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.,

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Accenture

FEBRUARY 28, 2017

Despite this, I can see clear trends through our work with clients and observation of industry developments, and based on these, I have developed a set of predictions for 2017. Card-not-present (CNP) fraud will continue to outpace e-commerce growth globally, even as e-commerce continues to grow strongly in all markets.

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Accenture

FEBRUARY 28, 2017

Despite this, I can see clear trends through our work with clients and observation of industry developments, and based on these, I have developed a set of predictions for 2017. Card-not-present (CNP) fraud will continue to outpace e-commerce growth globally, even as e-commerce continues to grow strongly in all markets.

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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.

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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.

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PYMNTS

FEBRUARY 2, 2017

Combating cyberfraud is a “balancing act,” says Sift Science, a fraud detection software company. And the number of things corporations have to juggle to safeguard their data — from the numerous types of fraud to the copious technologies that combat it all — mean cybersecurity is no easy task. Beyond Fraud.

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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.

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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.

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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. AI Also Helps Manage Credit Risk.

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PYMNTS

MAY 31, 2017

Visa announced Tuesday (May 30) that it is rolling out enhancements to its Verified by Visa service, a global solution designed to make online purchases more secure by helping ensure payments are made by the rightful owner of the Visa account. As part of the upgrade, Visa said it was enhancing its systems to support 3-D Secure 2.0,

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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.

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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. 28, 2016, and April 14, 2017. There is no evidence that online guests were affected.

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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.

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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.

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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.

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PYMNTS

AUGUST 18, 2017

Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. There’s never ‘too much’ security,” Grant said.

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

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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.

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PYMNTS

MARCH 1, 2019

When credit cards first debuted in 1920s America,they brought with them myriad benefits. For instance, prior to a law passed by Congress in the mid-1970s, companies could mail consumers activated credit cards without their consent. According to a 2017 YouGov survey, 65 percent of SMBs in the U.S. Fraud opportunities.

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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.

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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.

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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.

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PYMNTS

OCTOBER 13, 2017

With countless incidents of fraud occurring every day, some of which have made international headlines and impacted millions, cybersecurity and fraud prevention are top-of-mind for individuals and companies alike. How can they do that in an environment in which the security status quo is no longer appropriate?

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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.

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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.

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PYMNTS

JUNE 25, 2020

Digital fraud and cybercrime are constant worries for financial institutions (FIs) of all sizes, with these businesses seeing an average of 30 cyberattacks per hour in 2019 for a total annual cost of $1.45 million such attacks aimed at APIs between December 2017 and November 2019. Building Consumer Trust With Open Banking Security.

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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.

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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.

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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.”.

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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.

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PYMNTS

AUGUST 13, 2020

PAAY has rolled out a partner platform to let merchants and payment providers implement and track EMV 3DS, a standard that aims to help prevent unauthorized card-not-present (CNP) transactions, throughout different merchant accounts. It is essential right now that businesses take measures to protect themselves against fraud.

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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.

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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.

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PYMNTS

NOVEMBER 7, 2019

Capital One ’s chief information security officer (CISO), Michael Johnson, is being transferred to a new position following the bank’s colossal cyberattack in July, The Wall Street Journal (WSJ) reported Thursday (Nov. Johnson served as CISO since 2017. About five years ago, the company started moving its data to the cloud.

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PYMNTS

JANUARY 9, 2020

The shift from magnetic stripe to EMV chip cards marked one of the 21 st century’s most widespread payment developments. Chip cards have been heralded for their improved functionality and security, but they have still failed to address critical authentication problems, leaving retailers to bear the brunt of these vulnerabilities.

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PYMNTS

FEBRUARY 21, 2020

trillion by 2020, but new sales channels also invite emerging fraud forms. More than $1 trillion is expected to be spent on cybersecurity solutions worldwide between 2017 and 2021 as companies address the need for protections and make major investments in digital fraud-fighting techniques. The Sizable Online Fraud Threat.

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PYMNTS

AUGUST 24, 2018

“We are excited to continue partnering with KeyBank to deliver client-centric solutions and artificial intelligence capabilities beyond card payments,” Raj Seshadri, president of U.S. We are tapping our deep capabilities in data analysis to help KeyBank with fraud detection.”. issuers at Mastercard, said in the announcement. “We

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