PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. According to a 2017 report from the FBI’s Internet Crime Complaint Center (IC3), there have been $1.4

Fraud 108

Fraud Knowledge Base Regulation Data 108

PYMNTS

JULY 16, 2019

Regional banking firm KeyCorp disclosed a massive instance of fraud on Tuesday (July 16) that could potentially cost $90 million, according to a report by CNBC. In a K-8 filing, KeyCorp, which is based in Cleveland, said the fraud involved a “business customer” and that it was discovered “on or about” July 9. Shares fell on the news.

Fraud 142

Fraud Cleveland Indiana Community 142

Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank. In 2019, it expanded by buying its fourth branch from a competitor.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

MARCH 2, 2018

An internal auditor at a Mumbai branch of Punjab National Bank is accused of conspiring with other officials to defraud the lender of $2 billion, reported Reuters. India law enforcement has contended the two have colluded with officials from the lender to secure land between 2011 and 2017.

Fraud 108

Fraud National Security System 108

PYMNTS

MAY 9, 2017

Mobile payments using biometrics to authenticate the user is forecasted to reach close to $2 billion in 2017, up from $600 million last year, according to new data from Juniper Research. What’s more, 90 percent said they think they would use biometrics for online payments in the future because they see it as a more secure method.

Mobile 137

Mobile Payments New York City Samsung 137

PYMNTS

SEPTEMBER 7, 2020

The Australian Services and Investments Commission (ASIC) has banned John Louis Anthony Bigatton, who was the Australian national representative for crypto platform BitConnect, from engaging in financial services for the next seven years after he was found to be engaging in deceptive practices, a report from Financial Standard finds.

Bitcoin 132

Bitcoin Fraud Payments cryptocurrency 132

PYMNTS

SEPTEMBER 17, 2020

The site reported that 1,932 BTMs were in the world in December 2017, while there were 4,009 by the close of 2018. Countries with the most sizable count of BTMs are developed nations like Britain, Canada and the United States. But they have grown in popularity in markets that are not stable.

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Bitcoin ATM Security cryptocurrency 178

PYMNTS

MARCH 23, 2017

But what happens when the prime mover behind the theft is an actual nation? Acting not against individuals, but another nation? The landscape is dynamic and demands, among other measures, a cybersecurity defense force, the Admiral told IP 2017 attendees. and beyond.

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National New York System Operations 103

PYMNTS

JUNE 4, 2018

Following a series of sophisticated cyberattacks, such as WannaCry and NotPetya , AIG received a surge of cyber claims in 2017: The insurer saw as many claims notifications as the previous four years combined, RT reported. researcher hadn’t quickly found and activated the kill switch.”. After a week, files were locked for good.

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Data National Bitcoin System 109

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 percent increase in identity fraud victims since 2011, when 11.6 FBI Sees Wire Fraud Via Email Grow In 2016. million in the U.S.

Fraud 128

Fraud ATM Google Study 128

PYMNTS

NOVEMBER 7, 2016

Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security. “The Secure Payments Task Force is particularly interested in understanding any barriers that may exist to implementing the planned solutions.”

Security 193

Security Payments Survey Innovation 193

PYMNTS

JANUARY 31, 2019

NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

Fraud 182

Fraud Payments Compliance Regulation 182

PYMNTS

JANUARY 13, 2020

in the early 2000s had much of the hoped-for effect: By 2017, both Mastercard and Visa had reported that counterfeit fraud was more than halved. The PYMNTS January 2020 Digital Identity Tracker examines the issues, as well as advances in mobile biometric security, “deepfake” detection and more. It’s not all good news.

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Trends Fraud Cards National 136

PYMNTS

JANUARY 9, 2020

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. percent of card-present transactions within the nation were conducted via EMV card between July 2018 and June 2019.

Fraud 131

Fraud Cards Retail Security 131

PYMNTS

JUNE 29, 2020

Using the slogan, “In Fraud We Trust,” the group directed traffic and potential purchasers to sites of its members, which served as online conduits to traffic in stolen identification, financial and banking information, malware and other illicit goods, according to the complaint. In April, a joint study by the U.S. and the United Kingdom.

Nevada 201

Nevada Cyber Security Study Security 201

PYMNTS

NOVEMBER 18, 2020

18), the first time the cryptocurrency has climbed above $18,000 since December 2017, CNBC reported. The company confirmed in the post that while its customer’s assets are secure, personal contact information and encrypted passwords might have been compromised in the attack. “We It fell slightly, hitting 17,542.52 as of 3:39 p.m.

Bitcoin 151

Bitcoin Report cryptocurrency Security 151

PYMNTS

NOVEMBER 27, 2019

The National Standardization Group for Facial Recognition Technology was launched last week by Hong Kong-based SenseTime and 27 other tech companies. Although facial recognition and biometrics offer security authentication and transaction speed, the measure also opens the door to data theft as cybercriminals seek ways to beat the system.

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Regulation National Security Technology 130

PYMNTS

FEBRUARY 20, 2017

But if technology can pave the way to a smoother process, so, too, can it facilitate fraud, in the wrong hands. Join us, along with innovator John Dancu, CEO of IDology, as we delve into the brave newish word of (ever more) secure transactions across the web. Check out Innovation Project 2017.

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Fraud Innovation US National 102

PYMNTS

AUGUST 29, 2019

Digital fraud continues to be one of the most pressing issues that marketplaces face today. Experts estimate that total fraud losses in 2018 totaled $3.9 Developments Around The Digital Fraud World. Businesses are turning to a variety of solutions to fight fraud, including leveraging blockchain technology.

Fraud 158

Fraud blockchain System Cards 158

PYMNTS

JANUARY 10, 2019

The auditors found that misused EU funds totaled 391 million euros or $451 million in 2017, in line with the past four years, but the EU’s anti-fraud investigative office OLAF was only able to indict EU member states in 45 percent of cases.

Fraud 141

Fraud National Regulation Report 141

NCR

JULY 28, 2017

This convenience offers many advantages to the consumer, but financial institutions and consumers need to recognize one of the biggest disadvantages of this technological expansion: the increased risk of digital banking fraud. million instances of fraud and two million computer misuse offenses in England and Wales alone. .

Fraud 74

Fraud Digital Banking Survey Security 74

PYMNTS

SEPTEMBER 21, 2020

Between 1999 and 2017, FinCEN flagged more than $2 trillion in suspicious transactions. Among the scams highlighted include HSBC in Hong Kong, which allowed a $15 million Ponzi scheme to move its money even after the business was being barred from operating in three states.

Report 279

Report North Carolina United States New York 279

PYMNTS

MARCH 7, 2019

Data privacy and security is becoming a popular political issue, and the latest proof of that came Thursday (March 7) on Capitol Hill. The hearing took place at a time of increasing scrutiny for online privacy and security. Equifax disclosed the hack in September of 2017. During a hearing for the U.S.

Data 177

Data Security National Online 177

PYMNTS

SEPTEMBER 24, 2020

These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for 66 countries in 2019, reaching as high as 20 percent of GDP in nations like Haiti and Nepal. . Tools that help remittance service providers more efficiently meet their crime-fighting obligations can help keep down both costs and fraud. .

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Compliance Tools Fraud Regulation 223

PYMNTS

MARCH 29, 2019

The scam was first seen in 2017 after fraudsters used Elon Musk, Bill Gates, and Richard Branson to promote their fake campaigns. s national fraud helpline has found that in the 12 months leading up to March 19, investors lost over £15 million ($19 million) to bitcoin scams. In addition, the U.K.’s

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Bitcoin blockchain Fraud cryptocurrency 116

PYMNTS

OCTOBER 26, 2016

It’s been a busy 12 months since the last Money20/20, as new technologies and threats have disrupted the security space time and time again. Similarly, the continued steady global increase in the use of mobile devices helped fuel the development and release of new tools to security companies, as well as access to richer, deeper user data.

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Security Mobile Las Vegas User Experience 100

PYMNTS

NOVEMBER 10, 2019

Ukraine is coming to terms with international lenders to settle an aid agreement concerning the nationalization of Privatbank, the country’s largest lender, Bloomberg reported on Saturday (Nov. The relief solution comes as Ukraine promises to recover losses associated with the Privatbank’s nationalization. In other Ukraine news , U.S.

New Jersey 101

New Jersey Fraud National Groups 101

PYMNTS

MARCH 13, 2019

A new report by the United Nations has revealed that global banks are being used to enable payments in illegal deals by North Korea. million worth of tokens in 2017. They are facilitating the transfer of funds for prohibited ship-to-ship transfers of petroleum products. In addition, the U.S.

New York 116

New York Bitcoin Maine Fraud 116

PYMNTS

SEPTEMBER 17, 2018

Mobile means one can do just about anything by using their device: order food, bank online, read the news … even commit payments fraud, sometimes from the unlikeliest of places. In Australia, news came that police have charged a quartet of alleged fraudsters with running a business email compromise (BEC) scam.

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Idaho Missouri Cyber Security Fraud 153

PYMNTS

DECEMBER 3, 2018

With cyberattacks on the rise, corporate victims find themselves battling it out with cyber insurance companies over protection from the damage done by security breaches. For example, the National Bank of Blacksburg in Virginia sued Everest National Insurance Company earlier this year after the bank was hit by cyberattacks in 2016 and 2017.

Virginia 184

Virginia Policies Security National 184

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). Gift cards also recently made news as a possible proponent of the nation’s drug problem and opioid crisis.

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Cards Fraud Retail National 129

PYMNTS

MAY 20, 2020

TIPS is a real-time payments network that the ECB created to build a more streamlined, interoperable Pan-European instant payments rail — one that allows for funds to be transferred quickly and seamlessly among all EU nations on a 24/7 year-round basis. The ECB sees TIPS as more than just another real-time payments solution, however.

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Payments Guidelines Regional Strategy 210

PYMNTS

OCTOBER 18, 2019

Pay by Bank app offers a best-in-class digital payment solution that optimizes user experience while making transactions more secure and reducing fraud,” said Suren Nawalkar, senior vice president of consumer applications at Mastercard. PbBa is designed to work with the security of a consumer’s own bank.

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Retail User Experience ATM Security 116

PYMNTS

FEBRUARY 10, 2020

10) with the 2017 cyberattack on credit reporting giant Equifax, which was one of the largest data breaches in history, according to The Wall Street Journal. The Equifax cyberattack exposed the financial data of almost 150 million Americans and British and Canadian nationals. “There are exceptions, though.”

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Atlanta National Conference Security 134

PYMNTS

FEBRUARY 28, 2019

They must also excel at securely handling payments and personal data, while recommending services at the right moment to enhance transactions along the way. Platforms need to pay careful attention to fraud across dozens of markets, meaning the ability to detect and manage fraud will only become more crucial as the sharing economy grows.

Payments 183

Payments User Experience Training Case Study 183

PYMNTS

JUNE 16, 2019

Postal Service, the Social Security Administration, Veterans Affairs, and the Centers for Medicare and Medicaid Services, for example, ask questions of a new user and match their answers to information held in an individual’s credit file. Agencies like the U.S.

Knowledge Base 108

Knowledge Base Online United States Fraud 108

PYMNTS

SEPTEMBER 11, 2019

Fraud Trends. As PYMNTS covered earlier this year, losses from such schemes nearly doubled from $675 million in 2017 to as much as $1.2 Fraud Crackdown. The criminals behind business email compromise also engage in a wide variety of fraud, the DOJ said. As reported, many of those indicted are Nigerian nationals.

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Fraud social media Cards Bitcoin 163