Bank Innovation

JULY 25, 2017

Customer fears about card security and fraud is increasing, but as it turns out, fewer consumers are actually experiencing that fraud. This is according to the Consumer Payment Card Data Security Perceptions survey by data solutions provider Transaction Network Services, released today.

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Fraud Cards Survey Security 230

PYMNTS

FEBRUARY 14, 2020

An online scam targeted $4 million in retirement funds from at least four Puerto Rico agencies, according to reports on Thursday (Feb. This incident comes as the island is still recovering — and facing financial scrutiny — from 2017’s Hurricane Maria and a series of earthquakes. Authorities have frozen at least $2.9

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Puerto Rico Online Fraud Policies 169

PYMNTS

NOVEMBER 28, 2018

Google, the FBI and White Ops, along with a handful of cybersecurity companies, recently collaborated to shut down a digital ad fraud scam that used 1.7 According to a report in The Hacker News , the fake clicks were used to trick online advertisers for years and make tens of millions of dollars as a result.

Google 128

Google Fraud Online Operations 128

Abrigo

JUNE 13, 2022

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. . Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. .

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Fraud Training United States Survey 195

Bank Innovation

SEPTEMBER 11, 2017

Fraud remains a significant problem for financial services to solve, especially as digital and online banking becomes more prevalent in the industry. For the average FI and online lender, approximately one-third of all monthly transactions will be fraudulent.

Online 199

Online Fraud Survey Industry 199

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

JANUARY 10, 2017

It’s early in 2017, but fraud looms like Nosferatu chancing upon the sleeping maiden. As an analogy, he said, think of an airport security setup, where the clear majority of users are not terrorists, yet the current system demands an unpleasant and inefficient process. We must prepare for that inevitability.

Fraud 100

Fraud US Data System 100

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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Fraud Management Risk Management Company 274

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,

Security 192

Security System Fraud Tools 192

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

JANUARY 31, 2020

Another 2018 survey found that consumers of all ages showed growing interest for such cards, as customers’ preference for the payment method saw a 10 percent increase over 2017. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods. Holistic Security.

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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. Mobile order-ahead fraud is so widespread and difficult to stop because it is conducted remotely. Chipotle denied any breach of its databases or systems.

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Fraud Mobile Cards social media 167

PYMNTS

SEPTEMBER 21, 2018

They are buying fraud tutorials and data from other criminals online. The 2018 holiday shopping season has already started for people and organizations bent on fraud. In a new PYMNTS interview, Tricia Phillips, SVP of product at Kount , discussed the fraud trends for the upcoming fourth quarter. Fraud Headstart.

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Fraud Retail Online Course 145

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.

Fraud 126

Fraud Data System Security 126

PYMNTS

SEPTEMBER 8, 2019

The server held the resumes of job applicants spanning 2014 and 2017, and included private information such as phone numbers, home addresses, email addresses and prior work experience. While there’s no set number on how many users were affected, one folder from May 2017 contained thousands of resumes.

Online 184

Online United States Security Data 184

PYMNTS

DECEMBER 12, 2019

The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. 11), as reported by Coindesk. It would then use the information to recommend products.

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Bitcoin Fraud Regulation social media 131

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.

Security 131

Security Fraud Analytics Tools 131

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 19, 2019

Illicit and counterfeit goods make up a multibillion dollar fraudulent industry, with merchants suffering $323 billion in total losses from counterfeit products in 2017. Online sales of such products are projected to reach $1.8 Fast Speeds, Smaller Packages and Online Counterfeiting.

Online 133

Online Fraud Report Payments 133

PYMNTS

MARCH 1, 2019

If preventative measures aren’t taken, however, faster payments could open the door to more fraud and cyberattacks. According to a 2017 YouGov survey, 65 percent of SMBs in the U.S. Fraud opportunities. Once payments started moving in seconds, however, fraud instances quickly shot up. Security strategies.

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Security Payments Fraud Cards 134

PYMNTS

OCTOBER 24, 2018

When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. It turns out that, for online retail last year, the “fraudliest day” was Dec. Thumbs Down On Rules Of Thumb?

Fraud 159

Fraud Risk Management Customer Experience Trends 159

PYMNTS

FEBRUARY 21, 2020

Vendors looking to appeal to these corporate buyers’ shopping preferences and expectations must therefore ready online sales channels like merchant websites and B2B marketplaces. trillion by 2020, but new sales channels also invite emerging fraud forms. The Sizable Online Fraud Threat. False Positives and Data Security.

Customer Experience 152

Customer Experience Fraud Millennials Online 152

PYMNTS

AUGUST 13, 2020

By comparison, the first 3-D Secure (3DS) technology provides consumers with a user experience marked by lengthy times for processing and verification. The company reports that retailers selling through eCommerce are experiencing record sales numbers, but fraud rates are also on the uptick. Merchants pay $3.13

Technology 248

Technology User Experience Fraud Comparison 248

PYMNTS

JUNE 16, 2019

A report from the Government Accountability Office ( GAO ) said several government departments still rely on the three major credit agencies — Equifax, Experian and TransUnion — to verify a person’s identity before they can access their services online. Agencies like the U.S.

Knowledge Base 108

Knowledge Base Online United States Fraud 108

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.”.

Fraud 100

Fraud Strategy Cards Security 100

PYMNTS

DECEMBER 8, 2020

That’s more than double the rate from a year ago, and marks a nearly fivefold increase in this type of fraud since 2017. People currently shopping for pets online are prime targets for fraudsters trolling the internet looking for want-to-be pet owners. Corey, BBB St. Louis president and CEO. Paying For Pups.

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St. Louis Fraud social media Video 275

PYMNTS

OCTOBER 30, 2017

What’s more, the report quoted Ji as saying that China is aiming to enhance its regulations for all online financing businesses, and that all of the financing activity should at the very least be subjected to a basic amount of oversight. China isn’t the only government to start regulating bitcoin. Many countries – including the U.S.,

Online 100

Online Bitcoin Regulation cryptocurrency 100

PYMNTS

APRIL 12, 2017

Identity company MorphoTrust USA looks to put a dent in tax fraud and theft by adding an additional layer of authentication security into the mix. If it’s a match, the user obtains the credential and is able to prove their identity online. “By

Alabama 101

Alabama Taxes Fraud Florida 101

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.

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Fraud ATM Google Study 128

PYMNTS

JULY 17, 2017

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I percent in Q1 2017. Classic fraud deflection is rules-based. Fraud is dynamic. It’s a business.

Fraud 109

Fraud Data Delaware New York City 109

PYMNTS

SEPTEMBER 13, 2018

Doppelgängers are real — but they’re not phantom twins in pre-modern German fairy tales: they are online, and they can be used to steal digital identities. Since the 2017 Equifax scandal, consumers know all too well that their data is up for grabs somewhere on the dark web. The reason? The technology is there.

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Fraud Security Data Meeting 131

PYMNTS

APRIL 3, 2018

According to KrebsOnSecurity, the data, which includes names, email and physical addresses, birthdays, loyalty card numbers and the last four digits of credit card numbers, was visible in plain text on the Panerabread.com website for anyone that was signing up to place online food orders from the website for pickup or delivery.

Data 127

Data Online Security Cards 127

PYMNTS

JUNE 29, 2020

Infraud was created in 2010 by Svyatoslav Bondarenko, 34, of Ukraine, to promote and grow interest in the Infraud Organization as the premier destination for purchasing retail items with counterfeit or stolen credit card information online, the Justice Department alleged in the indictment. In April, a joint study by the U.S.

Nevada 201

Nevada Cyber Security Study Security 201

PYMNTS

JULY 9, 2018

However, Macy’s said the accounts don’t include Social Security numbers or CVV numbers. The news comes a few months after Orbitz , a subsidiary of online travel agency Expedia, had announced that it was hit with a data breach in 2016. The company also revealed that the Social Security numbers of U.S.

Online 134

Online Data Detroit Retail 134

PYMNTS

JUNE 14, 2019

The good news in the world of fighting fraud and cybercrime is that, by the numbers, the battle against the thieves has shown to be tipping toward the white hats. As GIACT EVP David Barnhardt noted in a recent conversation with Karen Webster, overall fraud dropped 15 percent between 2017 and 2018.

Fraud 100

Fraud Industry System Lending 100

PYMNTS

JUNE 7, 2019

Allied Wallet , an online payment provider and a client of Wirecard, settled with the Federal Trade Commission (FTC) last month over charges that it helped facilitate fraud and launder money, according to a report by the Financial Times. Banc de Binary, which was closed in 2017 by U.S.

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Fraud Regulation Report Company 108

PYMNTS

JUNE 10, 2020

This has increased the need for FIs to develop convenient mobile onboarding experiences, but those that lack confidence in their ability to secure such channels appear to be reluctant to offer them. They need to thoroughly vet new customers and comply with security obligations to prevent crime from proliferating. Tapping Mobile KYC .

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Mobile Security Examples Study 130