on Thursday (Feb.

Fraud 100

Fraud Cards Survey Management 100

FICO

NOVEMBER 10, 2020

I am always glad to see headlines like this one, which ran last summer in The New York Times: “ How to Reduce Credit Card Fraud.” Every Transaction Is Assessed for Fraud. FICO’s patented and proven fraud analytic capabilities have helped organizations save $90 billion+ per year. Steps Ahead of Financial Criminals.

Fraud 98

Fraud Cards Analytics Mobile 98

Accenture

SEPTEMBER 11, 2017

Earlier this year I made a set of payments predictions for 2017, which is living up to expectations as a year with new developments and change occurring on all fronts. Apple Pay) which grew 336 percent in the UK in the first half of 2017 compared to the same period in 2016 according to Worldpay. Contactless and Mobile Payments.

Payments 219

Payments Bitcoin Trends Apple 219

PYMNTS

OCTOBER 17, 2018

A new report from the Federal Trade Commission (FTC) says that fraudsters are increasingly requesting to be paid with gift cards, with some even asking for certain brands such as Google Play and iTunes gift cards. Google Play cards were not reported in significant numbers until this year.

Cards 174

Cards Payments Fraud Google 174

PYMNTS

JANUARY 31, 2020

A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods.

Fraud 148

Fraud ATM Cards Security 148

PYMNTS

JULY 1, 2019

Overall digital fraud increased by 13 percent in the past year, with the food and beverage industry seeing an increase of 60 percent – nearly four times above average. The Ineffectiveness of Card Verification in the Digital Age. Mobile order-ahead fraud is so widespread and difficult to stop because it is conducted remotely.

Fraud 167

Fraud Mobile Cards social media 167

NCR

JULY 13, 2017

Financial institutions should be braced for a tough fight against fraudsters this year, as they have been warned 2017 is set to be a record year for card fraud losses. For instance, it highlighted card skimming at ATMs or POS machines as an attack method that continues to be troublesome.

Fraud 55

Fraud Cards ATM Conference 55

PYMNTS

JANUARY 30, 2020

Virtual credit cards are one of the more flexible electronic payment methods available, and the world continues its steady march toward greater digital payment use. Virtual cards can improve accounts payable (AP) processes, benefiting both buyers and suppliers by streamlining day-to-day payments, and providing greater control over cash flows.

Cards 178

Cards Payments Fraud Capital 178

PYMNTS

JULY 8, 2020

“In many cases, AI is fundamental to scaling and keeping up with the pace of the network transactions that are happening,” said Sudhir Jha , a Mastercard senior vice president and head of Brighterion , an AI company that Mastercard acquired in 2017. Fighting Fraud in a Post-Pandemic World.

Fraud 274

Fraud Management Risk Management Company 274

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

Fraud 284

Fraud Study United States Training 284

PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

Fraud 152

Fraud Study Retail Online 152

PYMNTS

SEPTEMBER 21, 2018

They are buying fraud tutorials and data from other criminals online. They are eyeing juicy targets such as gift cards and loyalty programs, both of which are of increasing importance to merchants’ holiday revenues. The 2018 holiday shopping season has already started for people and organizations bent on fraud. Fraud Headstart.

Fraud 145

Fraud Retail Online Course 145

Chris Skinner

JULY 4, 2017

The post Things worth reading: 15th July 2017 appeared first on Chris Skinner's blog.

Fraud 164

Fraud US Cards 164

PYMNTS

DECEMBER 8, 2017

They say gift cards are the gift that always fits. Thieves simply walk into Walmart, Target, Home Depot, Lowe’s or another big-name retailer, steal an item, return it at a different store without a receipt and receive a gift card in return, which they can then turn around and sell to a pawn shop or secondary store for a lower price.

Fraud 105

Fraud Cards Tennessee Retail 105

PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

Fraud 124

Fraud Retail Online Study 124

PYMNTS

JUNE 19, 2017

The company believes that exposure of cardholder data that could be used to create counterfeit cards – including names, addresses, emails and Social Security numbers – was limited, but some credit card numbers may have been compromised. The breach may affect users who paid via credit card at affected Buckle store locations between Oct.

Cards 158

Cards Data Fraud System 158

PYMNTS

APRIL 12, 2018

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. chip-enabled merchants was down 66 percent in June of 2017 compared to June of 2015. Fighting Fraud by Finding the Good Instead of the Bad.

Fraud 126

Fraud Data System Security 126

PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

Fraud 129

Fraud Strategy US United States 129

PYMNTS

FEBRUARY 21, 2018

Beware the credit card test. There may be no escaping credit card fraud, as it comes in one form or another. Overall, one subset of card fraud is on the rise: Last year, Radial’s eCommerce Fraud Technology Lab said credit card testing was up triple-digit percentage points on an annualized basis.

Cards 156

Cards Fraud Data System 156

PYMNTS

NOVEMBER 12, 2019

PULSE , the debit/ATM network that operates as a Discover Financial Services company, said in a press release that it has adopted the FICO Falcon Platform to bring new fraud detection services to its network of more than 4,100 debit issuers. The FICO platform serves as the foundation of the DebitProtect fraud detection service, said PULSE.

Fraud 101

Fraud Study ATM Training 101

Chris Skinner

JULY 8, 2017

Plan to put a mini computer screen on bank cards – Daily Mail Customers may soon be offered bank cards with a security code that changes by the hour in a bid to tackle fraud. The new debit and credit cards will have a tiny computer screen on the back of the plastic near the signature strip.

Cards 171

Cards Maine Analysis Fraud 171

PYMNTS

OCTOBER 17, 2018

Today’s coverage includes the latest developments in fraud, along with Volkswagen’s eCommerce plans. Fraudsters Prize Payment Via iTunes, Walmart Gift Cards. Losses due to this type of fraud reached $40 million in 2017, an increase from $20 million in 2015 and $27 million in 2016.

Cards 155

Cards Fraud Payments Online 155

PYMNTS

FEBRUARY 6, 2019

Started in 2017 by the founders of Brazilian payments processor Pagar.me , Brex’s investors include Y Combinator Continuity, Ribbit Capital, Greenoaks, DST Global, Peter Thiel and Max Levchin. The San Francisco-based company also participated in the Y Combinator Winter 2017 batch. The card will be issued by Emigrant Savings Bank.

San Francisco 208

San Francisco Fraud Cards America 208

PYMNTS

DECEMBER 7, 2018

The BBC reports that beloved JK Rowling – she of “Harry Potter” fame and fortune – has been at the center of a credit card scam. Global Fraud, CFOs in Sight. based Autonomy, has been charged with fraud in the U.S. The former bassist has been sentenced to as much as 72 months in jail for mail fraud. purchase price.

Cards 170

Cards Fraud Dallas Examples 170

FICO

MARCH 9, 2020

has become a prepaid card store, with rows and rows of gift and other prepaid debit cards on display. In April 2019 The Wall Street Journal reported , “The total amount loaded on general-use prepaid cards in the U.S. This is almost identical to the existing fraud protection provisions for credit cards.

Fraud 52

Fraud Cards Analytics ATM 52

PYMNTS

DECEMBER 11, 2017

It appears the ever-inventive thieves of the world have found a new way to make gift card fraud work for them this holiday season, according to the Better Business Bureau (BBB). This year the scam relies on thieves grabbing cards off the rack, scratching the film that covers the card PIN underneath and copying the relevant numbers.

Cards 129

Cards Fraud Retail National 129

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.

Fraud 58

Fraud Cards Analytics Customer Experience 58

PYMNTS

DECEMBER 30, 2016

But, Vigue added, 2017 will be a year of continued innovation in the technology that can prevent, detect and mitigate a corporate cyberattack. What cybersecurity threats will impact corporate buyers and suppliers in 2017? Seventy-three percent of organizations experienced attempted and/or actual payments fraud in the past year.”.

Fraud 145

Fraud Security Survey Technology 145

PYMNTS

OCTOBER 26, 2018

Maeder, co-founder of the Loyalty Fraud Prevention Association , a group that offers resources, information and best practices to companies with loyalty programs, digital fraudsters have been using account takeovers (ATOs) to target these offerings. The Rising Tide Of Rewards Fraud. According to Peter R. billion worldwide.

Fraud 143

Fraud How To Cards Security 143

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 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

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. According to the research, during 2016 there was a resurgence in existing card fraud, which saw an increase of 40 percent in card-not-present fraud.

Fraud 100

Fraud Strategy Cards Security 100

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

JUNE 14, 2018

But of course, for our purposes, the focus is on payments – and here there are investigations, too, specifically into expense account fraud. Bloomberg reports that the bank is looking into fraud that may have occurred at investment banking and private banking units across Africa, Asia and the Middle East.

Fraud 103

Fraud North Carolina Policies Survey 103

PYMNTS

NOVEMBER 12, 2019

This is just one example of how the explosion of data can increase a company’s fraud vulnerabilities, but can also provide a solution if captured and utilized. Current and Future State of Fraud. consumer records containing PII increased by 126 percent between 2017 and 2018.

Fraud 100

Fraud Data Tools User Experience 100

PYMNTS

MAY 1, 2018

As biometrics have begun to represent the next generation in securing payments, Mastercard has unveiled a technological advancement for its own biometric cards. Cardholders can now register their fingerprints onto a biometric card at home through the new technology, the company said in an announcement.

Cards 118

Cards Security Technology Fraud 118

FICO

MARCH 7, 2018

As FICO reported today, there was a 10% increase in the number of payment cards compromised at U.S. ATMs and merchants in 2017. The number of compromised card readers at U.S. But the growth curve in ATM fraud is flattening out. Protecting Customers from ATM Fraud. ATMs, restaurants and merchants rose 8%.

ATM 45

ATM Fraud Cards Tools 45